Getty Realty Corp., a net lease Real Estate Investment Trust (REIT) that is focused on convenience and automotive retail real estate, announced the pricing of an underwritten public offering of 4,000,000 shares of its common stock on February 17, 2026, for gross proceeds of approximately $131 million. The offering includes a 30-day option for underwriters to purchase up to an additional 600,000 shares, potentially increasing the total issuance to 4,600,000 shares. The offering is expected to close on February 19, 2026, subject to customary closing conditions.
Forward Sale Agreement and Stock Offerings
The shares are being sold on a forward basis through forward sale agreements with J.P. Morgan Securities LLC and Wells Fargo Securities, acting as book-running managers. Under the forward sale agreements, Getty Realty will not receive the proceeds immediately from the share sales. Getty Realty is expecting to physically settle the agreements and receive the proceeds within approximately one year. The company plans to use the net proceeds to fund property acquisitions, repay debt under its revolving credit facility, and for working capital and general corporate purposes. According to the press release of the company’s statement, the offering is being made pursuant to an automatic shelf registration statement filed with the Securities and Exchange Commission (SEC) that became effective on January 5, 2026.
Getty Realty Corporation’s fourth-quarter 2025 earnings report surpassed analyst expectations. The company achieved an earnings per share (EPS) of $0.45, which was higher than the projected $0.344, representing a surprise of 30.81%. Revenue for the quarter also exceeded its expectations, coming in at $59.14 million compared to the anticipated $54.82 million, marking a 7.88% increase. As of February 11, 2026, the firm had a committed investment pipeline of approximately $100 million for the development or acquisition of 36 properties. The proceeds from Getty Realty Corp.’s February 2026 stock offering provided funds for the acquisition and development of convenience stores, automotive retail properties, drive-thru quick service restaurants, and auto service centers.
The offerings will benefit investors by strengthening the company’s financial position, which supports its consistent dividend growth and long-term stability. Getty has raised its dividend for 12 consecutive years, and the capital raised reinforces its ability to maintain and grow its high-yield payout of ~6.3%. The offerings will also provide investment opportunities, thereby improving long-term returns for shareholders. Overall, the offerings will support shareholders’ value through portfolio growth, financial strength, and sustained income distribution.
About Getty Realty Corp. (NYSE: GTY)
The firm is headquartered in New York, NY, and it operates with a lean team of approximately 30 employees. The firm acquires, owns, and develops single-tenant freestanding retail properties leased under long-term triple-net (NNN) leases. The tenants are responsible for the property taxes, insurance, maintenance, and repairs. Thereby, resulting in low landlord costs and predictable cash flows for Getty. The firm’s portfolio focuses on emphasizing the essential consumer services, such as convenience stores and gas stations, express tunnel car washes, automotive service centers, quick-service restaurants, and automotive parts retailers.
