At a glance
Getty Realty Corporation is worth $1.85B, about 20 times its fiscal 2025 earnings. Revenue grew 9.0% to $221.7M in fiscal 2025, with 35.7% kept as profit; over 5 years it has grown 8.5% a year. It pays a 7.11% dividend yield, raised every year for at least 9 years, and returned $444.9M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +4.5% over the past year with dividends reinvested and +2.5% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 46.8% in the 2020 crash (S&P 500: 33.7%) and 20.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 13 months and 6 months after the lows.
The business in plain English
Getty Realty is a real estate investment trust (REIT), a company that owns property and must pay out at least 90% of its taxable income to shareholders each year. It acquires, finances and develops standalone retail sites built around the car: convenience stores, express tunnel car washes, auto service centers (oil change, tire, repair and collision shops) and drive-thru fast-food restaurants. As of December 31, 2025, it had 1,174 properties in 44 states and Washington, D.C., managed by 31 employees in New York.
Getty makes money by collecting rent. Almost all of its sites are on triple-net leases, which means the tenant pays property taxes, insurance, repairs and upkeep. Most tenants are convenience store operators, fuel distributors, car wash operators and other auto-related businesses. Leases usually start at 15 or 20 years with scheduled rent increases. The average remaining term was 9.9 years as of December 31, 2025. Getty grows mainly through sale-leasebacks: it acquires a site from an operator and leases it straight back to them.
The 10-K does not split revenue by property type or region. Revenue was $221.7 million in fiscal 2025, up 9% from fiscal 2024. That year Getty invested about $273.0 million, adding 28 drive-thru restaurants, 24 convenience stores, 15 auto service centers and nine car washes. It also sold 13 properties for $18.3 million.
Price history
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GTY +4.5% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $63.0M, up 13.3% from a year earlier, and net income was $25.6M (+9.7%).
- For fiscal 2025, revenue was $221.7M (+9.0% year over year; +8.5% a year from FY2020 to FY2025) with a 35.7% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +8.5% good |
|---|---|
| Operating margin | 57.2% good |
| Free cash flow margin | 57.3% good |
| Return on equity (FY2025) | 7.4% weak |
| Return on assets (FY2025) | 3.6% watch |
| Net cash (cash minus debt) | $-1.19B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $147.3M | $69.4M | $82.5M |
| FY2021 | $155.4M | $62.9M | $86.5M |
| FY2022 | $165.6M | $90.0M | — |
| FY2023 | $185.8M | $60.2M | $105.0M |
| FY2024 | $203.4M | $71.1M | $129.6M |
| FY2025 | $221.7M | $79.2M | $127.0M |
Valuation snapshot
| Market value | $1.85B |
|---|---|
| P/E ratio | 20.4 |
| Dividend yield | 7.11% |
Rank among 1514 US companies
Market value at each year end
Getty Realty’s market value went from $865.1M at the end of 2016 to $1.85B on Oct 28, 2026, about 2.1 times as much; since the end of 2025 it is up 17%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $1.85B | +17.0% |
| 2025 | $1.58B | -4.7% |
| 2024 | $1.66B | +7.6% |
| 2023 | $1.54B | -2.7% |
| 2022 | $1.58B | +8.7% |
| 2021 | $1.46B | +23.4% |
| 2020 | $1.18B | -13.0% |
| 2019 | $1.35B | +13.6% |
| 2018 | $1.19B | +10.8% |
| 2017 | $1.08B | +24.4% |
| 2016 | $865.1M |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| GTY price data to Oct 28, 2026 | +5.5% | +4.5% | +8.3% | +2.5% | +7.8% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +5.5% |
| 2025 | -2.9% |
| 2024 | +9.8% |
| 2023 | -8.7% |
| 2022 | +11.7% |
| 2021 | +22.8% |
| 2020 | -11.2% |
| 2019 | +16.8% |
| 2018 | +13.6% |
| 2017 | +11.4% |
| 2016 | +55.7% |
| 2015 | +0.7% |
| 2014 | +4.4% |
| 2013 | +6.2% |
| 2012 | +32.3% |
| 2011 | -51.9% |
| 2010 | +43.1% |
| 2009 | +22.7% |
| 2008 | -12.5% |
| 2007 | -7.6% |
| 2006 | +25.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 46.5% over that stretch · deepest drop along the way 49.2%, back to its old high 14.4 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 44.2% over that stretch · deepest drop along the way 46.8%, back to its old high 12.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 11% over that stretch · deepest drop along the way 20.8%, back to its old high 5.6 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (17 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 16% | Mar 31, 2025 |
| Vanguard Portfolio Management | 9.57% | Mar 31, 2026 |
| Vanguard Capital Management | 5.2% | Mar 31, 2026 |
| Howard B. Safenowitz | 3.9% | Dec 31, 2025 |
ETFs with the most weight in GTY
| NETL NETLease Corporate Real Estate ETF | 3.97% |
| KBWY Invesco KBW Premium Yield Equity REIT ETF | 2.83% |
| RDOG ALPS REIT Dividend Dogs ETF | 2.25% |
| XSLV Invesco S&P SmallCap Low Volatility ETF | 1.07% |
| SIXS ETC 6 Meridian Small Cap Equity ETF | 1.07% |
| HSMV First Trust Horizon Managed Volatility Small/Mid ETF | 0.55% |
| SMLV SPDR SSGA US Small Cap Low Volatility Index ETF | 0.46% |
| PSCF Invesco S&P SmallCap Financials ETF | 0.44% |
What could go wrong
- Many tenants rely on the same industries. Most properties are leased to convenience store, fuel, car wash and auto service businesses. A slump in those trades, or changes in driving habits, could hurt many tenants at once.
