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News Breaks | | | | February 28, 2013 | | 16:55 EDT |  | GTY | Getty Realty sees FY13 adjusted FFO 82c-90c, consensus $1.36
Historically, the company has not issued guidance and does not intend to establish a policy of doing so in the future. However, the company has elected to provide guidance for the year ended December 31, 2013 since its historical financial results have been significantly impacted by the events of the past year and the ongoing repositioning of the marketing portfolio which makes the company's current results inconsistent with the company's historical performance. The ongoing repositioning of the marketing portfolio and other factors are expected to disproportionately negatively impact the company's results during the first two quarters of FY13. | |
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| May 13, 2013 | | 08:10 EDT |  | GTY | Getty Realty acquires 36 properties for $72.5M
Getty Realty announced that it has acquired 36 properties located in the metro New York and Washington, D.C. Beltway regions for approximately $72.5M in two sale/leaseback transactions with Capitol Petroleum Group. The 36 properties were acquired by Getty from, and simultaneously leased back to, subsidiaries of Capitol in two sale/leaseback transactions under long-term triple-net unitary leases having initial terms of 15 years plus three renewal options. The company expects to receive approximately $6.1M of annualized revenue from the investment. In addition, the acquisition utilized a significant amount of accumulated proceeds from the company’s prior property dispositions through 1031 exchanges enabling the company to defer taxable gains on many of its 2013 property dispositions, Getty Realty said. | |
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