Getty Realty Corp. (NYSE:GTY) Plans $0.45 Quarterly Dividend

Getty Realty Corp. (NYSE:GTY) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Thursday, June 27th will be paid a dividend of 0.45 per share by the real estate investment trust on Thursday, July 11th. This represents a $1.80 annualized dividend and a dividend yield of 6.69%. The ex-dividend date is Thursday, June 27th.

Getty Realty has increased its dividend by an average of 5.1% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Getty Realty has a dividend payout ratio of 152.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Getty Realty to earn $2.37 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 75.9%.

Getty Realty Stock Down 0.4 %

Shares of NYSE GTY traded down $0.12 during trading on Friday, hitting $26.92. 228,185 shares of the company traded hands, compared to its average volume of 217,606. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 23.00 and a beta of 0.89. The business’s fifty day moving average is $26.89 and its 200 day moving average is $27.81. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.73 and a current ratio of 3.73. Getty Realty has a fifty-two week low of $25.90 and a fifty-two week high of $35.56.

Getty Realty (NYSE:GTY) last released its quarterly earnings data on Wednesday, February 14th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.27). Getty Realty had a net margin of 32.74% and a return on equity of 6.87%. The firm had revenue of $45.62 million for the quarter, compared to the consensus estimate of $47.19 million. Equities research analysts predict that Getty Realty will post 2.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GTY has been the subject of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and set a $33.00 price objective on shares of Getty Realty in a report on Monday, March 25th. StockNews.com upgraded Getty Realty from a “sell” rating to a “hold” rating in a report on Monday, April 22nd.

Getty Realty Company Profile