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

Getty Realty Corp. (NYSE:GTY) declared a quarterly dividend on Tuesday, July 23rd, Wall Street Journal reports. Shareholders of record on Thursday, September 26th will be given a dividend of 0.45 per share by the real estate investment trust on Thursday, October 10th. This represents a $1.80 annualized dividend and a yield of 5.64%. The ex-dividend date of this dividend is Thursday, September 26th.

Getty Realty has increased its dividend payment by an average of 5.1% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Getty Realty has a payout ratio of 142.9% 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 $2.26 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 79.6%.

Getty Realty Trading Down 0.6 %

Getty Realty stock opened at $31.91 on Wednesday. The business has a 50 day moving average price of $31.21 and a two-hundred day moving average price of $28.60. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.88. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 27.27 and a beta of 0.92. Getty Realty has a 12 month low of $25.70 and a 12 month high of $32.87.

Getty Realty (NYSE:GTY) last issued its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.27). Getty Realty had a return on equity of 6.98% and a net margin of 33.49%. The company had revenue of $49.94 million during the quarter, compared to analyst estimates of $48.51 million. During the same period in the previous year, the company posted $0.56 earnings per share. As a group, equities analysts forecast that Getty Realty will post 2.2 EPS for the current year.

Wall Street Analysts Forecast Growth

GTY has been the subject of a number of recent research reports. JMP Securities increased their target price on Getty Realty from $31.50 to $33.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th.

Getty Realty Company Profile