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EX - 99.1 2 gty - ex991_6.htm EX - 99.1 FOR IMMEDIATE RELEASE GETTY REALTY CORP . ANNOUNCES SECOND QUARTER 2021 RESULTS - Increases 2021 Annual Guidance - NEW YORK , NY , July 28 , 2021 - Getty Realty Corp. ( NYSE : GTY ) ( " Getty " or the “ Company ” ) announced today its financial results for the quarter ended June 30 , 2021 . Second Quarter Highlights Exhibit 99.1 Net earnings of $ 0.28 per share Funds From Operations ( “ FFO " ) of $ 0.49 per share Adjusted Funds From Operations ( " AFFO " ) of $ 0.49 per share Invested an aggregate of $ 44.1 million across 53 properties " Our second quarter performance reflects the strength of our in - place portfolio , as well as the compelling growth opportunity in the convenience and automotive retail sectors , ” stated Christopher J. Constant , Getty's President & Chief Executive Officer . " During the quarter , we invested in 46 oil change centers , three car washes and four convenience stores , as well as a tire service center which closed subsequent to quarter end , bringing our year - to date investment activity to $ 79 million . The net results of this recent activity include an 11 % increase in AFFO per share for the second quarter , and an increase in our 2021 annual AFFO per share guidance . With an improving cost of capital , a strong track record of investing in freestanding properties offering essential goods and services , and attractive tailwinds in the convenience and broader automotive industries , we are confident in our platform's ability to deliver continued growth . " Net Earnings Net earnings for the three months ended June 30 , 2021 were $ 12.9 million , or $ 0.28 per share , as compared to net earnings of $ 11.0 million , or $ 0.26 per share , for the same period in 2020. Net earnings for the six months ended June 30 , 2021 were $ 30.8 million , or $ 0.68 per share , as compared to net earnings of $ 23.7 million , or $ 0.56 per share , for the same period in 2020 . Funds From Operations ( FFO ) and Adjusted Funds From Operations ( AFFO ) . FFO for the three months ended June 30 , 2021 was $ 22.0 million , or $ 0.49 per share , as compared to $ 18.6 million , or $ 0.44 per share , for the same period in 2020. FFO for the six months ended June 30 , 2021 was $ 42.0 million , or $ 0.93 per share , as compared to $ 38.6 million , or $ 0.91 per share , for the same period in 2020 . AFFO for the three months ended June 30 , 2021 was $ 22.1 million , or $ 0.49 per share , as compared to $ 18.6 million , or $ 0.44 per share , for the same period in 2020. AFFO for the six months ended June 30 , 2021 was $ 43.1 million , or $ 0.96 per share , as compared to $ 37.9 million , or $ 0.90 per share , for the same period in 2020 . All per share amounts are presented on a fully diluted per common share basis , unless stated otherwise . FFO and AFFO are " Non - GAAP Financial Measures " which are defined and reconciled to net earnings in the financial tables at the end of this release .