Getty Realty Q2 rental income rises on rental hikes, lifts 2026 AFFO outlook

Getty Realty

22/07/2026 21:17

    

    Overview
  
U.S. net lease REIT's Q2 rental income rose 11% yr/yr, driven by acquisitions and rent hikes
Adjusted FFO per share grew 5% yr/yr to $0.62 in Q2
Company raised 2026 AFFO guidance following $172 mln in year-to-date investments

    

    Outlook
  
Getty Realty raises 2026 AFFO guidance to $2.52-$2.54 per diluted share
Company expects investment pipeline and capital position to support 2nd half 2026 performance
Getty Realty maintains committed investment pipeline of over $95 mln for 30 properties

    

    Result Drivers
  
PROPERTY ACQUISITIONS - Growth in base rental income was driven by revenue from recently acquired properties and contractual rent increases, partially offset by property dispositions
LOWER PROPERTY COSTS - Property operating expenses fell due to reduced rent expense and lower reimbursable and non-reimbursable costs
DECLINE IN ENVIRONMENTAL EXPENSES - Environmental expenses decreased, mainly due to lower litigation accruals and removal of certain reserve liabilities

    
Company press release: ID:nGNX5Pbg0t

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
Q2 Rental Income
 
$58.55 mln
 
Q2 EPS
 
$0.36
 
Q2 Net Earnings
 
$22.59 mln
 
Q2 Adjusted FFO Per Share
 
$0.62
 
Q2 FFO Per Share
 
$0.59
 

    

    Analyst Coverage
  
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy"
Wall Street's median 12-month price target for Getty Realty Corp is $35.00, about 4.4% below its July 21 closing price of $36.61
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 22 three months ago

    

    Reuters Recommended Reads
  
July 20 - France's Argan H1 rental income rises 4%, raises 2026 target
July 21 - Netherlands' Wereldhave H1 gross rental income up 5.6% on strong leasing activity
July 21 - Sweden's Stendörren Q2 rental income rises 19%

    
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)