Getty Realty narrows FY23 AFFO view to $2.23-$2.24, consensus $2.26

Getty said: “As a result of year-to-date investment and capital markets activity, the company is narrowing its 2023 AFFO guidance to a range of $2.23 to $2.24 per diluted share from the prior range of $2.22 to $2.24 per diluted share. The company’s outlook includes completed transaction activity as of the date of this release, but does not include assumptions for prospective acquisitions, dispositions, or capital markets activities, including the settlement of outstanding forward sale agreements. The company’s outlook also assumes approximately $0.3M of total demolition costs for anticipated redevelopment projects with rent commencements anticipated in 2023, 2024 and 2025.”