This Day On The Street
Continue to site
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 Results For The First Quarter 2014

Getty Realty Corp. (NYSE-GTY) (“Getty” or the “Company”) announced its financial results for the quarter ended March 31, 2014.

Highlights For The Quarter Ended March 31, 2014 :
  • Funds from operations (FFO) per share increased to $0.31 per share from $0.25 per share for the same quarter last year.
  • Adjusted funds from operations (AFFO) per share increased to $0.27 per share from $0.18 per share for the same quarter last year.
  • Net income of $0.29 per share.
  • Completed the sale of 28 properties for $10.1 million in the aggregate.

David B. Driscoll, Getty’s Chief Executive Officer commented, “We are truly proud of our efforts which produced a meaningful per share increase in FFO and AFFO year over year since the end of the first quarter of 2013. We are finally capturing the benefits from the initiatives we put in place over the past few years which are resulting in a portfolio that is stronger and producing a reliable stream of cash flow. Our capital recycling efforts have also eliminated many properties that were not contributing to our earnings. As we move ahead, we believe that we have a stabilized portfolio of properties, a stronger and more diverse roster of tenants and we expect to be able to continue to harvest the benefits for all our shareholders in the coming years.”

Net Earnings:

The Company reported net earnings for the quarter ended March 31, 2014 of $9.6 million, or $0.29 per share, as compared to $10.4 million, or $0.31 per share for the quarter ended March 31, 2013.

Funds From Operations (FFO) and Adjusted Funds From Operations (AFFO):

FFO was $10.5 million for the quarter ended March 31, 2014, as compared to $8.5 million for the quarter ended March 31, 2013. FFO per share increased by 24% to $0.31 per share for the quarter ended March 31, 2014, as compared to $0.25 per share for the quarter ended March 31, 2013. The increase was driven primarily by revenues from the Company’s May 2013 acquisition and reductions in operating expenses associated with leasing an increasing number of properties on a triple-net basis and the Company’s disposition efforts.

1 of 5

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs