NYSE: GTY
GETTY REALTY CORP /MD/CIK 0001052752 · Real Estate · SIC 6500 · Real Estate
Getty Realty Corp. (“Getty Realty,” “we,” “us,” “our” and the “Company”) (NYSE: GTY), a Maryland corporation, is a publicly traded, net lease real estate investment trust (“REIT”) specializing in the acquisition, financing and development of convenience, automotive and other single tenant retail… About this business →
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Latest financial statements
From 10-Q filed Jul 23, 2026 (period ending Jun 30, 2026). SEC XBRL (companyfacts) — not generated by the model.
Consolidated Statements of Operations (Unaudited)
| Description | Q2 ended Jun 30, 2026 | Q1 ended Mar 31, 2026 |
|---|---|---|
| Revenue: | ||
| Total revenue / net sales | 59.1 | 57.8 |
| Operating expenses: | ||
| General and administrative | 7.3 | 9.1 |
| Other operating expenses, net | 16.9 | 10.5 |
| Operating income | 34.9 | 38.3 |
| Interest expense | 12.3 | 12.0 |
| Other income/(expense), net | (0.04) | 0.4 |
| Net income | 22.6 | 26.6 |
| Basic earnings per share | 0.36 | 0.43 |
| Diluted earnings per share | 0.36 | 0.43 |
Consolidated Balance Sheets (Unaudited)
| Description | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| Current assets: | ||
| Cash and equivalents | 4.8 | 3.7 |
| Accounts receivable, net | 3.1 | 2.2 |
| Operating lease right-of-use assets, net | 8.8 | 9.3 |
| TOTAL ASSETS | 2,291 | 2,180 |
| Current liabilities: | ||
| Long-term debt | 1,067 | 993.7 |
| Total liabilities | 1,169 | 1,090 |
| Shareholders' equity: | ||
| Common stock | 0.6 | 0.6 |
| Capital in excess of stated value | 1,292 | 1,250 |
| Accumulated other comprehensive income (loss) | — | — |
| Total shareholders' equity | 1,123 | 1,089 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 2,291 | 2,180 |
Consolidated Statements of Cash Flows (Unaudited)
| Description | Six months ended Jun 30, 2026 | Q1 ended Mar 31, 2026 |
|---|---|---|
| Operating Activities: | ||
| Net cash from operating activities | 74.8 | 33.1 |
| Investing Activities: | ||
| Net cash from investing activities | (149.2) | (26.4) |
| Financing Activities: | ||
| Net cash from financing activities | 70.9 | (11.4) |
| Net increase/(decrease) in cash | (3.5) | (4.6) |
Amounts in millions USD; EPS as reported. Line labels are presentation-friendly mappings of filer XBRL tags — not a re-audit of the full statements. Use EDGAR for interactive notes and detail. Interactive statements & notes on EDGAR ↗
About GETTY REALTY CORP /MD/
Source: Item 1 (Business) from the 10-K filed February 12, 2026. Description as filed by the company with the SEC.
Item 1. Business
Company Profile
Getty Realty Corp. (“Getty Realty,” “we,” “us,” “our” and the “Company”) (NYSE: GTY), a Maryland corporation, is a publicly traded, net lease real estate investment trust (“REIT”) specializing in the acquisition, financing and development of convenience, automotive and other single tenant retail real estate. Our predecessor was founded in 1955 and our common stock was listed on the New York Stock Exchange (“NYSE”) in 1997. Unless otherwise expressly stated or the context otherwise requires, the “Company,” “we,” “us,” and “our” as used herein refer to Getty Realty and its owned and controlled subsidiaries.
Our portfolio includes convenience stores, express tunnel car washes, automotive service centers (gasoline and repair, oil and maintenance, tire and battery, and collision), drive-thru quick service restaurants, and certain other freestanding retail properties. Our 1,174 properties as of December 31, 2025 are located in 44 states and Washington, D.C., and our tenants operate under a variety of national and regional retail brands. We are internally managed by our management team, which has extensive experience acquiring, financing, developing and managing convenience, automotive and other single tenant retail real estate.
