Business
Getty Realty: Stable Income And Quiet Execution Support This Lesser-Known REIT (NYSE:GTY)
Introduction
The REIT (XLRE) sector has been quietly outperforming, slightly outpacing the S&P (SP500), up close to 9% compared to a little over 8% for the index at the time of writing.
While REITs should be primarily viewed as long-term total return vehicles, I believe the sector could come under pressure in the near term due to long-term treasury volatility as inflation worries grow.
However, this weakness should be viewed as a buying opportunity, as many REITs still trade at attractive valuations compared to the overall market.
One REIT I believe fits that description is Getty Realty Corp. (GTY), a REIT I’ve been bullish on for some time and has quietly outperformed.
In this article, I discuss Getty Realty’s latest earnings, fundamentals, and why- despite the potential to see near-term volatility, the stock remains attractive for long-term income-focused investors.
Previous Buy Thesis
I last covered Getty Realty Corp. back in December in an article titled: A Quality REIT I Think Mr. Market May Be Mispricing.
Since then, Getty’s share price has begun catching up to their fundamentals, with them outperforming the index by a sizable margin. Shares rallied close to 18% compared to roughly 10% in the past 5 months.
During Q3 earnings, GTY saw an acceleration in investment activity. Through the first 3 quarters, investment activity of $237 million exceeded the prior year’s fiscal year total of $209 million.
Management’s strong execution to raise full-year AFFO guidance and raise the dividend 3.2% to $0.485. Still, I believed the market was mispricing them due to their portfolio tenant concentration at a forward P/AFFO multiple of just 11.73x.
Share Price Catching Up To The Fundamentals
Getty Realty Corp. reported their Q1 earnings this past April, with AFFO exceeding analysts’ estimates by a penny. This amounted to $0.63 and rose nearly 7% from the year prior. Realty Income’s (
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FDA issues highest-risk recall for Alfredo sauce sold in 41 states
Check out what’s clicking on FoxBusiness.com.
The Food and Drug Administration (FDA) has classified a recall of more than 900 cases of Alfredo sauce at its highest risk level after a supplier recalled a dry milk powder ingredient used in the product due to potential salmonella contamination.
The FDA designated the recall as a Class I event, its most serious classification, meaning there is a reasonable probability that use of or exposure to the product could cause serious adverse health consequences or death.
The recall affects 913 cases of Alfredo sauce packaged in 3-pound, 7-ounce sealed poly bags and 12 bags per case, according to an FDA enforcement report.
FORD RECALLS MORE THAN 255,000 FOCUS VEHICLES OVER ENGINE STALL RISK

Fettuccine Alfredo is prepared in a kitchen. The FDA classified a recall of more than 900 cases of Alfredo sauce as a Class I event due to potential salmonella contamination. (Getty Images / Getty Images)
According to the FDA, The Coffee Connexion Co., Inc., which is based in Lebanon, Tennessee, voluntarily initiated the recall on May 6, after a supplier recalled a dry milk powder ingredient used in the product due to potential salmonella contamination. The recall remains ongoing.
A representative for The Coffee Connexion Co. did not immediately respond to FOX Business’ request for comment.
The affected product carries UPC 0039954921963 and includes batches 046188 through 046193 with a best-by date of Jan. 12, 2028; batches 047290 through 047296 with a best-by date of Feb. 16, 2028; batches 048029 through 048034 with a best-by date of March 9, 2028; and batches 049089 through 049094 with a best-by date of April 20, 2028.
MORE THAN 17K COFFEE MAKERS RECALLED AFTER DOZENS OF REPORTED BURN INJURIES

A serving of fettuccine Alfredo is served. The recalled product was distributed in more than 40 states, according to the FDA. (iStock / iStock)
According to the FDA, the product was distributed in Alabama, Arkansas, Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin and Wyoming.
Salmonella can cause serious and sometimes fatal infections in young children, older adults and people with weakened immune systems. Healthy people infected with salmonella often experience fever, diarrhea, nausea, vomiting and abdominal pain, according to the FDA.

According to the FDA, the product was distributed in 41 states. (Brian Kaiser/Bloomberg via Getty Images, File / Getty Images)
The FDA’s enforcement report states that no press release was issued for the recall and does not indicate whether any illnesses have been reported.
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The recall was assigned FDA recall number H-0909-2026 and received its Class I classification on June 4.
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