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Getty Realty reports 4Q results

JERICHO, N.Y. (AP) _ Getty Realty Corp. (GTY) on Wednesday reported a key measure of profitability in its fourth quarter.

The Jericho, New York-based real estate investment trust said it had funds from operations of $14.9 million, or 43 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $8.3 million, or 24 cents per share.

The real estate investment trust posted revenue of $29.7 million in the period.

For the year, the company reported funds from operations of $58 million, or $1.69 per share. Revenue was reported as $115.3 million.

Getty Realty expects full-year funds from operations in the range of $1.54 to $1.60 per share.

The company's shares have climbed slightly more than 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $26.36, a rise of 43 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GTY at https://www.zacks.com/ap/GTY


Keywords: Getty Realty, Earnings Report