Getty Realty (NYSE:GTY) Announces Quarterly Earnings Results

Getty Realty (NYSE:GTY) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.29, Zacks reports. Getty Realty had a net margin of 32.97% and a return on equity of 6.84%.

Getty Realty Trading Down 2.2 %

GTY traded down $0.69 during midday trading on Wednesday, hitting $30.07. The company’s stock had a trading volume of 593,292 shares, compared to its average volume of 339,476. Getty Realty has a 52-week low of $25.70 and a 52-week high of $33.85. The firm has a 50-day moving average price of $30.82 and a two-hundred day moving average price of $31.33. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.87. The firm has a market cap of $1.65 billion, a P/E ratio of 25.70 and a beta of 0.93.

Getty Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 27th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date is Thursday, March 27th. Getty Realty’s payout ratio is 160.68%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Bank of America upgraded shares of Getty Realty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $31.00 to $34.00 in a research note on Monday, October 21st. JMP Securities reiterated a “market outperform” rating and issued a $34.00 target price on shares of Getty Realty in a research note on Friday, January 10th. Finally, KeyCorp raised Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 price objective on the stock in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

About Getty Realty