Getty Realty Corp (GTY) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Exhibit 99.1

FOR IMMEDIATE RELEASE

GETTY REALTY CORP. ANNOUNCES SECOND QUARTER 2021 RESULTS

- Increases 2021 Annual Guidance -

NEW YORK, NY, July 28, 2021

Second Quarter Highlights

“Our second quarter performance reflects the strength of our in-place portfolio, as well as the compelling growth opportunity in the convenience and automotive retail sectors,” stated Christopher J. Constant, Getty’s President & Chief Executive Officer. “During the quarter, we invested in 46 oil change centers, three car washes and four convenience stores, as well as a tire service center which closed subsequent to quarter end, bringing our year-to-date investment activity to $79 million. The net results of this recent activity include an 11% increase in AFFO per share for the second quarter, and an increase in our 2021 annual AFFO per share guidance. With an improving cost of capital, a strong track record of investing in freestanding properties offering essential goods and services, and attractive tailwinds in the convenience and broader automotive industries, we are confident in our platform’s ability to deliver continued growth.”

Net Earnings

Net earnings for the three months ended June 30, 2021 were $12.9 million, or $0.28 per share, as compared to net earnings of $11.0 million, or $0.26 per share, for the same period in 2020. Net earnings for the six months ended June 30, 2021 were $30.8 million, or $0.68 per share, as compared to net earnings of $23.7 million, or $0.56 per share, for the same period in 2020.

Funds From Operations (FFO) and Adjusted Funds From Operations (AFFO)

FFO for the three months ended June 30, 2021 was $22.0 million, or $0.49 per share, as compared to $18.6 million, or $0.44 per share, for the same period in 2020. FFO for the six months ended June 30, 2021 was $42.0 million, or $0.93 per share, as compared to $38.6 million, or $0.91 per share, for the same period in 2020.

AFFO for the three months ended June 30, 2021 was $22.1 million, or $0.49 per share, as compared to $18.6 million, or $0.44 per share, for the same period in 2020. AFFO for the six months ended June 30, 2021 was $43.1 million, or $0.96 per share, as compared to $37.9 million, or $0.90 per share, for the same period in 2020.

All per share amounts are presented on a fully diluted per common share basis, unless stated otherwise. FFO and AFFO are “Non-GAAP Financial Measures” which are defined and reconciled to net earnings in the financial tables at the end of this release.