Getty Realty reports Q4 AFFO 57c, consensus 57c

Reports Q4 revenue $47.64M, consensus $47.19M. “We are extremely proud of our financial results in 2023, which saw us grow base rental income by nearly 10% and AFFO per share by more than 5%, reflecting strong execution of our growth strategy,” stated Christopher Constant, Getty’s president and CEO. “We more than doubled our prior years’ investment activity by deploying $326 million of capital, while enhancing our convenience and automotive retail portfolio and maintaining our disciplined underwriting standards. Notably, we accomplished this during a challenging market environment while also sourcing nearly $300 million of new equity and debt capital that allowed us to accretively fund these investments.”