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Getty Realty Corp (GTY) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Getty Realty Corp

CIK: 1052752 Ticker: GTY

Exhibit 99.1

RELEASE: IMMEDIATE

GETTY REALTY CORP. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2015 RESULTS

- Increase in Annual AFFO per Share -

- Provides 2016 Annual AFFO per Share Guidance -

JERICHO, NY, March 9, 2016

— Getty Realty Corp. (NYSE-GTY) (“Getty” or the “Company”) announced its financial results for the quarter and year ended December 31, 2015.

Highlights for the Fourth Quarter Ended December 31, 2015:

 

 

 

Funds from operations (FFO) of $0.77 per share

 

 

 

Adjusted funds from operations (AFFO) of $0.68 per share

 

 

 

Acquired one property for $0.9 million

 

 

 

Disposed of 12 properties for $2.9 million in the aggregate

 

 

 

Received $10.8 million from the Marketing Estate

“We produced another strong year of Adjusted Funds from Operations per share growth, and we are continuing to position the Company to extract additional value as we move forward,” stated Christopher J. Constant, Getty’s Chief Executive Officer. “During 2015, we increased our net lease portfolio by more than 100 properties through a combination of targeted acquisition and repositioning activities. At the same time, we reduced the number of our transitional properties by more than 75% during the year. When we combine our 2015 achievements with our ongoing efforts to maximize the value of certain of our properties though select redevelopment, we are well positioned to enhance long-term shareholder value.”

Net Earnings:

The Company reported net earnings for the quarter ended December 31, 2015 of $19.9 million, or $0.59 per share, as compared to a net loss of $3.1 million, or $0.10 per share, for the quarter ended December 31, 2014. The Company reported net earnings for the year ended December 31, 2015 of $37.4 million, or $1.11 per share, as compared to net earnings of $23.4 million, or $0.69 per share, for the year ended December 31, 2014. Net earnings for the quarter and year ended December 31, 2015 included distributions from the Marketing Estate (as defined below) of approximately $10.8 million and $18.2 million, or $0.32 per share and $0.54 per share, respectively.

All per share amounts in this press release are presented on a fully diluted per common share basis, unless stated otherwise. AFFO and FFO are defined and reconciled to net earnings in the financial tables at the end of this release. Beginning in the fourth quarter of 2014, the Company revised its definition of AFFO, see “Non-GAAP Financial Measures” below.


The following information was filed by Getty Realty Corp (GTY) on Wednesday, March 9, 2016 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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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
Commitments And Contingencies
Commitments And Contingencies - Additional Information (detail)
Credit Agreement And Prudential Loan Agreement - Schedule Of Maturity Date And Amounts Outstanding Under Credit Agreement And Restated Prudential Note Purchase Agreement (detail)
Credit Agreement And Senior Unsecured Notes
Credit Agreement And Senior Unsecured Notes (tables)
Credit Agreement And Senior Unsecured Notes - Additional Information (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)
Income Taxes
Income Taxes - Additional Information (detail)
Leases
Leases (tables)
Leases - Additional Information (detail)
Leases - Future Contractual Minimum Annual Rentals Receivable (detail)
Leases - Major Tenants - Additional Information (detail)
Leases - Marketing And The Master Lease - Additional Information (detail)
Leases - Necg Lease Restructuring - Additional Information (detail)
Property Acquisitions
Property Acquisitions (tables)
Property Acquisitions - 2014 Activity - Additional Information (detail)
Property Acquisitions - 2015 Activity - Additional Information (detail)
Property Acquisitions - Acquired Intangible Assets - Additional Information (detail)
Property Acquisitions - Pro Forma Condensed Financial Information (detail)
Property Acquisitions - Schedule Of Amortization For Acquired Intangible Assets (detail)
Quarterly Financial Data
Quarterly Financial Data (tables)
Quarterly Financial Data - Summary Of Quarterly Results Of Operations (detail)
Schedule Ii - Valuation And Qualifying Accounts And Reserves
Schedule Ii - Valuation And Qualifying Accounts And Reserves (detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization (parenthetical) (detail)
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) (detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 2 (detail) (detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 3 (detail) (detail)
Schedule Iii - Real Estate And Accumulated Depreciation And Amortization Part 4 (detail) (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)
Shareholders' Equity
Shareholders' Equity (tables)
Shareholders' Equity - Additional Information (detail)
Shareholders' Equity - Summary Of Changes In Shareholders' Equity (detail)
Shareholders' Equity - Summary Of Changes In Shareholders' Equity (parenthetical) (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Summary Of Significant Accounting Policies - Schedule Of Assets And Liabilities Measured At Fair Value On Recurring Basis (detail)
Summary Of Significant Accounting Policies - Schedule Of Earnings (loss) From Discontinued Operations (detail)
Summary Of Significant Accounting Policies - Schedule Of Earnings Per Share (detail)
Summary Of Significant Accounting Policies - Schedule Of Real Estate Held For Sale (detail)
Ticker: GTY
CIK: 1052752
Form Type: 10-K Annual Report
Accession Number: 0001193125-16-500301
Submitted to the SEC: Thu Mar 10 2016 5:18:39 PM EST
Accepted by the SEC: Thu Mar 10 2016
Period: Thursday, December 31, 2015
Industry: Real Estate

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