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Jun 30, 2024
Getty Q2 2024 Earnings Report
Reported second quarter results with $104 million invested year-to-date and increased full year earnings guidance.
Key Takeaways
Getty Realty Corp. announced its Q2 2024 financial results, featuring net earnings of $0.30 per share, FFO of $0.55 per share, and AFFO of $0.58 per share. The company invested $61.7 million across 23 properties at an 8.1% initial cash yield. They also increased their 2024 full year AFFO guidance to a range of $2.30 to $2.32 per diluted share.
Net earnings were $0.30 per share.
Funds From Operations (FFO) reached $0.55 per share.
Adjusted Funds From Operations (AFFO) was $0.58 per share.
Invested $61.7 million across 23 properties at an 8.1% initial cash yield.
Revenue by Segment
Forward Guidance
The Company is increasing its 2024 AFFO guidance to a range of $2.30 to $2.32 per diluted share from the prior range of $2.29 to $2.31 per diluted share.
Positive Outlook
- Year-to-date investment activity.
- Capital markets activity.
- Completed transaction activity as of the date of this release.
- Focus on delivering sustained earnings growth.
- Disciplined approach to capital allocation.
Challenges Ahead
- Does not include assumptions for any prospective acquisitions.
- Does not include dispositions.
- Does not include capital markets activities (including the settlement of outstanding forward sale agreements).
- Guidance is based on current assumptions.
- Subject to risks and uncertainties described in the press release and the Company’s periodic reports filed with the SEC.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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