Getty Realty Corp. (NYSE: GTY) released its financial results for the quarter ended September 30, 2026, and updated its full-year outlook. The company reported net earnings of $25.6 million for the third quarter of 2026, or $0.40 per share on a fully diluted basis. Funds From Operations (FFO) for the same period were $38.9 million, or $0.61 per share, while Adjusted Funds From Operations (AFFO) totaled $41.1 million, or $0.64 per share.
For the nine months ended September 30, 2026, net earnings were $74.8 million, or $1.18 per share. FFO for the nine months was $118.6 million, or $1.89 per share, while AFFO reached $119.0 million, or $1.89 per share. The company noted that base rental income grew 13.8% to $59.3 million for the quarter and 13.2% to $171.7 million for the first nine months of the year.
In terms of investment activity, Getty invested $297.4 million across 68 properties during the quarter at a 6.9% initial cash yield. This included the acquisition of 53 properties for $286.0 million, consisting of 42 convenience stores, nine auto service centers, and two drive-thru quick service restaurants. The company also invested an additional $46.3 million at a 7.6% initial cash yield subsequent to the quarter end. Year-to-date, the company has invested a total of $502.3 million at a 7.2% initial cash yield.
Regarding its balance sheet, Getty had $1.2 billion of total indebtedness as of September 30, 2026. This included $1.0 billion in senior unsecured notes with a weighted average interest rate of 4.5% and a weighted average maturity of 5.5 years, as well as $200.0 million outstanding on its unsecured revolving credit facility. Subsequent to quarter end, the company amended its credit agreement to add a new $200.0 million senior unsecured term loan maturing in October 2028, with an effective interest rate of 5.03%. The proceeds from the term loan were used to repay borrowings under the Revolver.
Getty is increasing its 2026 AFFO guidance to a range of $2.53 to $2.54 per diluted share, up from the prior range of $2.52 to $2.54 per diluted share. The company will host a conference call and webcast on Thursday, October 22, 2026, at 8:30 a.m. EST.
