Getty Realty (GTY) Misses Q2 EPS by 1c

Getty Realty (NYSE: GTY) reported Q2 EPS of $0.28, $0.01 worse than the analyst estimate of $0.29.

• Funds From Operations (“FFO”) of $0.49 per share
• Adjusted Funds From Operations (“AFFO”) of $0.49 per share
• Invested an aggregate of $44.1 million across 53 properties

“Our second quarter performance reflects the strength of our in-place portfolio, as well as the compelling growth opportunity in the convenience and automotive retail sectors,” stated Christopher J. Constant, Getty’s President & Chief Executive Officer. “During the quarter, we invested in 46 oil change centers, three car washes and four convenience stores, as well as a tire service center which closed subsequent to quarter end, bringing our year-to-date investment activity to $79 million. The net results of this recent activity include an 11% increase in AFFO per share for the second quarter, and an increase in our 2021 annual AFFO per share guidance. With an improving cost of capital, a strong track record of investing in freestanding properties offering essential goods and services, and attractive tailwinds in the convenience and broader automotive industries, we are confident in our platform’s ability to deliver continued growth.”

For earnings history and earnings-related data on Getty Realty (GTY) click here.

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