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

Getty Realty Corp. (NYSE:GTY) 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 of this dividend 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 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 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 Down 0.4 %

Shares of GTY stock traded down $0.12 during trading hours on Friday, reaching $26.92. The company had a trading volume of 228,185 shares, compared to its average volume of 217,606. Getty Realty has a 12 month low of $25.90 and a 12 month high of $35.56. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.73 and a quick ratio of 3.73. The business has a fifty day simple moving average of $26.89 and a 200-day simple moving average of $27.81. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 23.00 and a beta of 0.89.

Getty Realty (NYSE:GTY) last posted its earnings results on Wednesday, February 14th. The real estate investment trust reported $0.30 earnings per share 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 6.87%. The company had revenue of $45.62 million during the quarter, compared to the consensus estimate of $47.19 million. On average, research analysts expect that Getty Realty will post 2.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. StockNews.com raised Getty Realty from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $33.00 price target on shares of Getty Realty in a research report on Monday, March 25th.

About Getty Realty