Getty Realty Corp. (NYSE:GTY) Announces $0.45 Quarterly Dividend

Getty Realty Corp. (NYSE:GTY - Get Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Thursday, June 27th will be given a dividend of 0.45 per share by the real estate investment trust on Thursday, July 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date is Thursday, June 27th.

Getty Realty has raised its dividend payment by an average of 5.1% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Getty Realty has a dividend payout ratio of 152.5% 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 $2.37 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 75.9%.

Getty Realty Stock Performance

Shares of GTY stock traded down $0.12 on Friday, reaching $26.92. The stock had a trading volume of 228,185 shares, compared to its average volume of 217,606. The stock has a market cap of $1.45 billion, a P/E ratio of 23.00 and a beta of 0.89. Getty Realty has a 1 year low of $25.90 and a 1 year high of $35.56. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.73 and a current ratio of 3.73. The company has a 50 day simple moving average of $26.89 and a 200 day simple moving average of $27.81.

Getty Realty (NYSE:GTY - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.57 by ($0.27). Getty Realty had a return on equity of 6.87% and a net margin of 32.74%. The firm had revenue of $45.62 million during the quarter, compared to analysts' expectations of $47.19 million. Equities research analysts expect that Getty Realty will post 2.31 EPS for the current year.

Analysts Set New Price Targets

GTY has been the topic of a number of recent research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $33.00 target price on shares of Getty Realty in a report on Monday, March 25th. StockNews.com raised Getty Realty from a "sell" rating to a "hold" rating in a report on Monday, April 22nd.

Getty Realty Company Profile