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Getty Realty
(NYSE:GTY)
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Rating:71Outperform
Price Target:
$38.00
▲(9.20% Upside)
Action:Reiterated
Date:07/25/26
The score is driven primarily by a strong, upbeat earnings update (raised AFFO guidance, high occupancy/lease duration, solid liquidity) and supportive technical trend. Offsetting factors are the recent cash-flow deterioration (negative TTM free cash flow) and meaningful leverage, while valuation is helped by the high dividend yield but tempered by a mid-range P/E.
Positive Factors
High occupancy & long lease terms
Very high occupancy and long weighted lease durations create durable, predictable rental cash flows with low near-term rollover risk. This structural lease profile supports steady revenue, enables contractual escalators to compound income, and reduces vacancy-driven volatility over the medium term.
Negative Factors
Leverage near upper end of target
Leverage close to the top of management’s target reduces balance-sheet flexibility and increases sensitivity to adverse rate or asset-value moves. If acquisition pace continues or borrowing costs rise, the company may face higher financing costs or limited capacity to opportunistically buy assets without issuing equity or selling assets.
Read all positive and negative factors
Positive Factors
Negative Factors
High occupancy & long lease terms
Very high occupancy and long weighted lease durations create durable, predictable rental cash flows with low near-term rollover risk. This structural lease profile supports steady revenue, enables contractual escalators to compound income, and reduces vacancy-driven volatility over the medium term.
Read all positive factors
Getty Realty (GTY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.11B
Dividend Yield5.64%
Average Volume (3M)547.93K
Price to Earnings (P/E)20.4
Beta (1Y)0.11
Revenue Growth9.28%
EPS Growth41.75%
CountryUS
Employees31
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)1.67
Shares Outstanding61,932,697
10 Day Avg. Volume546,949
30 Day Avg. Volume547,930
Financial Highlights & Ratios
PEG Ratio2.84
Price to Book (P/B)1.44
Price to Sales (P/S)6.95
P/FCF Ratio12.14
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$37.00Price Target Upside6.32% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)1.59
Revenue Forecast (FY)$237.11M
Getty Realty Business Overview & Revenue Model
Company Description
Getty Realty Corp. stands as a premier publicly traded real estate investment trust (REIT) in the United States, with its core business centered on the acquisition, rental, and funding of properties housing convenience stores and gas stations. By ...
How the Company Makes Money
GTY primarily makes money by collecting contractual rent from tenants under long-term, single-tenant net lease arrangements. Under net leases, tenants are generally responsible for most property-level operating expenses (such as real estate taxes,...
Getty Realty Earnings Call Summary
Earnings Call Date:Jul 22, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Positive
The call emphasized multiple operational and financial strengths: high occupancy and long lease terms, durable tenant cash flows (including improved fuel margins), active and accretive investment activity at mid-to-high 7% initial yields, improved AFFO with guidance raised, strong liquidity and controlled G&A. Weaknesses mentioned were limited and largely idiosyncratic — a modest increase in early-stage ramping car-wash coverage issues, leverage near the upper end of targets, and the potential impact of higher market interest rates on future financing costs. Overall, positive execution and balance sheet positioning outweigh the contained risks.Positive Updates
Strong AFFO Growth and Raised Guidance
AFFO per share was $0.62 in Q2 2026 and $1.25 for 1H 2026, representing growth of 5.1% and 5.0% year-over-year, respectively. Full-year 2026 AFFO per share guidance was increased to $2.52–$2.54 from $2.50–$2.52.
Negative Updates
Increase in Sub-1x Rent Coverage Bucket
The percentage of leases with sub-1x trailing rent coverage rose by 70 basis points quarter-over-quarter. Management attributes this to a portfolio of ramping, new-to-industry car washes that are earlier in their operating history and ramping more slowly than some prior cohorts.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong AFFO Growth and Raised Guidance
AFFO per share was $0.62 in Q2 2026 and $1.25 for 1H 2026, representing growth of 5.1% and 5.0% year-over-year, respectively. Full-year 2026 AFFO per share guidance was increased to $2.52–$2.54 from $2.50–$2.52.
