Getty Realty Corp. Provides 2023 Business Update; Announces Its 2024 AFFO Guidance At A Range Of $2.29-$2.31 Per Diluted Share
Portfolio Pulse from Benzinga Newsdesk
Getty Realty Corp. (NYSE:GTY) reported a record year of investment activity in 2023, with approximately $326 million invested in convenience and automotive retail assets. The company also raised $295 million in new equity and debt capital. Getty announced its 2024 AFFO guidance at $2.29-$2.31 per diluted share, which does not account for future acquisitions, dispositions, or capital market activities. The company's portfolio expanded with acquisitions, development funding, and redevelopments, while also selling nine properties for $12 million.
January 10, 2024 | 1:26 pm
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Getty Realty Corp. had a strong investment year in 2023 and provided positive AFFO guidance for 2024, indicating potential growth and stability in earnings.
The record investment activity and successful capital raising efforts in 2023, along with the positive AFFO guidance for 2024, suggest a strong financial position and potential for continued growth. This is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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