Getty Realty Corporation (NYSE:GTY) Announces Quarterly Dividend of $0.50

Getty Realty Corporation (NYSE:GTY) declared a quarterly dividend on Tuesday, October 20th. Investors of record on Thursday, December 24th will be paid a dividend of $0.50 per share by the real estate investment trust on Thursday, January 7th. This represents a $2.00 annualized dividend and a yield of 7.2%. The ex-dividend date is Thursday, December 24th. This is a 3.1% increase from Getty Realty’s previous quarterly dividend of $0.4850.

Getty Realty has a dividend payout ratio of 144.8% meaning 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 $2.54 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 76.4%.

Getty Realty Trading Down 0.7%

GTY traded down $0.18 during midday trading on Wednesday, hitting $27.86. 86,175 shares of the company were exchanged, compared to its average volume of 533,798. The firm has a market capitalization of $1.73 billion, a P/E ratio of 16.96, a P/E/G ratio of 2.05 and a beta of 0.72. Getty Realty has a 1-year low of $26.91 and a 1-year high of $36.83. The firm’s 50 day moving average price is $30.62 and its 200-day moving average price is $32.55. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.95.

Getty Realty (NYSE:GTY) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $59.05 million during the quarter, compared to analyst estimates of $58.45 million. Getty Realty had a net margin of 42.74% and a return on equity of 9.27%. Getty Realty’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities analysts forecast that Getty Realty will post 2.45 EPS for the current fiscal year.

Getty Realty Company Profile

Getty Realty Corp. is a real estate investment trust that owns, leases and develops convenience store, gasoline station and automotive service properties. Its portfolio also includes properties used for car washes, truck service, automotive parts and repairs, and other retail and service businesses.

The company generally leases its properties to operators under long-term, often triple-net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance.