Companies /Real Estate

Getty Realty Corp

NYSE: GTY Reit - Retail
$32.87
▼ $0.08 (−0.24%) today
Markets closed · 8:31pm ET

Q1 2025 Earnings

Reported Apr 23, 2025, 4:45pm ET · SEC source
$0.25
Miss −19.48%
EPS · est. $0.31
$52.3M
Miss −0.17%
Revenue · est. $52.4M
−2.4%
Trailing market
GTY vs S&P since report
3 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%−2%0+2%Apr 23Apr 24report 4:45pm ETearnings+2.1%−3.4%
−4%−2%0+2%Apr 23Apr 24earnings+2.1%−3.4%
GTY −3.4%S&P 500 +2.1%
−3%0+3%Apr 23Apr 24report 4:45pm ETearnings+2.8%−3.4%
−3%0+3%Apr 23Apr 24earnings+2.8%−3.4%
GTY −3.4%NASDAQ +2.8%
−3%0+3%+6%Apr 22May 1report 4:45pm ETearnings+4.3%−1.3%
−3%0+3%+6%Apr 22May 1earnings+4.3%−1.3%
GTY −1.3%S&P 500 +4.3%
−4%0+4%Apr 22May 1report 4:45pm ETearnings+5.9%−1.3%
−4%0+4%Apr 22May 1earnings+5.9%−1.3%
GTY −1.3%NASDAQ +5.9%
−3.30%
Day of report
−0.69%
Next session
+2.10%
One week
+5.69%
30 days

S&P 500 over the same 30 days: +8.13%.

Did GTY Beat Earnings? Q1 2025 Results

Getty Realty delivered a mixed first quarter for 2025, missing Wall Street expectations on both the top and bottom lines as rising debt costs weighed on reported earnings. The convenience and automotive retail REIT posted GAAP diluted EPS of $0.25, falling short of the $0.31 consensus estimate by 19.48%, while revenue of $52.33 million came in just 0.17% below forecasts despite growing 6.9% year over year. The primary culprit behind the earnings shortfall was a sharp increase in interest expense, which climbed to $11.73 million from $9.13 million a year ago, alongside higher depreciation tied to an expanding asset base. On an operational basis, however, the story was more encouraging: AFFO per diluted share rose 3.5% to $0.59, supported by base rental income growth of 13.0% to $49.60 million. Looking ahead, management reaffirmed full-year 2025 AFFO guidance of $2.38 to $2.41 per diluted share, pointing to a committed investment pipeline exceeding $110 million and no debt maturities until June 2028 as pillars of near-term stability.

Key Takeaways
  • Base rental income grew 13.0% year-over-year to $49.6 million driven by incremental revenue from recently acquired properties and contractual rent increases
  • 3.5% AFFO per share growth year-over-year
  • Property operating expenses declined due to reductions in reimbursable real estate taxes and rent expense
  • Strong occupancy, rent collections, and tenant rent coverage

“We started the year with another quarter of steady performance as we delivered 3.5% AFFO per share growth, maintained strong portfolio metrics, and demonstrated effective balance sheet management.”

Getty Realty CEO, on the earnings call

Forward Guidance & Outlook

Getty Realty reaffirmed its full-year 2025 AFFO guidance of $2.38 to $2.41 per diluted share. The guidance includes completed transaction activity as of the release date but does not include assumptions for prospective acquisitions, dispositions, or capital markets activities including settlement of outstanding forward sale agreements. The company has a committed investment pipeline exceeding $110 million for 29 properties expected to be funded over the next 9-12 months. The company also noted it has no debt maturities until June 2028 and has ample liquidity including more than $150 million of unsettled forward equity and significant revolving credit facility capacity.

GTY YoY Financials

Q1 2025 vs Q1 2024 · SEC filings Q1 2024 Q1 2025
$0$20.0M$40.0M$49.0M$52.3MRevenue$25.7M$26.4MOperating Income$16.7M$14.8MNet Income
$0$20.0M$40.0MRevenueOperating IncomeNet Income

GTY Revenue by Segment

Revenues from Rental Properties
Interest on Notes and Mortgages Receivable

Figures from SEC filings and company reports. Not investment advice.