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Getty Realty (GTY)

Getty Realty Corp. is the leading publicly traded real estate investment trust ('REIT') in the United States specializing in the acquisition, ownership, leasing, financing and redevelopment of convenience stores, gasoline stations and other automotive-related and retail real estate, including express car washes, automotive service centers, automotive parts retailers and select other properties. As of December 31, 2020, the Company owned 901 properties and leased 58 properties from third-party landlords in 35 states across the United States and Washington, D.C.

Company profile

Ticker
GTY
Exchange
CEO
Christopher J. Constant
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
GETTY REALTY HOLDING CORP
SEC CIK
Subsidiaries
AOC Transport, Inc. • GettyMart Inc. • Getty HI Indemnity, Inc. • Getty Leasing, Inc. • Getty Properties Corp. • Getty TM Corp. • GTY Auto Service, LLC • GTY MA/NH Leasing, Inc. • GTY MD Leasing, Inc. • GTY NY Leasing, Inc. ...
IRS number
113412575

GTY stock data

Analyst ratings and price targets

Last 3 months

Calendar

28 Jul 22
1 Oct 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 21.73M 21.73M 21.73M 21.73M 21.73M 21.73M
Cash burn (monthly) 12.32M (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 37.51M n/a n/a n/a n/a n/a
Cash remaining -15.78M n/a n/a n/a n/a n/a
Runway (months of cash) -1.3 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 May 22 Howard B Safenowitz Common Stock Gift Dispose G No No 0 3,600 0 148,574
2 Mar 22 Christopher J Constant RSU Common Stock Option exercise Dispose M No No 0 2,500 0 185,250
2 Mar 22 Joshua Dicker RSU Common Stock Option exercise Dispose M No No 0 5,000 0 144,650
1 Mar 22 Christopher J Constant RSU Common Stock Grant Acquire A No No 0 40,000 0 187,750
1 Mar 22 Mark James Olear Restircted Stock Unit Common Stock Grant Acquire A No No 0 25,500 0 130,650
1 Mar 22 Joshua Dicker RSU Common Stock Grant Acquire A No No 0 25,500 0 149,650
1 Mar 22 Eugene Shnayderman RSU Common Stock Grant Acquire A No No 0 12,500 0 50,250
12.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 193 206 -6.3%
Opened positions 13 20 -35.0%
Closed positions 26 31 -16.1%
Increased positions 82 82
Reduced positions 68 74 -8.1%
13F shares Current Prev Q Change
Total value 967.92M 1.04B -7.0%
Total shares 35.97M 36.04M -0.2%
Total puts 0 0
Total calls 36.6K 29.3K +24.9%
Total put/call ratio
Largest owners Shares Value Change
BLK Blackrock 7.37M $195.2M +2.2%
Vanguard 6.69M $177.23M +4.1%
STT State Street 2.68M $72.2M +2.3%
Howard B Safenowitz 2.46M $78.81M 0.0%
Renaissance Technologies 1.26M $33.28M -4.9%
American Century Companies 959.96K $25.44M -10.7%
Brown Advisory 905.47K $24M -3.1%
Geode Capital Management 850.5K $22.54M +1.4%
IVZ Invesco 804.32K $21.31M -10.0%
JPM JPMorgan Chase & Co. 643.56K $17.05M -4.8%
Largest transactions Shares Bought/sold Change
Vanguard 6.69M +264.41K +4.1%
Parametric Portfolio Associates 0 -202.2K EXIT
BLK Blackrock 7.37M +155.8K +2.2%
MS Morgan Stanley 537.57K +151.76K +39.3%
Hill Winds Capital 240K +125K +108.7%
American Century Companies 959.96K -114.54K -10.7%
IVZ Invesco 804.32K -89.15K -10.0%
State of New Jersey Common Pension Fund D 0 -88.8K EXIT
Millennium Management 200.22K +84.94K +73.7%
SG Americas Securities 19.78K -66.47K -77.1%

Financial report summary

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Management Discussion
  • ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • Certain statements in this Quarterly Report on Form 10-Q may constitute “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Statements preceded by, followed by, or that otherwise include the words “believes,” “expects,” “seeks,” “plans,” “projects,” “estimates,” “anticipates,” “predicts” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and are not historical facts. (All capitalized and undefined terms used in this section shall have the same meanings hereafter defined in this Quarterly Report on Form 10-Q.)
  • Examples of forward-looking statements included in this Quarterly Report on Form 10-Q include, but are not limited to, our statements regarding our network of convenience stores, car washes, automotive service centers, automotive parts retailers, and certain other freestanding retailers; substantial compliance of our properties with federal, state and local provisions enacted or adopted pertaining to environmental matters; the effects of recently enacted U.S. federal tax reform and other legislative, regulatory and administrative developments; the impact of existing legislation and regulations on our competitive position; our prospective future environmental liabilities, including those resulting from preexisting unknown environmental contamination; the impact of the novel coronavirus (“COVID-19”) pandemic on our business and results of operations; our expectations regarding our growth strategy; quantifiable trends, which we believe allow us to make reasonable estimates of fair value for the future costs of environmental remediation resulting from the removal and replacement of USTs; the impact of our redevelopment efforts related to certain of our properties; the amount of revenue we expect to realize from our properties; our belief that our owned and leased properties are adequately covered by casualty and liability insurance; our workplace demographics, recruiting efforts, and employee compensation program; FFO and AFFO as measures that represent our core operating performance and its utility in comparing our core operating performance between periods; the reasonableness of our estimates, judgments, projections and assumptions used regarding our accounting policies and methods; our critical accounting policies; our exposure and liability due to and our accruals, estimates and assumptions regarding our environmental liabilities and remediation costs; loan loss reserves or allowances; our belief that our accruals for environmental and litigation matters, including matters related to our former Newark, New Jersey Terminal and the Lower Passaic River, our MTBE multi-district litigation cases in the states of Pennsylvania and Maryland, were appropriate based on the information then available; our claims for reimbursement of monies expended in the defense and settlement of certain MTBE cases under pollution insurance policies; compliance with federal, state and local provisions enacted or adopted pertaining to environmental matters; our beliefs about the settlement proposals we receive and the probable outcome of litigation or regulatory actions and their impact on us; our expected recoveries from UST funds; our indemnification obligations and the indemnification obligations of others; our investment strategy and its impact on our financial performance; the adequacy of our current and anticipated cash flows from operations, borrowings under our Second Restated Credit Agreement and available cash and cash equivalents; our continued compliance with the covenants in our Second Restated Credit Agreement and our senior unsecured notes; our belief that certain environmental liabilities can be allocated to others under various agreements; our belief that our real estate assets are not carried at amounts in excess of their estimated net realizable fair value amounts; our beliefs regarding our properties, including their alternative uses and our ability to sell or lease our vacant properties over time; and our ability to maintain our federal tax status as a REIT.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Avg
New words: attempted, Austin, demolition, fabricated, Lookback, month, older, Placeholder, prudent, pursuit, Similarly, subset, TX
Removed: assigned, assignment, assuming, borne, divested, found, occupancy, replaced, thereunder