Company: GTY
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0001140361-25-008521
Chunk: 45

Company: GETTY REALTY CORP /MD/
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 45
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 31, 2024, the Company declared $102.0 million of dividends, or $1.82 per share, as compared to $91.3 million of dividends, or $1.74 per share, in the prior year, representing an increase of approximately 4.6% on a per share basis. |

| ■ | Investment Activity.During the year ended December 31, 2024, the Company invested $209.0 million in convenience and automotive retail properties, including the acquisition of 31 express tunnel car washes, 19 automotive service centers, 17 convenience stores, and four drive-thru quick service restaurants. As a result of this investment activity, the Company added eight new tenants, expanded our relationships with several existing tenants and entered or increased exposure to a number of high-growth metropolitan areas. |

| ■ | Redevelopment Program.In 2024, the Company continued to execute on our redevelopment program, which seeks to unlock embedded value within our existing net lease portfolio by taking certain undervalued legacy gasoline and repair station properties and redeveloping them into either a new convenience store or an alternative single-tenant net-lease retail use. In 2024, we completed a redevelopment project on one of our properties by completing the construction of a new fast casual restaurant. Our current redevelopment program pipeline includes four projects with estimated completions scheduled during 2025 through 2027. |

| 40 |     | GETTY REALTY2025 Proxy Statement |

TABLE OF CONTENTS

Executive Compensation ( continued )

| ■ | Asset Management.The Company continued its portfolio management and optimization objectives during the year, including by: |

| ■ | Selling 31 properties (generating $13.1 million of gross proceeds); |

| ■ | Concluding 2024 with effectively full portfolio occupancy of 99.7%; |

| ■ | Achieving virtually 100% rent collection for our occupied portfolio; and |

| ■ | Reducing the Company’s reported environmental liability by $1.4 million during 2024. |

| ■ | Capital Market Activities.The Company was active in the capital markets in 2024, raising more than $289.8 million of new debt and equity capital, including by: |

| ■ | Conducting an underwritten public offering to sell 4.0 million shares of common stock on a forward basis, realizing gross proceeds of $121.2 million; |

| ■ | Entering into forward sale agreements to sell an aggregate of 1.4 million shares of common