Getty Realty Corp
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Getty Realty is a real estate investment trust that specializes in the ownership and leasing of service stations, convenience stores and petroleum distribution terminals. It's based in Jericho New York. They own or lease over 1,100 service stations and convenience stores, and nine petroleum distribution terminals, in twenty states.
Its New York Stock Exchange ticker symbol is GTY. They also provide financing for acquisitions, site upgrades, and refinancing through sale/leaseback and net lease financing programs in the service station and convenience store industries.
Getty Realty goes back to the ownership of a single service station in New York City in 1955, and became a wholesale and retail marketer and owner of gas stations. They had their initial public offering (IPO) in 1971 under the name of Power Test Corp. In 1997 they spun off the petroleum marketing business onto the New York Stock Exchange under the name Getty Petroleum Marketing, Inc. This company rents out about 90% of Getty Realty's properties on a long term net basis. The other 10% are leased to individuals and petroleum distributors.
The current Chairman of the Board and Chief Executive Officer is Leo Liebowitz. There is a dividend reinvestment plan.
They have properties for lease in Connecticut, Massachusetts, New Jersey, New York, and Pennsylvania.
Therefore, Getty Realty is a real estate investment trust that meets basic needs of consumers in the Northeast United States.
Next: Kite Realty Group -- quality neighborhood and community retail shopping centers
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