Getty Realty: Consistent Growth At A Cheap Multiple
Getty Realty (GTY) Seeking Alpha·2024-06-21 03:52
1 198 - i 1181 jax10289 Getty Realty's (NYSE:GTY) fundamentals and market price have diverged. Specifically, its AFFO/share has consistently grown at a healthy pace while its market price has fallen. Consequently, the stock has moved from fair value to materially undervalued. As it stands today, Getty is trading at an 8.3% implied cap rate and 11.5X AFFO multiple while having a clear runway of steady earnings growth. I believe the AFFO multiple substantially undervalues the company's reliability and growth, ...