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Getty Realty Corp (GTY) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

Getty Realty Corp

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CIK: 1052752 Ticker: GTY

Exhibit 99.1

FOR IMMEDIATE RELEASE

GETTY REALTY CORP. ANNOUNCES

FOURTH QUARTER AND FULL YEAR 2022 RESULTS

- Exceeds High End of 2022 Guidance -

NEW YORK, NY, February 22, 2023

— Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”) announced today its financial results for the quarter and year ended December 31, 2022.

Fourth Quarter 2022 Highlights

•
Net earnings: $0.57 per share
•
Funds From Operations (“FFO”): $0.63 per share
•
Adjusted Funds From Operations (“AFFO”): $0.55 per share
•
Invested $83.3 million across 36 properties
•
Completed one redevelopment project

Full Year 2022 Highlights

•
Net earnings: $1.88 per share
•
FFO: $2.44 per share
•
AFFO: $2.14 per share
•
Invested $157.5 million across 52 properties
•
Completed two redevelopment projects

“2022 demonstrated the ongoing successful execution of our strategies to deliver reliable earnings growth, portfolio diversification, and platform expansion,” stated Christopher J. Constant, Getty’s President & Chief Executive Officer. “For the year, we invested more than $157 million in 52 properties across multiple property types and growing metro areas, while maintaining our disciplined approach amid an uncertain macro environment.”

Mr. Constant continued, “As we look ahead, we are positioned to continue our growth trajectory with more than $110 million of investments currently under contract. We have ample capacity to fund this growth as a result of our 2022 capital markets activity, including more than $115 million of unsettled forward equity. Lastly, we remain focused on total shareholder returns and are pleased that our Board of Directors approved a 5% dividend raise in the fourth quarter, marking the eighth consecutive year of a substantial dividend increase.”

 

1

 

The following information was filed by Getty Realty Corp (GTY) on Wednesday, February 22, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Getty Realty Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2023 10-K Annual Report includes:

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Inside Getty Realty Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Acquired Intangible Assets
Acquired Intangible Assets (Tables)
Acquired Intangible Assets - Additional Information (Detail)
Acquired Intangible Assets - Schedule Of Amortization For Acquired Intangible Assets (Detail)
Assets Held For Sale
Assets Held For Sale (Tables)
Assets Held For Sale - Additional Information (Detail)
Assets Held For Sale - Summary Of Real Estate Held For Sale (Detail)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Debt
Debt (Tables)
Debt - Additional Information (Detail)
Debt - Schedule Of Maturity Amounts Outstanding Under Credit Agreement And Senior Unsecured Notes (Detail)
Debt - Schedule Of Maturity Amounts Outstanding Under Credit Agreement And Senior Unsecured Notes (Parenthetical) (Detail)
Debt - Summary Of Scheduled Debt Maturities, Including Balloon Payments (Detail)
Debt - Summary Of Scheduled Debt Maturities, Including Balloon Payments (Parenthetical) (Detail)
Earnings Per Common Share
Earnings Per Common Share (Tables)
Earnings Per Common Share - Computation Of Basic And Diluted Earnings Per Common Share (Detail)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Additional Information (Detail)
Employee Benefit Plans - Schedule Of Activity Relating To Restricted Stock Units Outstanding (Detail)
Employee Benefit Plans - Schedule Of Vesting Activity Relating To Restricted Stock Units Outstanding (Detail)
Environmental Obligations
Environmental Obligations - Additional Information (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Detail)
Fair Value Measurements - Schedule Of Assets And Liabilities Measured At Fair Value On Recurring Basis (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Summary Of Federal Tax Attributes Of Common Dividends (Detail)
Leases
Leases (Tables)
Leases - Additional Information (Detail)
Leases - Future Contractual Annual Rentals Receivable (Detail)
Leases - Getty Petroleum Marketing Inc. - Additional Information (Detail)
Leases - Major Tenants - Additional Information (Detail)
Leases - Schedule Of Components Of Investment In Direct Financing Leases (Detail)
Leases - Schedule Of Information Related To Lease Costs For Finance And Operating Leases (Detail)
Leases - Schedule Of Lease-Related Assets And Liabilities (Detail)
Leases - Schedule Of Reconciles The Undiscounted Cash Flows For Direct Financing Lease Liabilities And Operating Lease Liabilities (Detail)
Leases - Schedule Of Significant Tenants By Revenue (Detail)
Leases - Schedule Of Supplemental Cash Flow Information Related To Leases (Detail)
Leases - Summary Of Weighted-Average Remaining Lease Terms And Discount Rates (Detail)
Property Acquisitions
Property Acquisitions (Tables)
Property Acquisitions - Additional Information (Detail)
Property Acquisitions - Summary Of Purchase Price Allocation (Detail)
Quarterly Financial Data - Summary Of Quarterly Results Of Operations (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization - Schedule Of Changes In Real Estate Assets And Accumulated Depreciation (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 1 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 10 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 11 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 12 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 13 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 14 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 15 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 16 (Details)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 17 (Parenthetical) (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 18 (Parenthetical) (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 19 (Parenthetical) (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 2 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 3 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 4 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 5 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 6 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 7 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 8 (Detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 9 (Detail)
Schedule Iv - Additional Information (Detail)
Schedule Iv - Changes In Carrying Amount Of Mortgage Loans (Detail)
Schedule Iv - Mortgage Loans On Real Estate
Schedule Iv - Mortgage Loans On Real Estate (Detail)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Detail)
Stockholders' Equity - Summary Of Changes In Stockholders' Equity (Detail)
Stockholders' Equity - Summary Of Changes In Stockholders' Equity (Parenthetical) (Detail)
Subsequent Events
Subsequent Events - Additional Information (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Additional Information (Detail)
Ticker: GTY
CIK: 1052752
Form Type: 10-K Annual Report
Accession Number: 0000950170-23-004172
Submitted to the SEC: Thu Feb 23 2023 5:19:40 PM EST
Accepted by the SEC: Thu Feb 23 2023
Period: Saturday, December 31, 2022
Industry: Real Estate

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