Getty Realty Corp. Earnings Cheat Sheet: FFO Rose 28%

Getty Realty Corp. (NYSE:GTY) reported results for the third quarter. Getty Realty is a real estate investment trust in the United States specializing in the ownership and leasing of retail motor fuel and convenience store properties and petroleum distribution terminals.

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Getty Realty Corp Earnings Cheat Sheet for the Third Quarter

Results: Adjusted Funds from Operations (FFO) rose 28% to $19.7 million or 59 cents a share. A year ago, adjusted FFO was $15.4 million or 52 cents a share. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings.

Revenue: Rose 27.6% to $28.1 million from the year earlier quarter.

Actual vs. Wall St. Expectations: GTY fell short of the mean analyst estimate of 60 cents per share. Analysts were expecting revenue of $27.6 million.

Looking Forward: Expectations for the company’s next quarter performance are higher than they were ninety days ago. Over the past three months, the average estimate for the fourth quarter has risen to 61 cents per share from 56 cents. At $2.13 per share, the average estimate for the fiscal year has fallen from $2.17 ninety days ago.

Competitors to Watch: Alexander’s, Inc. (NYSE:ALX), Federal Realty Inv. Trust (NYSE:FRT), American Assets Trust, Inc (NYSE:AAT), Realty Income Corp (NYSE:O), Weingarten Realty Investors (NYSE:WRI), Kite Realty Group Trust (NYSE:KRG), Agree Realty Corporation (NYSE:ADC), Acadia Realty Trust (NYSE:AKR), Cedar Shopping Centers Inc (NYSE:CDR), and Regency Centers Corp. (NYSE:REG).

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(Source: Xignite Financials)