Research Analyst at Bank of America
Daniel Byun is an Equity Research Associate at Bank of America, specializing in equities analysis with a focus on delivering actionable investment insights. He has contributed to coverage of major companies in key sectors, supporting research that has informed institutional investor decisions and assisted in generating competitive returns for client portfolios. Byun began his career as an Equity Research Analyst before joining Bank of America in Charlotte, North Carolina, where he has demonstrated strong analytical skills and financial acumen. Holding relevant securities licenses and maintaining rigorous professional standards, he is recognized for his commitment to high-quality research, though specific performance metrics and rankings remain undisclosed.
Daniel Byun from Bank of America asked if Realty Income is observing an increase in interest from U.S.-based buyers for the European deals it is pursuing.
CEO Sumit Roy confirmed that the company is beginning to see more interest from American investors in Europe, noting that a couple of private U.S. buyers have recently entered the market.
Daniel Byun asked about the level of competition in the buyer pool and whether the improved rent coverage in the car wash portfolio was due to the Zipps resolution or underlying fundamentals.
President & CEO Christopher Constant stated that while competition exists, Getty's focus on direct sale-leasebacks mitigates some pressure. EVP, CFO & Treasurer Brian Dickman clarified that the car wash rent coverage improvement was organic and fundamental across the portfolio, as the Zipps assets were already excluded from the prior quarter's metrics. He attributed the improvement to the maturing of newer sites.
Daniel Byun of Bank of America asked about the level of competition in the buyer pool and whether the improved rent coverage in the car wash portfolio was due to the Zips resolution or underlying fundamentals.
President & CEO Christopher Constant noted that while competition exists, Getty's relationship-based, direct sale-leaseback model provides an advantage. EVP & CFO Brian Dickman clarified the car wash improvement was organic, as Zips was already excluded previously, and attributed the gain to broad-based fundamental strength and the maturation of newer sites.