Read all positive updates
Company Guidance
Getty raised full‑year 2026 AFFO per share guidance to $2.52–$2.54 (from $2.50–$2.52), its second upgrade this year; the guidance is based on the in‑place portfolio run‑rate (excludes prospective investments) and reflects expected expense and credit‑loss variability (company modeling uses a 25 bps credit‑loss assumption). Management expects full‑year G&A growth of <2% and a G&A ratio (ex‑stock comp and nonrecurring retirement costs) to fall below 9% (Q2 9.3%; H1 9.2%). Key balance‑sheet and liquidity metrics at June 30: net debt/EBITDA 5.3x (4.3x including unsettled forward equity) versus a target leverage of 4.5–5.5x; fixed‑charge coverage 4.0x; total debt ≈$1.1B (including $1.0B senior notes at 4.6% WA interest and 5.5‑year WA maturity); $73M drawn on a $450M revolver; no maturities until June 2028; >$570M total liquidity; 5.8M shares subject to forward sales for ~ $190.5M gross proceeds outstanding (1.5M shares settled for ~$39.8M; new forwards ~1.8M shares for ~$60.6M); and portfolio/investment metrics that support execution include YTD investments of $172.1M at a 7.6% initial cash yield and approximately $95M of investments under contract.Getty Realty Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 233.03M | 221.73M | 203.39M | 185.85M | 165.59M | 155.41M |
| Gross Profit | 48.71M | 89.11M | 188.53M | 162.06M | 144.03M | 133.36M |
| EBITDA | 280.46M | 187.50M | 170.76M | 143.02M | 145.95M | 113.20M |
| Net Income | 99.61M | 79.19M | 71.06M | 60.15M | 90.04M | 62.86M |
Balance Sheet | ||||||
| Total Assets | 2.29B | 2.17B | 1.97B | 1.82B | 1.56B | 1.47B |
| Cash, Cash Equivalents and Short-Term Investments | 4.85M | 12.78M | 9.48M | 3.31M | 8.71M | 24.74M |
| Total Debt | 1.07B | 1.06B | 918.90M | 772.74M | 714.97M | 608.84M |
| Total Liabilities | 1.17B | 1.10B | 1.01B | 866.75M | 802.45M | 721.84M |
| Stockholders Equity | 1.12B | 1.07B | 962.08M | 955.55M | 759.85M | 745.11M |
Cash Flow | ||||||
| Free Cash Flow | -12.22M | 127.02M | 129.63M | 104.99M | 93.09M | 86.55M |
| Operating Cash Flow | 138.82M | 127.45M | 130.50M | 105.30M | 93.09M | 86.82M |
| Investing Cash Flow | -323.12M | -241.89M | -200.47M | -310.70M | -139.06M | -169.73M |
| Financing Cash Flow | 181.98M | 113.61M | 78.30M | 199.44M | 30.76M | 52.32M |
Getty Realty Technical Analysis
Neutral
34.80
Price Trends
33.68
Negative
33.08
Positive
30.65
Positive
Market Momentum
0.09
Positive
40.72
Neutral
14.85
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GTY, the sentiment is Neutral. The current price of 34.8 is below the 20-day moving average (MA) of 34.87, above the 50-day MA of 33.68, and above the 200-day MA of 30.65, indicating a neutral trend. The MACD of 0.09 indicates Positive momentum. The RSI at 40.72 is Neutral, neither overbought nor oversold. The STOCH value of 14.85 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GTY.
Getty Realty Risk Analysis
Getty Realty disclosed 37 risk factors in its most recent earnings report. Getty Realty reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Getty Realty Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $2.81B | 23.06 | 7.39% | 5.58% | 9.65% | 2.28% | |
72 Outperform | $3.52B | 111.14 | 1.50% | 2.19% | 55.34% | 72.13% | |
71 Outperform | $2.11B | 20.44 | 9.27% | 5.53% | 9.28% | 41.75% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $2.19B | 150.32 | 0.96% | 3.92% | 21.86% | ― | |
55 Neutral | $355.59M | 93.47 | 1.86% | 5.71% | 24.02% | ― |
* Real Estate Sector Average
GTY
Getty Realty
33.57
6.89
25.82%
FCPT
Four Corners Property
25.17
1.23
5.15%
PINE
Alpine Income Property Trust Inc
20.04
6.64
49.59%
NTST
NETSTREIT
21.08
3.32
18.67%
CURB
Curbline Properties Corp.
30.05
8.20
37.50%
Getty Realty Corporate Events
Business Operations and StrategyFinancial Disclosures
Getty Realty boosts 2026 AFFO outlook and growth
Positive
Jul 22, 2026
Getty Realty reported strong operating and investment momentum heading into the second half of 2026, highlighting robust portfolio performance and disciplined capital deployment through June 30, 2026. The company extended six unitary leases repres...
Executive/Board ChangesShareholder Meetings
Getty Realty Shareholders Reaffirm Board, Pay and Auditor
Positive
Apr 27, 2026
At its April 21, 2026 annual meeting, Getty Realty stockholders elected six directors, including Christopher J. Constant and Milton Cooper, to serve until the next annual meeting, reaffirming the company’s existing leadership structure. Shar...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.