Getty Realty Corp. Declares Quarterly Dividend of $0.47 (NYSE:GTY)

Getty Realty Corp. (NYSE:GTY) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Investors of record on Thursday, March 27th will be given 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 6.11%.

Getty Realty has increased its dividend payment by an average of 4.8% annually over the last three years. Getty Realty has a payout ratio of 139.3% meaning 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 $2.29 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 Trading Down 0.7 %

Shares of NYSE GTY traded down $0.23 during trading hours on Tuesday, reaching $30.76. The stock had a trading volume of 399,645 shares, compared to its average volume of 330,083. Getty Realty has a 52-week low of $25.70 and a 52-week high of $33.85. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.87. The business’s fifty day moving average price is $30.85 and its two-hundred day moving average price is $31.34. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 26.29 and a beta of 0.93.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GTY. JMP Securities reiterated a “market outperform” rating and set a $34.00 target price on shares of Getty Realty in a report on Friday, January 10th. Bank of America raised shares of Getty Realty from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $31.00 to $34.00 in a report on Monday, October 21st. Finally, KeyCorp upgraded Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 target price for the company in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

About Getty Realty