Getty Realty (NYSE:GTY) Releases FY 2024 Earnings Guidance

Getty Realty (NYSE:GTY) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.320-2.330 for the period, compared to the consensus EPS estimate of 2.320. The company issued revenue guidance of -.

Getty Realty Trading Up 0.2 %

NYSE:GTY traded up $0.07 during mid-day trading on Wednesday, hitting $32.26. 256,302 shares of the company’s stock were exchanged, compared to its average volume of 289,399. Getty Realty has a fifty-two week low of $25.70 and a fifty-two week high of $32.87. 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 firm has a market capitalization of $1.74 billion, a P/E ratio of 27.57 and a beta of 0.92. The company has a 50 day simple moving average of $31.60 and a 200-day simple moving average of $29.26.

Getty Realty (NYSE:GTY) last announced its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.27). The company had revenue of $49.94 million for the quarter, compared to analyst estimates of $48.51 million. Getty Realty had a return on equity of 6.98% and a net margin of 33.49%. During the same period in the previous year, the firm posted $0.56 earnings per share. As a group, research analysts expect that Getty Realty will post 2.22 earnings per share for the current year.

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 given a dividend of $0.47 per share. 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 annualized dividend and a dividend yield of 5.83%. Getty Realty’s dividend payout ratio is 153.85%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Bank of America raised shares of Getty Realty from a “neutral” rating to a “buy” rating and upped their price target for the company from $31.00 to $34.00 in a research report on Monday. JMP Securities boosted their price target on 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. raised their price objective on shares of 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 company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.50.

About Getty Realty