Getty Realty (GTY) Tops Q2 EPS by 2c

Getty Realty (NYSE: GTY) reported Q2 EPS of $0.33, $0.02 better than the analyst estimate of $0.31. Revenue for the quarter came in at $34.24 million versus the consensus estimate of $32.61 million.

• Net earnings of $0.33 per share
• Funds From Operations (FFO) of $0.43 per share
• Adjusted Funds From Operations (AFFO) of $0.43 per share
• Acquired 32 properties for $55.3 million
• Issued $100.0 million of 10-year senior unsecured notes

Christopher J. Constant, Getty’s President & Chief Executive Officer stated, “During the second quarter we exhibited ongoing progress in each of our strategic priorities. From an operational perspective, our stable triple-net lease portfolio delivered another quarter of increased AFFO per share. In terms of investment activities, we added 32 high-quality properties to our portfolio, which further diversified our portfolio geographically, and had rent commence on two redevelopment projects. Additionally, we further enhanced our balance sheet as we completed a private placement of $100 million of unsecured notes. With a healthy balance sheet and a growing pipeline of acquisition and redevelopment projects, we believe we are well-positioned for continued growth.”

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

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