Getty Realty (NYSE:GTY) Issues Quarterly Earnings Results, Misses Estimates By $0.28 EPS

Getty Realty (NYSE:GTY) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.28), Yahoo Finance reports. The business had revenue of $51.47 million during the quarter, compared to analyst estimates of $49.79 million. Getty Realty had a return on equity of 6.98% and a net margin of 33.49%. During the same period in the prior year, the business posted $0.57 EPS. Getty Realty updated its FY 2024 guidance to 2.320-2.330 EPS.

Getty Realty Price Performance

GTY opened at $32.23 on Friday. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 26.64 and a beta of 0.92. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.88. The stock’s 50-day moving average price is $31.67 and its 200 day moving average price is $29.32. Getty Realty has a 12-month low of $25.70 and a 12-month high of $33.23.

Getty Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This is a boost from Getty Realty’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.83%. Getty Realty’s payout ratio is presently 148.76%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Bank of America upgraded Getty Realty from a “neutral” rating to a “buy” rating and raised their target price for the stock from $31.00 to $34.00 in a research note on Monday, October 21st. JMP Securities upped their price objective on shares of Getty Realty from $31.50 to $33.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.50.

About Getty Realty