Getty Realty Corp. reported Adjusted Funds From Operations (AFFO) of $0.62 per share for the second quarter of 2026, reflecting a 5.1% increase from $0.59 per share in the prior year. The net lease REIT also posted total revenues of $59.051 million, a 10.9% rise compared to $53.257 million in the same period last year, driven by growth in base rental income and recent acquisitions. Based on its performance, the company increased its 2026 full-year AFFO guidance to a range of $2.52 to $2.54 per diluted share, up from the previous range of $2.50 to $2.52.

Financial Performance Summary

For the quarter ended June 30, 2026, net earnings were $0.36 per share, up from $0.24 per share in the prior year. Funds From Operations (FFO) stood at $0.59 per share, compared to $0.49 per share in the second quarter of 2025. The growth in revenues was primarily attributed to a 13.2% increase in base rental income to $56.6 million, fueled by incremental revenue from new properties and contractual rent increases.

Portfolio and Capital Activities

During the quarter, Getty Realty invested $128.3 million across 42 properties at a 7.4% initial cash yield. Subsequent to the quarter end, the company invested an additional $13.5 million at an 8.2% initial cash yield, bringing total year-to-date investment activity to $172.1 million at a 7.6% initial cash yield. As of July 22, 2026, the company maintained a committed investment pipeline of more than $95.0 million for 30 convenience and automotive retail properties.

The company also settled approximately 1.5 million shares of common stock under forward sale agreements for net proceeds of $39.8 million and entered into new agreements for approximately 1.8 million shares. As of June 30, 2026, total indebtedness was approximately $1.1 billion, including $1.0 billion of senior unsecured notes with a weighted average interest rate of 4.6%.

Getty Realty has raised its FY2026 Funds From Operations (FFO) guidance to a range of $2.52-$2.54, compared to the previous outlook of $2.50-$2.52. The updated guidance exceeds the analyst estimate of $2.52. This adjustment reflects the company's confidence in its operational performance for the fiscal year.

Financial Outlook

The revised guidance indicates an improvement in the company's expected financial results. The table below compares the previous and updated guidance ranges against the analyst estimate.

Company Profile

Getty Realty is a net lease real estate investment trust (REIT) focused on convenience and automotive retail real estate. The company specializes in the acquisition, financing, and development of single-tenant retail properties. As of March 31, 2026, its portfolio comprised 1,191 freestanding properties located across 45 states in the United States and Washington, D.C.