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Getty Realty Corp (GTY) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

SEC Filings

GTY Annual Reports

Getty Realty Corp

CIK: 1052752 Ticker: GTY

Exhibit 99.1

 

FOR IMMEDIATE RELEASE

GETTY REALTY CORP. ANNOUNCES

FOURTH QUARTER AND FULL YEAR 2021 RESULTS

- Exceeds High End of 2021 Guidance -

- Provides 2022 Annual Guidance -

NEW YORK, NY, February 23, 2022

— Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”) announced today its financial results for the quarter and year ended December 31, 2021.

Fourth Quarter 2021 Highlights

Net earnings: $0.38 per share

Funds From Operations (“FFO”): $0.47 per share

Adjusted Funds From Operations (“AFFO”): $0.51 per share

AFFO excluding stock-based compensation and amortization of debt issuance costs: $0.54 per share

Invested $64.4 million across 23 properties

Completed two redevelopment projects

Amended and extended $300 million revolving credit facility

Full Year 2021 Highlights

Net earnings: $1.37 per share

FFO: $1.88 per share

AFFO: $1.97 per share

AFFO excluding stock-based compensation and amortization of debt issuance costs: $2.08 per share

Invested $200.0 million across 100 properties

Completed five redevelopment projects

Raised $94.1 million via the Company’s ATM equity program

“Our performance in 2021 demonstrated the effective execution of our business plan as we continue to expand our platform, grow our portfolio and increase profitability,” stated Christopher J. Constant, Getty’s President & Chief Executive Officer. “With a focused investment strategy and efficient access to capital, we invested $200 million in convenience and automotive retail real estate during the year, including $64 million in the fourth quarter. These investments consisted of the acquisition, development funding and/or redevelopment of more than 100 properties including convenience stores, car wash properties, auto service centers and a drive-thru quick service restaurant.”

Mr. Constant continued, “The effective execution of our growth strategy has allowed us to enhance and diversify our portfolio by tenant, geography and property type. This external growth, combined with the durable rental income from our portfolio of essential use assets, resulted in 7% AFFO per share growth


The following information was filed by Getty Realty Corp (GTY) on Wednesday, February 23, 2022 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 2022 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 - Additional Information (Detail)
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 - Additional Information (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 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 Supplemental Cash Flow Information Related To Leases (Detail)
Leases - Summary Of Weighted-Average Remaining Lease Terms And Discount Rates (Detail)
Property Acquisitions
Property Acquisitions - Additional Information (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 - 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 (Parenthetical) (Detail)
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 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: 0001564590-22-006773
Submitted to the SEC: Thu Feb 24 2022 5:16:00 PM EST
Accepted by the SEC: Thu Feb 24 2022
Period: Friday, December 31, 2021
Industry: Real Estate

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