Getty Realty Corporation (NYSE:GTY) Plans Quarterly Dividend of $0.48

Getty Realty Corporation (NYSE:GTY) announced a quarterly dividend on Tuesday, July 21st. Stockholders of record on Thursday, September 24th will be given a dividend of 0.485 per share by the real estate investment trust on Thursday, October 8th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Thursday, September 24th.

Getty Realty has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Getty Realty has a dividend 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. Equities analysts expect Getty Realty to earn $2.50 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 77.6%.

Getty Realty Stock Performance

Shares of GTY stock opened at $36.55 on Wednesday. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 2.98 and a beta of 0.72. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.24 and a current ratio of 2.24. The company has a 50-day simple moving average of $33.58 and a 200 day simple moving average of $32.46. Getty Realty has a 52 week low of $25.39 and a 52 week high of $36.67.

Getty Realty (NYSE:GTY) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. The business had revenue of $57.84 million for the quarter, compared to analyst estimates of $58.41 million. Getty Realty had a net margin of 40.06% and a return on equity of 8.76%. Getty Realty’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 EPS. On average, sell-side analysts predict that Getty Realty will post 2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. KeyCorp boosted their price objective on Getty Realty from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $35.00 target price on shares of Getty Realty in a research note on Friday, April 24th. Weiss Ratings raised Getty Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Citigroup restated a “market outperform” rating on shares of Getty Realty in a research note on Friday, June 12th. Finally, Huntington initiated coverage on Getty Realty in a report on Wednesday, July 15th. They issued an “outperform” rating and a $37.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.17.

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.