Getty Realty Corp /Md/ (NYSE: GTY)

Getty Realty Corp., a Maryland-based corporation known by its stock symbol GTY, operates in the real estate investment trust (REIT) industry, focusing on the acquisition, financing, and development of convenience, automotive, and other single-tenant retail properties. Its operations span across 40 states and Washington D.C., with a significant presence in the Northeast and Mid-Atlantic regions.

The company's primary business activities involve the ownership and leasing of properties such as convenience stores, express tunnel car washes, automotive service centers, and other freestanding retail properties. Convenience stores, often located at high-traffic urban intersections or near highways, offer a variety of products and services, including food, beverages, and fuel. Express tunnel car washes, designed for quick and convenient customer use, are typically situated near highways and operate 24/7. Automotive service centers provide a range of services, from gasoline and repair to oil and maintenance, tire and battery services, and collision repair. Other freestanding retail properties include drive-thru quick service restaurants, automotive parts retailers, and bank branches.

Getty Realty's competitive position within the industry is bolstered by its focus on convenience and automotive retail properties. The company's ability to redevelop properties for less environmentally sensitive uses and its commitment to sustainability and environmental responsibility further distinguish it from its competitors. Major investors, including publicly-traded and non-traded REITs, public and private investment funds, petroleum manufacturing, distributing and marketing companies, and other institutional and individual investors, compete for attractive acquisition opportunities in this industry.

Getty Realty's customers include convenience store operators, petroleum distributors, express tunnel car wash operators, and other automotive-related and retail tenants. These tenants are responsible for the payment of all taxes, maintenance, repairs, insurance, and other operating expenses relating to the company's properties.

The company's revenue generation is primarily driven by the lease of its properties. As of December 31, 2023, Getty Realty owned 1,056 properties and leased 37 from third-party landlords, making for a total portfolio of 1,093 properties.

Among the brand names and trade names of its products and services are convenience stores, express tunnel car washes, automotive service centers, and other freestanding retail properties. These offerings are designed to cater to the needs of a diverse customer base seeking convenience, automotive services, and retail options.

Getty Realty's commitment to its employees is noteworthy. As of December 31, 2023, the company had 32 full-time employees, all located in its New York office. The company prioritizes empathy and flexibility to support the safety, health, and security of each member of its team, reflecting a strong commitment to its workforce.