Chris Constant, president and CEO of Getty Realty Corp. (NYSE: GTY), sat down for a video interview during Nareit’s REITweek: 2025 Investor Conference in New York City on June 2-5.
Constant discussed the company's strategic positioning, emphasizing its focus on maintaining a strong balance sheet and diversified portfolio. “Having a balance sheet that’s conservatively leveraged is important,” Constant said, noting Getty’s net debt-to-EBITDA ratio sits squarely in the company’s target range of 4.5 to 5.5 times. He also highlighted Getty’s proactive approach to capital, having raised $250 million in forward equity and executed a delayed-draw senior notes offering of $125 million.
Constant shared that Getty currently has $150 million in undrawn equity available and no debt maturities until 2028, enabling it to confidently execute on a $110 million acquisition pipeline. About half of that pipeline is in automotive service, including collision centers, a newer area for Getty.
“I think we're going to become a much larger business and much more diversified,” he said. Given its focus on recession- and internet-resistant sectors like convenience stores and car washes, Getty expects continued resilience in the face of economic uncertainty.