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EX - 99.1 2 gty - ex991_6.htm EX - 99.1 FOR IMMEDIATE RELEASE GETTY REALTY CORP . ANNOUNCES THIRD QUARTER 2021 RESULTS - Increases 2021 Annual Guidance - NEW YORK , NY , October 27 , 2021 Getty Realty Corp. ( NYSE : GTY ) ( “ Getty ” or the " Company " ) announced today its financial results for the quarter ended September 30 , 2021 . Third Quarter Highlights ● ● Exhibit 99.1 Net earnings of $ 0.30 per share Funds From Operations ( " FFO " ) of $ 0.48 per share Adjusted Funds From Operations ( " AFFO " ) of $ 0.50 per share Invested an aggregate of $ 61.1 million across 25 properties " With approximately $ 145 million of investments completed year to date , including more than $ 60 million in the third quarter , we continue to grow and diversify our portfolio across geographies , tenants and retail subsectors , ” stated Christopher J. Constant , Getty's President & Chief Executive Officer . “ Our focus on convenience and automotive retail real estate , occupied by national and regional tenants operating multi - store platforms , continues to provide Getty with durable income streams and incremental investment opportunities . We also continue to execute on our redevelopment strategy , with rent commencing on three projects during the quarter , each of which provided attractive incremental yields . As we look ahead , we maintain a robust investment pipeline , ample access to capital , and a strong balance sheet that will continue to support our ongoing growth initiatives . " Net Earnings Net earnings for the three months ended September 30 , 2021 were $ 14.0 million , or $ 0.30 per share , as compared to net earnings of $ 11.9 million , or $ 0.27 per share , for the same period in 2020. Net earnings for the nine months ended September 30 , 2021 were $ 44.8 million , or $ 0.98 per share , as compared to net earnings of $ 35.6 million , or $ 0.83 per share , for the same period in 2020 . Funds From Operations ( FFO ) and Adjusted Funds From Operations ( AFFO ) FFO for the three months ended September 30 , 2021 was $ 22.0 million , or $ 0.48 per share , as compared to $ 20.8 million , or $ 0.48 per share , for the same period in 2020. FFO for the nine months ended September 30 , 2021 was $ 64.0 million , or $ 1.41 per share , as compared to $ 59.3 million , or $ 1.39 per share , for the same period in 2020 . AFFO for the three months ended September 30 , 2021 was $ 22.9 million , or $ 0.50 per share , as compared to $ 20.2 million , or $ 0.47 per share , for the same period in 2020. AFFO for the nine months ended September 30 , 2021 was $ 66.0 million , or $ 1.45 per share , as compared to $ 58.1 million , or $ 1.37 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 .