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

Getty Realty Corp. (NYSE:GTY) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Thursday, June 27th will be paid 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 yield of 6.85%. The ex-dividend date of this dividend is Thursday, June 27th.

Getty Realty has raised its dividend by an average of 5.1% per year over the last three years and has increased its dividend every year for the last 12 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. 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 Trading Down 0.7 %

NYSE GTY traded down $0.19 on Wednesday, reaching $26.29. The stock had a trading volume of 23,901 shares, compared to its average volume of 248,990. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 22.47 and a beta of 0.89. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.84. Getty Realty has a 12-month low of $25.90 and a 12-month high of $34.52. The stock has a fifty day moving average price of $27.31 and a two-hundred day moving average price of $27.57.

Getty Realty (NYSE:GTY) last announced its earnings results on Friday, April 26th. 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 net margin of 32.74% and a return on equity of 6.80%. The firm had revenue of $48.97 million during the quarter, compared to analysts’ expectations of $46.63 million. During the same period in the previous year, the firm earned $0.56 EPS. As a group, sell-side analysts forecast that Getty Realty will post 2.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Getty Realty