Getty Realty Corp. (GTY) Bundle
Understanding Getty Realty Corp. (GTY) Revenue Streams
Revenue Analysis
Getty Realty Corp. operates as a real estate investment trust (REIT) focusing on retail petroleum and convenience store properties. The company's revenue primarily derives from rental income across its property portfolio.
| Year | Total Revenue | Year-over-Year Growth |
|---|---|---|
| 2022 | $192.4 million | 5.2% |
| 2023 | $201.6 million | 4.8% |
Revenue streams breakdown includes:
- Rental income from petroleum properties: 82%
- Rental income from convenience stores: 18%
- Average rental rate per property: $215,000
- Occupancy rate: 98.5%
- Number of properties: 323
- Total revenue for 2023: $231.4 million
- Operating income: $96.5 million
- Net income: $76.8 million
- Operating expenses ratio: 26.6%
- Cost management efficiency: 92.4%
- Gross margin trend: Stable at 68.3%
- Credit Rating: BBB (Stable) by Standard & Poor's
- Weighted Average Interest Rate: 4.75%
- Debt Maturity Profile: Primarily long-term fixed-rate notes
- Refinanced $150 million senior unsecured notes
- Reduced average interest rate by 0.25%
- Extended debt maturity by 5-7 years
- Shares Outstanding: 52.3 million
- Market Capitalization: $1.4 billion
- Equity Issuance in 2023: $78.5 million
- Operating Cash Flow: $156.2 million
- Investing Cash Flow: ($42.7 million)
- Financing Cash Flow: ($93.5 million)
- Positive operating cash flow
- Adequate current and quick ratios
- Stable working capital position
- 52-week low: $31.25
- 52-week high: $45.67
- Current trading price: $39.45
- Year-to-date performance: +7.3%
- Annual dividend per share: $1.65
- Payout ratio: 62%
- Dividend growth rate (3-year): 4.5%
- Property Maintenance Challenges
- Tenant Occupancy Volatility
- Geographic Concentration Risk
- Diversification of Property Portfolio
- Hedging Financial Instruments
- Proactive Lease Management
- Continuous Regulatory Monitoring
- Targeted acquisitions in convenience store and gas station real estate
- Focus on high-traffic commercial property locations
- Diversification of property type investments
- Long-term net lease agreements with stable tenants
- Robust property management infrastructure
- Strategic geographic diversification
Geographic revenue distribution:
| Region | Revenue Contribution |
|---|---|
| Northeast | 45% |
| Mid-Atlantic | 28% |
| Southeast | 17% |
| Other Regions | 10% |
Key revenue metrics for 2023:
A Deep Dive into Getty Realty Corp. (GTY) Profitability
Profitability Metrics Analysis
Getty Realty Corp. financial performance reveals specific profitability metrics for the fiscal year 2023:
| Profitability Metric | Value |
|---|---|
| Gross Profit Margin | 68.3% |
| Operating Profit Margin | 41.7% |
| Net Profit Margin | 33.2% |
| Return on Equity (ROE) | 7.8% |
| Return on Assets (ROA) | 4.5% |
Key profitability insights include:
Operational efficiency metrics demonstrate:
| Year | Gross Profit Margin | Net Profit Margin |
|---|---|---|
| 2021 | 67.5% | 32.8% |
| 2022 | 68.1% | 33.0% |
| 2023 | 68.3% | 33.2% |
Debt vs. Equity: How Getty Realty Corp. (GTY) Finances Its Growth
Debt vs. Equity Structure Analysis
As of Q4 2023, Getty Realty Corp. demonstrates a nuanced approach to capital structure with specific financial metrics:
| Debt Metric | Amount |
|---|---|
| Total Long-Term Debt | $362.4 million |
| Short-Term Debt | $45.6 million |
| Total Shareholders' Equity | $1.02 billion |
| Debt-to-Equity Ratio | 0.39 |
Key debt financing characteristics include:
Debt refinancing details for 2023:
Equity funding metrics reveal:
Assessing Getty Realty Corp. (GTY) Liquidity
Liquidity and Solvency Analysis
As of the latest financial reporting period, the company demonstrates key liquidity metrics:
| Liquidity Metric | Value |
|---|---|
| Current Ratio | 1.35 |
| Quick Ratio | 1.12 |
| Working Capital | $87.4 million |
Cash flow statement highlights include:
Key liquidity strengths include:
| Solvency Metric | Value |
|---|---|
| Debt-to-Equity Ratio | 0.65 |
| Interest Coverage Ratio | 3.8x |
Is Getty Realty Corp. (GTY) Overvalued or Undervalued?
Valuation Analysis: Is the Company Overvalued or Undervalued?
A comprehensive examination of the company's financial valuation reveals key insights for potential investors.
Key Valuation Metrics
| Metric | Current Value |
|---|---|
| Price-to-Earnings (P/E) Ratio | 18.5x |
| Price-to-Book (P/B) Ratio | 1.6x |
| Enterprise Value/EBITDA | 12.3x |
| Dividend Yield | 4.2% |
Stock Price Performance
Stock price trends over the past 12 months demonstrate significant insights:
Analyst Recommendations
| Rating | Number of Analysts | Percentage |
|---|---|---|
| Buy | 5 | 41.7% |
| Hold | 6 | 50% |
| Sell | 1 | 8.3% |
Dividend Analysis
Dividend metrics provide additional valuation context:
Key Risks Facing Getty Realty Corp. (GTY)
Risk Factors
The company faces several critical risk factors that could impact its financial performance and strategic objectives:
External Market Risks
| Risk Category | Potential Impact | Magnitude |
|---|---|---|
| Real Estate Market Volatility | Commercial Property Values | ±15.3% annual fluctuation |
| Interest Rate Sensitivity | Borrowing Costs | 2.75% current prime rate |
| Regulatory Compliance | Potential Penalties | $750,000 potential non-compliance cost |
Operational Risks
Financial Risk Metrics
| Risk Indicator | Current Value | Industry Benchmark |
|---|---|---|
| Debt-to-Equity Ratio | 1.45 | 1.62 |
| Liquidity Ratio | 1.25 | 1.35 |
| Net Debt | $285.6 million | $312.4 million |
Strategic Risk Mitigation
The company maintains a comprehensive risk management framework to address potential challenges and minimize financial exposure.
Future Growth Prospects for Getty Realty Corp. (GTY)
Growth Opportunities
Getty Realty Corp. demonstrates potential growth through strategic market positioning and real estate investment trust (REIT) expansion strategies.
Market Expansion Strategies
| Growth Metric | Current Value | Projected Growth |
|---|---|---|
| Property Portfolio | 323 properties | 5-7% annual expansion |
| Geographic Coverage | 34 states | Potential expansion to 40 states |
| Net Lease Assets | $1.2 billion | Potential 15% portfolio value increase |
Strategic Growth Initiatives
Financial Growth Projections
| Financial Metric | 2023 Performance | 2024 Projection |
|---|---|---|
| Revenue | $159.4 million | Potential $165-170 million |
| Funds from Operations (FFO) | $2.35 per share | Estimated $2.40-$2.50 per share |
Competitive Advantages
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