REIT Firm Getty Realty's Business Update: Diversified Portfolio Activities, Initial FY24 Earnings Guidance & More
Portfolio Pulse from Akanksha Bakshi
Getty Realty Corp. (NYSE:GTY) reported on its 4Q23 and FY23 business activities, including $326 million invested in properties, a $75 million investment pipeline, and $295 million raised in new equity and debt. The company made several acquisitions, sold nine properties, and provided initial FY24 earnings guidance with AFFO expected to be $2.29 to $2.31 per diluted share. GTY shares saw a 1.01% increase to $29.57.
January 10, 2024 | 5:44 pm
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POSITIVE IMPACT
Getty Realty Corp. (GTY) had a strong year with significant investments and capital raising, and provided a positive AFFO guidance for FY24.
The positive business update and initial FY24 earnings guidance are likely to instill investor confidence in Getty Realty's growth and financial health, potentially leading to a short-term positive impact on GTY's stock price. The recent 1.01% increase in share price reflects a positive market reaction to the news.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100