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Getty Realty Q3 FFO Declines

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Getty Realty Corp. (GTY) reported a net loss for the third quarter of $3.5 million or $0.10 per share, compared to net income of $5.4 million or $0.16 per share for the year-ago quarter.

Income from continuing operations for the third quarter was $1.5 million or $0.05 per share, compared to $2.8 million or $0.08 per share a year earlier.

Funds from operations for the third quarter was $6.9 million or $0.21 per share, compared to $8.5 million or $0.25 per share in the prior year quarter.

Adjusted funds from operations for the third quarter was $5.4 million or $0.16 per share, compared to $19.7 million or $0.59 per share in the third quarter of last year.

Total revenue for the third quarter fell to $23.11 million from $25.71 million a year ago.

Analysts polled by Thomson Reuters expected the company to report FFO of $0.36 per share on revenue of $28.23 million for the third quarter. Analysts' estimates typically exclude special items.

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