This REIT will announce its fourth quarter results on February 23. Analysts are forecasting EPS of $0.28 on revenues of $ 39.74 million. The shares have a current annual dividend yield of 5.52%, paid quarterly.
Getty Realty Corp. (GTY)
From IQ Trends
Getty Realty Corp is a publicly traded, net lease REIT specializing in the acquisition, financing and development of convenience, automotive and other single tenant retail real estate. As of September 30, 2021, the Company’s portfolio included 1,021 properties in 36 states across the United States plus Washington, D.C.
Founded in New York City in 1955 through the acquisition of a single gas station, over the next 15 years the Company continued to assemble a portfolio of gas and service stations that became the predecessor entity, Power Test Corporation. Power Test went public in 1971 and grew to become the largest independent gasoline distributor on the East Coast. In 1985, Power Test acquired all of Getty Oil Company’s Northeastern petroleum distribution and marketing assets along with the Getty® name and trademark, and the Company changed its name to Getty Petroleum Corp.
In 1997, the Company executed a spin-off of all the petroleum marketing and distribution assets to a new public company that was taken private in a sale to Lukoil, one of Russia’s largest integrated oil companies. The real estate assets retained after the spin-off became Getty Realty and the nationwide portfolio of convenience and automotive retail assets that the Company owns today. GTY is headquartered in New York and has paid uninterrupted dividends since 1975.
Kelley Wright, IQ Trends, iqtrends.com/, info@iqtrends.com, 866.927.5250, First February 2022