GTY Earnings Prediction
The chart below shows how GTY performed 10 days before and after its earnings report, based on data from the past quarters. Typically, GTY sees a -1.09% change in stock price 10 days leading up to the earnings, and a +2.02% change 10 days following the report. On the earnings day itself, the stock moves by -0.78%. This data can give you a slight idea of what to expect for the next quarter's release.
GTY Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
51.47M
1.94%
3.06%
Gross Margin
91.78%
11.75%
-0.58%
Operating Margin
53.10%
9.73%
-0.19%
Net Margin
29.80%
-6.17%
-10.94%
EPS
0.27
-12.90%
-10.00%
No Data Available
GTY Earnings Analysis
Getty Realty Corp. Corporation (GTY.N) Earnings Conference Call
Positive
Base Rent Increase: 1. Annualized Base Rent Growth: Getty Realty reported a 13.1% increase in annualized base rent (ABR) to $190 million compared to $168 million in the prior year.
AFFO Per Share Growth: 2. AFFO Per Share Increase: The company achieved a 3.5% growth in adjusted funds from operations (AFFO) per share, reaching $0.59 for Q3 2024, and a year-to-date increase of 3.6% to $1.74.
Investment Strategy Success: 3. Strong Investment Activity: Year-to-date, Getty has invested approximately $148 million at an initial cash yield of 8%, reflecting the strength of its investment strategy in the convenience and automotive retail sectors.
Dividend Growth Announcement: 4. Dividend Increase: The Board approved a 4.4% increase in the quarterly dividend to $0.47 per share, marking the 11th consecutive year of dividend growth.
Occupancy Rate Performance: 5. High Occupancy Rate: The company's lease portfolio maintained an impressive occupancy rate of 99.7%, with a weighted average lease term of 10.1 years, indicating strong tenant commitment.
Negative
G&A Expense Management: 1. Increased G&A Expenses: Total G&A as a percentage of total revenue was 12.5%, a decrease of only 50 basis points from the prior year, indicating limited improvement in cost management despite rising revenues.
High Leverage Concerns: 2. High Leverage Ratios: As of September 30, 2024, net debt to EBITDA was reported at 5x, which is at the upper end of the targeted leverage range of 4.5x to 5.5x, suggesting potential financial strain.
Property Quality Decline: 3. Declining Property Quality: The sale of 23 properties to Global Partners, which were removed from the unitary lease, indicates a strategic retreat from lower-quality assets, reducing annualized base rent by $825,000.
Bid-Ask Spread Issues: 4. Bid-Ask Spread Challenges: The persistent material bid-ask spreads between buyers and sellers in the market indicate ongoing challenges in executing transactions at favorable terms, potentially impacting future growth.
Earnings Guidance Uncertainty: 5. Uncertain Earnings Guidance: The raised 2024 AFFO guidance to $2.32 to $2.33 per share reflects variability in operating expenses and anticipated costs, highlighting uncertainty in financial performance going forward.
GTY FAQs
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GTY Earning Call Sentiment
Getty Realty Corp. (GTY) Q3 2024 Earnings Call Transcript
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GTY.N
-1.47%Positive
The earnings call indicates strong financial performance with increased AFFO guidance, solid investment activity, and a healthy liquidity position. The 4.4% dividend increase is a positive signal for shareholder returns. Despite some concerns in the Q&A about competition and tenant risks, management appears confident in their strategy. Market cap suggests moderate stock price sensitivity, so a positive sentiment is expected, likely resulting in a 2% to 8% stock price increase over the next two weeks.
