Getty Realty Corp. (NYSE:GTY) to Issue $0.35 Quarterly Dividend

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Getty Realty Corp. (NYSE:GTY) declared a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Investors of record on Thursday, June 20th will be paid a dividend of 0.35 per share by the real estate investment trust on Friday, July 5th. This represents a $1.40 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Wednesday, June 19th.

Getty Realty has increased its dividend by an average of 12.5% per year over the last three years and has raised its dividend every year for the last 6 years. Getty Realty has a payout ratio of 76.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Getty Realty to earn $1.85 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 75.7%.

NYSE GTY traded up $0.43 on Tuesday, hitting $32.06. The stock had a trading volume of 28,602 shares, compared to its average volume of 99,679. The business has a fifty day moving average of $31.94. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.70 and a current ratio of 1.70. Getty Realty has a 52-week low of $26.35 and a 52-week high of $35.03. The company has a market capitalization of $1.28 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 6.32 and a beta of 0.60.

Getty Realty (NYSE:GTY) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.17). The company had revenue of $33.29 million for the quarter, compared to analysts’ expectations of $29.65 million. Getty Realty had a return on equity of 8.56% and a net margin of 35.21%. On average, analysts predict that Getty Realty will post 1.77 EPS for the current fiscal year.

Separately, Zacks Investment Research raised shares of Getty Realty from a “sell” rating to a “hold” rating in a research note on Saturday.

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Getty Realty Company Profile

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Dividend History for Getty Realty (NYSE:GTY)

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