Getty Realty reported third quarter 2026 net earnings of $0.40 per diluted share and Adjusted Funds From Operations (AFFO) of $0.64 per diluted share. Results were driven by record acquisition volume and consistent organic rent growth, prompting management to raise the lower end of its full-year earnings guidance.
Key Highlights
- Year-to-date investment activity reached $502.3 million at an initial cash yield of 7.2%, including $297.4 million deployed across 68 properties in the third quarter.
- Base rental income increased 13.8% year-over-year to $59.3 million, primarily reflecting incremental revenue from recent acquisitions and contractual rent escalators.
- Raised full-year 2026 AFFO guidance to a range of $2.53 to $2.54 per share, up from the previous range of $2.52 to $2.54.
- Strengthened the balance sheet by settling 5.1 million shares for $164.6 million in net proceeds and establishing a new $200 million senior unsecured term loan subsequent to quarter-end.