Getty Realty Corporation (NYSE:GTY) Declares $0.48 Quarterly Dividend

Key Points

• Getty Realty declared a quarterly dividend of $0.485 per share, payable on October 8 to shareholders of record on September 24. The stock offers an annualized dividend yield of about 5.3%.
• The REIT’s dividend appears not fully covered by current earnings, with a payout ratio of 144.8%. However, analysts expect earnings to improve enough next year to bring the payout ratio down to 77.6%.
• Getty Realty reported Q1 earnings of $0.43 per share, beating estimates, while revenue rose 10.5% year over year. The stock was trading near its 52-week high and was up about 1.2% on the day mentioned.

Getty Realty Corporation (NYSE:GTY - Get Free Report) declared a quarterly dividend on Tuesday, July 21st. Stockholders of record on Thursday, September 24th will be paid a dividend of 0.485 per share by the real estate investment trust on Thursday, October 8th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Thursday, September 24th.

Getty Realty has raised its dividend payment by an average of 0.0%annually 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 $2.50 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 77.6%.

Getty Realty Stock Up 1.2%

Shares of NYSE:GTY opened at $36.55 on Wednesday. Getty Realty has a fifty-two week low of $25.39 and a fifty-two week high of $36.67. The firm's 50 day moving average price is $33.58 and its 200 day moving average price is $32.46. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.92. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 2.98 and a beta of 0.72.

Getty Realty (NYSE:GTY - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09. The business had revenue of $57.84 million during the quarter, compared to analysts' expectations of $58.41 million. Getty Realty had a net margin of 40.06% and a return on equity of 8.76%. The company's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 EPS. As a group, equities research analysts predict that Getty Realty will post 2.42 earnings per share for the current fiscal 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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