Getty Realty: Q2 Earnings Snapshot

Audio By Carbonatix

NEW YORK (AP) — NEW YORK (AP) — Getty Realty Corp. (GTY) on Wednesday reported a key measure of profitability in its second quarter.

The real estate investment trust, based in New York, said it had funds from operations of $32.2 million, or 58 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 $16.7 million, or 30 cents per share.

The real estate investment trust, based in New York, posted revenue of $49.9 million in the period. Its adjusted revenue was $48.7 million.

Getty Realty expects full-year funds from operations in the range of $2.30 to $2.32 per share.

_____

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