When you stop to fill up your car with gas, you might also pop into the store to grab a quick bite, or a gatorade, or that carton of milk you forgot to get at the supermarket. One company has managed to leverage that common retail experience into a real-estate empire.
Chris Constant is the president and Chief Executive Officer of Getty Realty Corp, which trades under the symbol GTY on the New York Stock Exchange. Chris joined the company in November of 2010 as Director of Planning and Corporate Development, and was later promoted to treasurer in May of 2012, Vice President in May of 2013, CFO also in 2013 and CEO in 2016.
Today, Chris walks us through the surprising origins of Getty Realty, discusses developments in the convenience store and automotive sectors, and explains why Getty has found such incredible success working with those industries.
Highlights:
- Getty Realty origins (4:50)
- What's a 'Net Lease REIT?' (7:07)
- Why C-stores and Auto-service? (8:00)
- How convenience stores have changed (9:48)
- Getty's advantage in the market (11:25)
- Sourcing new assets (12:48)
- Occupancy and rent (15:07)
- Potential for growth in other sectors (16:40)
- Uncertain macro environment (18:13)
- Impact of EVs (20:25)
- Dividends (21:49)
- What people miss about Getty (23:32)
Links:
Feedback:
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer,
marion@lowerstreet.co.
What is Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders?
In the increasingly crowded and competitive corporate and financial ecosystem, it’s harder than ever for companies to break through the clutter and be heard. The media, investors, agenda-driven influencers, even customers and competitors, are defining your business story on their terms. Therefore, it is imperative that companies take control and proactively drive the conversation with stakeholders in an effort to build & maintain equity value.
In Welcome to the Arena from ICR, Co-Founder & CEO of ICR, Tom Ryan, interviews key business and financial players who influence the fate of public or aspiring public companies in the capital markets. As a former Wall Street Journal ranked sell-side equity analyst and the founder of one of the largest strategic communications firms in the world, Tom understands what it takes to navigate this complex environment.
This is a forum for CEOs, CFOs, institutional investors, sell-side analysts, financial journalists, private equity professionals and other financial community participants to share their stories and give advice in an open and candid conversation.
For more information, visit http://www.icrinc.com