Getty Realty Corporation (NYSE:GTY) Plans $0.49 Quarterly Dividend

Getty Realty Corporation (NYSE:GTY) declared a quarterly dividend on Tuesday, April 21st. Stockholders of record on Thursday, June 25th will be paid a dividend of 0.485 per share by the real estate investment trust on Thursday, July 9th. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Thursday, June 25th.

Getty Realty has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 1 years. Getty Realty has a payout ratio of 144.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Getty Realty to earn $2.49 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 77.9%.

Getty Realty Stock Performance

Shares of GTY stock opened at $34.07 on Wednesday. The stock has a market cap of $2.04 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 2.52 and a beta of 0.81. The business has a 50-day simple moving average of $32.93 and a 200-day simple moving average of $29.89. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.93. Getty Realty has a 52-week low of $25.39 and a 52-week high of $34.72.

Getty Realty (NYSE:GTY) last issued its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. The business had revenue of $60.55 million during the quarter, compared to analysts’ expectations of $55.94 million. Getty Realty had a return on equity of 7.86% and a net margin of 35.72%.The company’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, equities analysts expect that Getty Realty will post 2.4 EPS for the current year.

Institutional Investors Weigh In On Getty Realty

Several large investors have recently bought and sold shares of GTY. Aster Capital Management DIFC Ltd purchased a new stake in Getty Realty during the 3rd quarter worth approximately $27,000. Newbridge Financial Services Group Inc. purchased a new stake in Getty Realty during the 4th quarter worth approximately $29,000. Advisors Asset Management Inc. purchased a new stake in Getty Realty during the 1st quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its stake in Getty Realty by 3,996.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,188 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,159 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Getty Realty by 288.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,364 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 1,013 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

About Getty Realty

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company’s portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.