Getty Realty Corporation (NYSE:GTY) Announces Dividend Increase - $0.49 Per Share

Key Points

• Getty Realty Corporation has increased its quarterly dividend to $0.49 per share, reflecting a 3.2% rise from the previous dividend of $0.47.
• The company has a dividend payout ratio of 140.3%, which indicates that it is currently relying on its balance sheet to cover dividend payments rather than earnings.
• As of October 21st, Getty Realty stock was priced at $27.85, with analysts predicting a future earnings per share of $2.34 for the next year.

Getty Realty Corporation (NYSE:GTY - Get Free Report) declared a quarterly dividend on Tuesday, October 21st. Shareholders of record on Friday, December 26th will be given a dividend of 0.485 per share by the real estate investment trust on Thursday, January 8th. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Friday, December 26th. This is a 3.2% increase from Getty Realty's previous quarterly dividend of $0.47.

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. 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 1.4%

Getty Realty stock opened at $27.85 on Wednesday. Getty Realty has a fifty-two week low of $25.39 and a fifty-two week high of $33.85. The firm has a market capitalization of $1.58 billion, a PE ratio of 24.13, a P/E/G ratio of 1.98 and a beta of 0.82. The company's 50-day moving average is $27.58 and its 200-day moving average is $28.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.98 and a quick ratio of 1.98.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GTY. Advisors Asset Management Inc. acquired a new stake in shares of Getty Realty in the first quarter valued at approximately $31,000. EverSource Wealth Advisors LLC grew its position in Getty Realty by 3,996.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,188 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 1,159 shares during the last quarter. US Bancorp DE grew its holdings in shares of Getty Realty by 52.4% during the 1st quarter. US Bancorp DE now owns 1,093 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 376 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Getty Realty by 288.6% during the third quarter. Farther Finance Advisors LLC now owns 1,364 shares of the real estate investment trust's stock worth $37,000 after buying an additional 1,013 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Getty Realty by 111.3% during the second quarter. Signaturefd LLC now owns 1,386 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 730 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Getty Realty Company Profile

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