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

Earnings Press Release
10-K Annual Report
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Getty Realty Corp
Ticker: GTY CIK: 1052752

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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