Getty Realty Corporation Declares 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. Investors 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 dividend yield of 6.89%.

Getty Realty has a dividend payout ratio of 140.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Performance

Getty Realty stock traded up $0.34 on Tuesday, reaching $27.29. 319,205 shares of the stock were exchanged, compared to its average volume of 371,263. The firm has a fifty day moving average price of $28.36 and a two-hundred day moving average price of $29.38. The stock has a market cap of $1.51 billion, a PE ratio of 22.55, a PEG ratio of 2.55 and a beta of 0.82. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.94. Getty Realty has a twelve month low of $26.42 and a twelve month high of $33.85.

Getty Realty (NYSE:GTY - Get Free Report) last issued 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. Getty Realty had a net margin of 33.44% and a return on equity of 7.21%. The firm had revenue of $52.33 million for the quarter, compared to analysts' expectations of $52.71 million. Sell-side analysts anticipate that Getty Realty will post 2.29 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GTY. Advisors Asset Management Inc. purchased a new stake in Getty Realty during the first quarter worth approximately $31,000. Amundi lifted its stake 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 purchasing an additional 3,463 shares during the last quarter. Jane Street Group LLC increased its position 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 during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position 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 during the period. Hedge funds and other institutional investors own 85.11% of the company's stock.

About Getty Realty

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.