- Environmental cleanup costs and lawsuits. Environmental laws can make Getty pay for cleanups. Tenants handle most contamination, but Getty holds reserves for pollution known when leases began, and those costs could rise. Getty also faces pending lawsuits.
- Tenant finances are hard to judge. Many tenants have no credit rating and publish no financials, so investors can't easily judge them. Most properties sit under master leases covering several sites, so one tenant's trouble could hit many properties.
- Properties clustered in certain states. A material share of Getty's properties is concentrated in certain states, even though it has sites in 44 states and Washington, D.C. A downturn in those regions could hit results harder.
- Growth depends on new debt and shares. Getty pays for new properties by borrowing and issuing new stock. If that money becomes costly or scarce, growth could stall. Shares outstanding rose about 48% from October 2021 to October 2026, diluting owners.
- Higher interest rates raise borrowing costs. Getty had about $1.19 billion of debt and $8.8 million of cash as of September 30, 2026. If interest rates rise, new and refinanced debt costs more, leaving less cash for dividends.
Recent events
- Investor presentation or announcement
- Quarterly results released
- Major agreement signed; New debt or financial obligation; Investor presentation or announcement
- Major agreement signed; Investor presentation or announcement
- Executive or board change
- Investor presentation or announcement
- Quarterly results released
- Shareholder vote results
- Investor presentation or announcement
- Quarterly results released
For income and retirement investors
Getty has raised its dividend for at least nine straight years through fiscal 2025, and the streak may be longer. The regular dividend grew from $1.50 per share in 2020 to $1.90 in 2025, about 4.8% a year, and the yield was 7.11% as of October 28, 2026. Dividends paid in 2025 were about 137% of net income but about 86% of free cash flow (cash left after running the business). REIT earnings look low because depreciation, a non-cash expense, is subtracted. Getty repurchased no stock from 2021 to 2025 and issued new shares instead.
The stock has fallen hard in market slumps. It dropped about 49% between February and July 2008 and got back to that high in September 2009. In the 2020 crash it fell about 47% within a month and recovered by April 2021. In 2022 it slid about 21% by May and recovered by late October. Single stocks like Getty carry more risk than diversified funds.
Questions investors ask
How does Getty Realty make money?
Getty Realty makes money mainly by collecting rent from tenants. As of December 31, 2025, it had 1,174 properties in 44 states and Washington, D.C. They include convenience stores, express tunnel car washes, auto service centers and drive-thru restaurants. Nearly all are on triple-net leases, so tenants pay taxes, insurance and maintenance. Leases usually start at 15 or 20 years with scheduled rent increases. Revenue was $221.7 million and net income $79.2 million in fiscal 2025.
Does Getty Realty raise its dividend every year?
Yes. Getty has raised its dividend for at least nine straight years through fiscal 2025, and the streak may be longer. The regular dividend rose from $1.50 per share in 2020 to $1.90 in 2025, about 4.8% a year. As a REIT, Getty must pay out at least 90% of its taxable income. Still, the 10-K warns that its dividend policy could change and that its operations may not always generate enough cash.
What is Getty Realty's dividend yield?
Getty's dividend yield was 7.11% as of October 28, 2026, when its market value was about $1.85 billion. Part of that yield comes from a falling share price: the stock fell about 20% in the three months to that date. The shares traded at about 20.4 times fiscal 2025 earnings. A high yield means more income per dollar invested. It can also signal that investors see more risk, such as higher interest rates or tenant trouble.
Does Getty Realty own gas stations?
Yes, some, but its mix is broader. Many tenants are convenience store operators and petroleum distributors, and some properties are gasoline and repair stations. Getty also owns the Getty name and trademark for real estate and petroleum marketing in the US, and it lets some tenants use it. In 2025 it added 28 drive-thru restaurants, 24 convenience stores, 15 auto service centers and nine car washes. It also redevelops some older gas-and-repair sites into modern convenience stores and other retail uses.
How much debt does Getty Realty have?
Getty had about $1.19 billion of total debt and $8.8 million of cash and investments as of September 30, 2026. Shareholders' equity was about $1.28 billion and total assets about $2.57 billion. In January 2026 it issued $250.0 million of senior unsecured notes (bonds not backed by specific properties) at a fixed 5.76% rate, due in 2036. It used the money to repay its credit facility. The 10-K lists interest rates and access to outside capital among its risk factors.