Getty Realty (NYSE: GTY) owns the corners America drives past every day: convenience stores, gas stations, car washes, auto service centers, and drive-thrus, concentrated in dense metro markets where the land under the building is often worth as much as the lease on top of it. It is the purest play on automotive-and-convenience real estate in the public market.
| Getty Realty (GTY) Snapshot | |
|---|---|
| Share Price (delayed) | $34.37 +0.29% |
| Market Cap | $2.1B |
| Annualized Dividend | $1.93 (Quarterly) |
| Dividend Yield | 5.60% |
| Sector | Net Lease ยท Convenience & Auto Net Lease |
Market data updates automatically several times daily. Last price refresh: Jul 12, 2026.
Portfolio and Business Model
Getty’s roughly 1,100 properties skew toward infill, high-traffic corners in major metros, legacy of its origins as an oil-company real estate arm, with tenants like ARKO/GPM, Couche-Tard brands, and major car wash and auto service operators. The weighted average lease term runs about 9.9 years with leverage near 4.8x EBITDAre, middle of the peer pack. The quiet asset: irreplaceable corner locations with redevelopment optionality (EV charging, drive-thru QSR conversions) that most net lease portfolios lack.
Dividend Safety Analysis
Getty has raised its dividend annually for over a decade, with coverage in the low-80s percent of AFFO and consensus 2026 AFFO growth around 3.4%. This is a steady-eddy income profile: mid-single-digit total return math driven by a yield meaningfully above the large-cap peers, priced at one of the group’s lower multiples (about 12.7x forward AFFO).
The Honest Risk Section
Concentration and secular questions. Top-ten tenants are 61% of rent, second highest in the group, and the convenience-and-gas category carries a long-dated EV overhang: fuel margins fund many of these tenants, and the market prices that uncertainty into Getty’s multiple. Environmental legacy (petroleum sites) is professionally managed but is a real diligence layer peers don’t carry. Small scale (~$2 billion market cap) also means lumpier access to capital.
Peer Context
Getty is what Agree Realty would look like if it went all-in on one sector: similar necessity-retail philosophy, radically less diversification, higher yield. Convenience and auto service are also the single most transacted tenant categories in direct NNN investing, with 7-Eleven at the credit summit; the tenant credit ratings database maps that landscape.
Frequently Asked Questions
What does Getty Realty own?
Roughly 1,100 convenience stores, gas stations, car washes, auto service centers, and drive-thru properties, concentrated in dense metropolitan corridors, with about a 9.9-year average lease term.
Does the EV transition threaten Getty Realty?
It is the sector’s long-term question. Offsets: convenience (not fuel) drives tenant profitability at modern c-stores, leases run a decade, and Getty’s infill corners have redevelopment value for EV charging and drive-thru uses. The market prices the uncertainty via a below-peer multiple.
Is Getty Realty investment grade?
Yes, Getty carries an investment-grade (BBB- range) rating with leverage around 4.8x EBITDAre, comfortably financed for its size.
Analysis based on Q1 2026 peer supplemental data and company disclosures. Live market data updates automatically. Independent research, not investment advice.
Why buy the REIT when you can own the asset?
Net lease REITs typically yield 4.5% to 6.5%. Direct ownership of a single-tenant NNN property leased to the same investment-grade tenants historically trades at 6% to 7.5% cap rates, plus depreciation benefits and 1031 exchange eligibility that REIT shareholders never receive.
Compare Direct NNN Ownership