Getty Realty Corporation (NYSE:GTY) Announces Quarterly Dividend of $0.49

Getty Realty Corporation (NYSE:GTY) announced a quarterly dividend on Tuesday, February 10th. Stockholders of record on Thursday, March 26th will be given a dividend of 0.485 per share by the real estate investment trust on Thursday, April 9th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Thursday, March 26th.

Getty Realty has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Getty Realty has a dividend payout ratio of 144.8% 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 $2.34 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 82.9%.

Getty Realty Stock Performance

Shares of NYSE GTY traded up $0.19 during trading hours on Wednesday, reaching $31.41. The stock had a trading volume of 133,601 shares, compared to its average volume of 420,780. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 2.85 and a beta of 0.84. Getty Realty has a twelve month low of $25.39 and a twelve month high of $32.17. The business’s fifty day moving average is $28.84 and its two-hundred day moving average is $28.15. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.00 and a quick ratio of 2.00.

Institutional Trading of Getty Realty

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Getty Realty by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,488,950 shares of the real estate investment trust’s stock worth $232,343,000 after buying an additional 102,670 shares in the last quarter. State Street Corp grew its position in Getty Realty by 3.3% during the 2nd quarter. State Street Corp now owns 3,858,470 shares of the real estate investment trust’s stock worth $108,315,000 after acquiring an additional 124,350 shares during the last quarter. Geode Capital Management LLC increased its holdings in Getty Realty by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,472,865 shares of the real estate investment trust’s stock valued at $40,318,000 after purchasing an additional 28,155 shares in the last quarter. Millennium Management LLC raised its position in Getty Realty by 42.3% in the 3rd quarter. Millennium Management LLC now owns 1,142,413 shares of the real estate investment trust’s stock valued at $30,651,000 after purchasing an additional 339,388 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its position in Getty Realty by 58.8% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 802,660 shares of the real estate investment trust’s stock valued at $21,969,000 after purchasing an additional 297,229 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

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.