We elected to be treated as a REIT under the federal income tax laws beginning January 1, 2001. The Internal Revenue Code permits a qualifying REIT to deduct dividends paid, thereby effectively eliminating corporate level federal income tax and making the REIT a pass-through vehicle for federal income tax purposes if certain REIT qualifications are met. To meet the applicable requirements of the Internal Revenue Code, a REIT must, among other things, invest substantially all of its assets in interests in real estate (including mortgages and other REITs) or cash and government securities, derive most of its income from rents from real property or interest on loans secured by mortgages on real property, and distribute to stockholders annually a substantial portion of its taxable income. As a REIT, we are required to distribute at least 90% of our taxable income to our stockholders each year and would be subject to corporate level federal income taxes on any taxable income that is not distributed.
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Our Company is headquartered in New York, New York and as of February 12, 2026, we had 31 employees.
Recent Developments
Our investment strategy is predicated on the belief that automobility will remain the dominant form of consumer transportation in the United States and that mobile consumers increasingly prioritize convenience, speed, and service. During the year ended December 31, 2025, we continued to grow and diversify our portfolio of convenience, automotive and other freestanding retail properties through acquisitions of existing properties and development funding advances for the construction of new-to-industry assets. We were able to accretively fund this investment activity through thoughtful capital markets execution that included the strategic deployment of previously raised equity capital subject to forward sales agreements, active use of our ATM Program, and the issuance of new senior unsecured notes.
Portfolio Activities
During the year ended December 31, 2025, we invested approximately $273.0 million in convenience and automotive retail properties, including the acquisition of 28 drive-thru quick service restaurants, 24 convenience stores, 15 automotive service centers, and nine express tunnel car washes. As a result of this investment activity, we added 13 new tenants to our portfolio, expanded our relationships with several existing tenants, and added or increased exposure to a number of attractive metropolitan areas, including Houston (TX), Memphis (TN), Dallas (TX), San Antonio (TX), Las Vegas (NV), and Atlanta (GA).
During the year ended December 31, 2025, we sold 13 properties that generated gross proceeds of $18.3 million and reduced our exposure to certain properties, tenants, and/or geographies that no longer met our long-term investment criteria. We also completed two redevelopment and revenue-enhancing capex projects, including a new-to-industry quick service oil change center.
For additional information regarding our property acquisitions and dispositions, see Note 12 and Note 13 in “Item 8. Financial Statements and Supplementary Data” in this Annual Report on Form 10-K.
Capital Markets Activities
During the year ended December 31, 2025, we settled approximately 4.7 million shares of common stock subject to forward sales agreements for net proceeds of approximately $135.3 million, and entered into new forward sales agreements under our ATM Program to sell approximately 1.5 million shares of common stock for anticipated gross proceeds of approximately $41.6 million.
As of December 31, 2025, we had a total of approximately 2.1 million shares of common stock subject to outstanding forward sales agreements, which upon settlement are anticipated to raise gross proceeds of approximately $62.6 million.
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We also closed the private placement of $250.0 million of new senior unsecured notes priced at a fixed rate of 5.76% due January 22, 2036. The new senior unsecured notes were issued on January 22, 2026 and proceeds were used to repay amounts outstanding under our Credit Facility.
For additional information regarding our equity issuance and notes private placement, see “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources” and Note 8 and Note 9 in “Item 8. Financial Statements and Supplementary Data” in this Annual Report on Form 10-K.
Our Properties
As of December 31, 2025, our portfolio included 1,174 properties, of which we owned 1,145 properties and leased 29 properties from third-party landlords. Our properties are located in 44 states and Washington D.C., and our typical property is located in a larger metropolitan area and is used as a convenience store, express tunnel car wash, automotive service center, drive thru quick service restaurant, or certain other freestanding retail uses. Many of our properties are located at highly trafficked urban intersections or conveniently close to highway entrances or exit ramps.
As of December 31, 2025, we leased 1,169 of our properties to tenants under triple-net leases, including 962 properties leased under 62 separate unitary or master triple-net leases, and 207 properties leased under single unit triple-net leases. These leases generally provide for an initial term of 15 or 20 years, with options for successive renewal terms of up to 20 years, and periodic rent escalations. As of December 31, 2025, our weighted average remaining lease term, excluding renewal options, was 9.9 years.
Substantially all of our properties are leased on a triple-net basis to convenience store operators, petroleum distributors, express tunnel car wash operators, and other automotive-related and retail tenants. Our tenants either operate their business at our properties directly or, in the case of certain convenience stores and gasoline and repair stations, sublet our properties and supply fuel to third parties that operate the business. For additional information regarding risks related to our tenants’ dependence on the performance of these industries, see “