Getty Realty Corporation Announces Quarterly Dividend of $0.47 (NYSE:GTY)

Getty Realty Corporation (NYSE:GTY - Get Free Report) announced a quarterly dividend on Tuesday, July 22nd, RTT News reports. Shareholders of record on Thursday, September 25th will be given a dividend of 0.47 per share by the real estate investment trust on Thursday, October 9th. This represents a $1.88 annualized dividend and a yield of 6.78%. The ex-dividend date of this dividend is Thursday, September 25th.

Getty Realty has a dividend payout ratio of 140.3% 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 Stock Up 0.8%

Shares of GTY stock traded up $0.22 on Friday, hitting $27.73. The stock had a trading volume of 433,257 shares, compared to its average volume of 418,874. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 2.62 and a beta of 0.82. The stock's 50 day moving average is $28.31 and its 200-day moving average is $29.33. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.44 and a current ratio of 1.98. Getty Realty has a 52-week low of $26.42 and a 52-week high of $33.85.

Getty Realty (NYSE:GTY - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). Getty Realty had a return on equity of 6.87% and a net margin of 31.62%. The business had revenue of $51.31 million for the quarter, compared to analyst estimates of $51.59 million. As a group, research analysts expect that Getty Realty will post 2.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GTY. UBS Group cut their price objective on shares of Getty Realty from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. KeyCorp dropped their price target on shares of Getty Realty from $35.00 to $33.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, Robert W. Baird dropped their price target on shares of Getty Realty from $33.00 to $32.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $32.33.

Institutional Investors Weigh In On Getty Realty

Hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. bought a new stake in shares of Getty Realty during the first quarter valued at approximately $31,000. Amundi grew its holdings in Getty Realty by 12.7% during the first quarter. Amundi now owns 30,647 shares of the real estate investment trust's stock worth $930,000 after buying an additional 3,463 shares in the last quarter. Jane Street Group LLC grew its holdings in Getty Realty by 105.8% during the first quarter. Jane Street Group LLC now owns 113,313 shares of the real estate investment trust's stock worth $3,533,000 after buying an additional 58,255 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Getty Realty by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 306,733 shares of the real estate investment trust's stock worth $9,564,000 after buying an additional 23,370 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

About Getty Realty