Getty Realty Corp. (NYSE:GTY) Declares $0.47 Quarterly Dividend

Getty Realty Corp. (NYSE:GTY - Get Free Report) declared a quarterly dividend on Tuesday, April 22nd, RTT News reports. Investors of record on Thursday, June 26th will be paid a dividend of 0.47 per share by the real estate investment trust on Thursday, July 10th. This represents a $1.88 annualized dividend and a yield of 6.87%. The ex-dividend date of this dividend is Thursday, June 26th.

Getty Realty has increased its dividend by an average of 2.0% per year over the last three years. Getty Realty has a payout ratio of 138.2% 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 research analysts expect Getty Realty to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 80.3%.

Getty Realty Trading Down 0.8 %

Shares of GTY stock traded down $0.21 on Friday, hitting $27.36. The company had a trading volume of 400,968 shares, compared to its average volume of 317,762. Getty Realty has a twelve month low of $25.70 and a twelve month high of $33.85. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market cap of $1.51 billion, a P/E ratio of 21.71 and a beta of 0.85. The stock's 50-day moving average is $29.91 and its two-hundred day moving average is $30.82.

Getty Realty (NYSE:GTY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. The company had revenue of $52.33 million during the quarter, compared to analysts' expectations of $52.71 million. Getty Realty had a net margin of 34.94% and a return on equity of 7.43%. On average, equities research analysts anticipate that Getty Realty will post 2.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on GTY. Robert W. Baird cut their target price on Getty Realty from $33.00 to $32.00 and set a "neutral" rating on the stock in a research report on Thursday. UBS Group assumed coverage on Getty Realty in a report on Friday, March 28th. They set a "neutral" rating and a $32.00 price target on the stock. Finally, JMP Securities reiterated a "market outperform" rating and issued a $34.00 price objective on shares of Getty Realty in a research note on Friday, January 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Getty Realty presently has an average rating of "Moderate Buy" and an average price target of $33.33.

Getty Realty Company Profile