This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Getty Realty Corp. Announces Preliminary Financial Results For The Quarter And Year Ended December 31, 2012

Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”) announced its preliminary financial results for the quarter and year ended December 31, 2012, the refinancing of its outstanding debt with a new $175 million credit facility and a $100 million long-term senior secured term loan.

David B. Driscoll, Getty’s President and CEO commented, “We became a fundamentally new company during 2012 as we largely completed a significant transformation resulting from the repositioning of our properties formerly leased to Getty Petroleum Marketing. By year end we had largely completed our re-leasing program and we believe that during the first six months of 2013 we will achieve stabilized levels of operating performance. In addition, we have been able to refinance our maturing debt with a combination of bank debt and attractively priced long-term fixed rate debt. This refinance not only strengthens our balance sheet, it also provides the Company with ample capacity to fund additional growth as we move forward. Together, these positive developments have provided us with the confidence to raise our dividend for the first quarter by 60% over the previous quarterly dividend rate declared in 2012. As we move further into 2013, we have re-initiated our pursuit of growth via accretive acquisitions to create additional value for our shareholders.”

Financial Results:

Net Earnings:

The Company reported net earnings for the quarter ended December 31, 2012 of $5.8 million, or $0.17 per share, which increased by $25.3 million as compared to a net loss of $19.5 million, or $0.58 per share, for the quarter ended December 31, 2011. Net earnings for the year ended December 31, 2012 decreased by $0.1 million to $12.4 million, or $0.37 per share, as compared to $12.5 million, or $0.37 per share, for the year ended December 31, 2011.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs