Getty Realty Corp. reported its financial results for the third quarter and the nine months ended September 30, 2025, showing a notable increase in revenue and profitability compared to the same period in 2024. The company generated total revenues of $55.6 million for the third quarter, up from $51.5 million in the prior year, and $161.2 million for the nine months, compared to $150.4 million in 2024. Net earnings for the third quarter were $23.3 million, or $0.40 per share, compared to $15.3 million, or $0.27 per share, in the same quarter last year. For the nine-month period, net earnings increased to $52.1 million, or $0.89 per share, from $48.8 million, or $0.87 per share.
The company’s revenue growth was primarily driven by an increase in rental income, which rose to $55.2 million for the third quarter, up from $50.5 million in 2024. This increase was attributed to additional base rental income from properties acquired in the previous year, as well as contractual rent escalations. However, tenant reimbursement income decreased significantly, reflecting a transition of certain tenants to direct payment of real estate taxes. Operating expenses for the third quarter decreased to $21.2 million from $24.8 million, largely due to lower property costs and environmental expenses.
In terms of strategic developments, Getty Realty acquired 53 properties for a total of $140 million during the nine months ended September 30, 2025. This included various types of properties such as convenience stores and express tunnel car washes. The company also reported a net gain of $2.2 million from the disposition of real estate during the same period. As of September 30, 2025, Getty Realty owned 1,130 properties and leased 30 from third-party landlords, with a total portfolio valued at approximately $2.1 billion.
Looking ahead, Getty Realty maintains a positive outlook, supported by its strong portfolio and strategic acquisitions. The company has $260 million available under its credit facility and anticipates generating approximately $113 million from forward sales agreements. The management emphasized its commitment to maintaining its REIT status and distributing at least 90% of its taxable income to shareholders, although future dividends will depend on market conditions and financial performance. The company continues to monitor its tenants' financial health, particularly in light of potential economic fluctuations that could impact their ability to meet lease obligations.
About GETTY REALTY CORP /MD/
Getty Realty Corp. is a REIT focused on acquiring, financing, and developing single-tenant retail properties, primarily convenience stores, automotive service centers, car washes, and related retail outlets across the U.S. Its portfolio emphasizes highly trafficked locations, leased on triple-net terms, serving tenants in the convenience and petroleum industries. The company aims to generate income and appreciation through strategic property investments, redevelopment, and diversification.
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