Getty Realty Corp. (NYSE:GTY) to Issue $0.47 Quarterly Dividend

Getty Realty Corp. (NYSE:GTY) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Shareholders of record on Thursday, March 27th will be paid a dividend of 0.47 per share by the real estate investment trust on Thursday, April 10th. This represents a $1.88 annualized dividend and a yield of 6.25%. The ex-dividend date is Thursday, March 27th.

Getty Realty has raised its dividend by an average of 4.8% annually over the last three years. Getty Realty has a dividend payout ratio of 139.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Getty Realty to earn $2.29 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 82.1%.

Getty Realty Stock Performance

Shares of GTY opened at $30.07 on Thursday. Getty Realty has a 1 year low of $25.70 and a 1 year high of $33.85. The stock has a market capitalization of $1.65 billion, a PE ratio of 25.70 and a beta of 0.93. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.44 and a current ratio of 2.44. The stock has a 50-day simple moving average of $30.82 and a 200-day simple moving average of $31.33.

Getty Realty (NYSE:GTY) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.29. Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. On average, analysts predict that Getty Realty will post 2.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GTY. KeyCorp upgraded shares of Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 target price for the company in a research note on Tuesday, December 17th. JMP Securities reaffirmed a “market outperform” rating and set a $34.00 price target on shares of Getty Realty in a report on Friday, January 10th. Finally, Bank of America upgraded Getty Realty from a “neutral” rating to a “buy” rating and increased their price objective for the company from $31.00 to $34.00 in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Getty Realty presently has an average rating of “Moderate Buy” and an average target price of $34.00.

Getty Realty Company Profile