Interactive Brokers shares jump as it secures spot in S&P 500
In a recent shareholder meeting, Getty Realty Corp (NYSE:GTY), a $1.52 billion market cap REIT with impressive gross profit margins of 93%, confirmed the re-election of its board members and endorsed the compensation package for its named executive officers. The annual gathering, held on Tuesday, also saw the ratification of PricewaterhouseCoopers LLP as the company’s independent auditor for the current fiscal year.
During the voting on April 22, shareholders cast their ballots in favor of all six director nominees, ensuring their service on the board until the next annual meeting. Christopher J. Constant received the highest number of votes for, with 43,978,306, while Mary Lou Malanoski had the most votes withheld at 4,923,037.
The advisory vote on executive compensation, commonly referred to as "Say-on-Pay," resulted in a majority approval, with 42,866,791 votes in favor. The proposal saw 1,757,487 votes against and 200,589 abstentions. This strong shareholder support comes as the company maintains its 31-year streak of consistent dividend payments, currently yielding 6.59%. According to InvestingPro, Getty Realty has raised its dividend for 8 consecutive years, demonstrating strong commitment to shareholder returns. The vote on this matter is non-binding and serves as a gauge of investor sentiment regarding the company’s executive pay practices.
Furthermore, the appointment of PricewaterhouseCoopers LLP as Getty Realty’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified with a significant majority. The proposal received 48,217,302 votes for and 637,906 against, with 26,108 abstentions.
The approval of these proposals indicates shareholder confidence in the company’s governance and financial oversight. The results of the voting are based on a press release statement and reflect the collective decision of Getty Realty’s investors at the annual meeting. The company, a real estate investment trust specializing in the ownership, leasing, and financing of convenience store and gasoline station properties, is incorporated in Maryland and headquartered in New York. InvestingPro analysis shows Getty Realty maintains strong financial health with a current ratio of 1.96, indicating solid liquidity. For detailed insights and additional ProTips about Getty Realty’s performance and valuation, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Getty Realty Corporation reported its first-quarter 2025 earnings, which did not meet analyst expectations for earnings per share (EPS) but slightly surpassed revenue forecasts. The company posted an EPS of $0.25, falling short of the projected $0.3202, while revenue reached $50.6 million, just above the anticipated $50.46 million. Notably, the company’s Annualized Base Rent (ABR) increased by 11.2%, indicating steady operational performance. Getty Realty also maintained a high occupancy rate of 99.7%, demonstrating stability in its portfolio. The company reaffirmed its AFFO per share guidance for the full year, projecting a range of $2.38 to $2.41. Additionally, Getty Realty has a $110 million investment pipeline, with significant allocations to auto service and development funding. Despite the earnings miss, the company continues to focus on strategic investments and managing macroeconomic challenges. Management has expressed confidence in the resilience of its tenant businesses, which are described as largely recession-resistant.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.