Getty Realty Corporation Announces Quarterly Dividend of $0.49 (NYSE:GTY)

Key Points

• Quarterly dividend of $0.485 per share announced, payable July 9 to shareholders of record June 25 (ex-dividend date June 25), representing an annualized $1.94 and a yield of about 5.7%.
• Getty currently has a payout ratio of 144.8%, meaning dividends exceed recent earnings and are being funded from the balance sheet; analysts expect ~ $2.49 EPS next year, which would lower the projected payout ratio to roughly 77.9%.
• Most recent quarter: EPS $0.63 (beat $0.62) and revenue $60.55M (beat $55.94M), with revenue up 14.2% year-over-year; analysts forecast roughly 2.4 EPS for the current year.

Getty Realty Corporation (NYSE:GTY - Get Free Report) announced a quarterly dividend on Tuesday, April 21st. Shareholders of record on Thursday, June 25th will be paid a dividend of 0.485 per share by the real estate investment trust on Thursday, July 9th. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date is Thursday, June 25th.

Getty Realty has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 1 years. Getty Realty has a payout ratio of 144.8% 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 $2.49 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 77.9%.

Getty Realty Stock Performance

Shares of GTY opened at $34.07 on Wednesday. The business's fifty day moving average price is $32.93 and its 200 day moving average price is $29.89. Getty Realty has a 12-month low of $25.39 and a 12-month high of $34.72. The stock has a market capitalization of $2.04 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 2.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.20 and a quick ratio of 2.20.

Getty Realty (NYSE:GTY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. Getty Realty had a return on equity of 7.86% and a net margin of 35.72%.The firm had revenue of $60.55 million for the quarter, compared to analysts' expectations of $55.94 million. The firm's revenue for the quarter was up 14.2% compared to the same quarter last year. Equities research analysts forecast that Getty Realty will post 2.4 EPS for the current year.

About Getty Realty

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company's portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.

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