Getty Realty specializes in the acquisition, financing, and development of convenience, automotive, and other single tenant retail real estate Store Sales.
Constant discussed the state of industry fundamentals and how rising gasoline prices are impacting Getty Realty’s tenants. He noted that inside the convenience Store Sales, business has been “thriving.” In fact, according to data from the National Association of Convenience Stores (NACS), last year saw tenant sales and profits at record highs. Store trends are expected to continue, he noted.
Constant added that to date, most of the REIT’s tenants have been able to pass increased gasoline costs onto the consumer, with profitability on a per gallon pumped basis fairly similar to 2021 levels.
During the interview, Constant also discussed the pace of acquisitions in 2022, which year to date stands at about $55 million. He also pointed to three top reasons to invest in Getty Realty today.
