Getty Realty Corp. to Issue Quarterly Dividend of $0.45 (NYSE:GTY)

Getty Realty Corp. (NYSE:GTY) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Thursday, June 27th will be paid a dividend of 0.45 per share by the real estate investment trust on Thursday, July 11th. This represents a $1.80 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date of this dividend is Thursday, June 27th.

Getty Realty has increased its dividend by an average of 5.1% per year over the last three years and has raised its dividend every year for the last 12 years. Getty Realty has a payout ratio of 152.5% indicating that 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 $2.37 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 75.9%.

Getty Realty Stock Down 0.4 %

NYSE:GTY traded down $0.12 during trading hours on Friday, reaching $26.92. 228,185 shares of the company traded hands, compared to its average volume of 217,606. Getty Realty has a 1 year low of $25.90 and a 1 year high of $35.56. The business’s 50-day moving average price is $26.89 and its two-hundred day moving average price is $27.81. The company has a current ratio of 3.73, a quick ratio of 3.73 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $1.45 billion, a P/E ratio of 23.00 and a beta of 0.89.

Getty Realty (NYSE:GTY) last posted its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.27). Getty Realty had a return on equity of 6.87% and a net margin of 32.74%. The business had revenue of $45.62 million during the quarter, compared to analysts’ expectations of $47.19 million. Analysts predict that Getty Realty will post 2.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $33.00 price target on shares of Getty Realty in a research note on Monday, March 25th. StockNews.com upgraded Getty Realty from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd.

About Getty Realty