Getty Realty Corp. (NYSE: GTY) | Christopher Constant, Brian Dickman, Mark Olear
Getty Realty Corp. (NYSE: GTY) is the leading publicly traded real estate investment trust (βREITβ) in the United States specializingΒ ...
Executive Vice President, Chief Financial Officer & Treasurer, Getty Realty
Search every verified Brian Dickman interview, podcast appearance, and on-the-record quote β each transcript cross-checked by AI and human review to confirm speaker identity. Brian Dickman, Executive Vice President, Chief Financial Officer and Treasurer at Getty Realty, participated in a September 2021 presentation where he discussed the company's financial position. He stated that Getty Realty has an investment grade credit rating from Fitch, received in 2018, and described the company's liquidity, access to capital, and leverage and coverage ratios as strong. Dickman said the company's long-term fixed rate unsecured debt aligns well with its asset base and income streams, and that the balance sheet is positioned to support growth strategies. During the same presentation, Dickman addressed the potential impact of electric vehicles on the company's tenants. He said that convenience stores are increasingly offering made-to-order or more sophisticated food operations, which he stated would drive additional profitability and offset any potential long-term decline in fuel income due to electric vehicles. Dickman also noted that when Getty Realty acquires new assets, many have a branded quick service restaurant inside or adjacent to the store, or tenants may create private label fast food businesses, which he described as helpful for the company's business and its tenants.
“We currently have an investment grade credit rating from Fitch, which we received in 2018, and generally speaking it's something we take a lot of pride in having achieved and maintaining that rating. Our liquidity and access to capital are strong, and our key leverage and coverage ratios are strong. The long term fixed...”
“As a net lease landlord, we have limited control over our properties, but through lease requirements for tenants, insurance policies, and our own environmental programs, we believe we are appropriately protecting our assets and the environment. We continue to evolve our policies related to social responsibility and are...”
“Getty Realty is a net lease REIT specializing in convenience, automotive, and other single tenant retail real estate. We focus on growing and enhancing this portfolio of essential use assets. We want to be a growth company that owns stable, defensive assets in our target retail sectors characterized by durable rental i...”
“Our portfolio spans roughly 35 states with 65 percent of our rent coming from the top 50 MSAs in the US. We have grown our presence across several high growth markets in the southern half of the US, which was a key initiative when I became involved a little more than five years ago. The growth has focused largely on fi...”
“The convenience and automotive sectors have proven to be quite resilient across economic cycles and in fact grew last year in 2020 despite the government restrictions. Our tenants' businesses and properties are essential and have consistently met the day-to-day needs of the retail consumer.”
“We spend a lot of time thinking about the shift to electric vehicles and talk to our tenants regularly. Over the last decade, there has been a steady evolution inside the business preparing for any lost income from fuel operations. Convenience stores are increasingly offering made-to-order or more sophisticated food op...”
“When we look at new assets to acquire, many either have a branded quick service restaurant inside the store or adjacent to the store, which becomes one of our tenants. Alternatively, tenants may create private label fast food businesses inside their stores. These arrangements are helpful for our business and for the bu...”
“Our investment thesis for convenience and automotive retail real estate is that these are essential businesses which are both e-commerce and recession resistant, meeting evolving consumer demand for convenience, service, and speed across varied geographies and demographics. We place significant weight on real estate fu...”
“Our typical lease terms require that all occupancy expenses in excess of base rent are the responsibility of tenants, with leases containing annual rent escalators and site-level reporting, which gives us great visibility into the performance of the operating businesses. Our tenant rent coverage ratio is a healthy 2.6...”
Getty Realty Corp. (NYSE: GTY) is the leading publicly traded real estate investment trust (βREITβ) in the United States specializingΒ ...
CEO Christopher Constant sees growing popularity of stand-alone, quick-serve restaurants. To learn more about Getty Realty,Β ...
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