Getty Realty raises 2026 AFFO outlook

Getty Realty

22/04/2026 21:20

Overview

U.S. net lease REIT's Q1 base rental income rose 12.5% yr/yr, driven by acquisitions and rent hikes

Adjusted FFO per share for Q1 rose to $0.63 from $0.59 last year

Company raised 2026 AFFO guidance and expanded investment pipeline to over $125 mln

Outlook

Getty Realty raises 2026 AFFO guidance to $2.50-$2.52 per diluted share

Company expects to fund over $125 mln in committed investments over next 3-12 months

Result Drivers

ACQUISITIONS AND RENT INCREASES - Co said growth in base rental income was driven by revenue from recently acquired properties and contractual rent increases, partially offset by property dispositions

LEASE EXTENSIONS - Lease extensions reduced near-term lease expiration risk and increased portfolio weighted average lease term, per co

ENVIRONMENTAL EXPENSES - Environmental expenses improved due to removal of unknown reserve liabilities previously accrued for certain properties

Company press release: ID:nGNX2hc2wg

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Rental Income
$56.29 mln
Q1 EPS
$0.43
Q1 Net Earnings
$26.63 mln
Q1 Adjusted FFO
$38.98 mln
Q1 FFO
$42.69 mln
Q1 Adjusted FFO Per Share
$0.63
Q1 FFO Per Share
$0.69


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "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 $33.00, about 3.1% below its April 21 closing price of $34.04

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 19 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)