Getty Realty (NYSE:GTY) Updates FY 2024 Earnings Guidance

Getty Realty (NYSE:GTY) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.320-2.330 for the period, compared to the consensus earnings per share estimate of 2.320. The company issued revenue guidance of -.

Getty Realty Stock Up 1.1 %

Shares of NYSE:GTY traded up $0.34 during midday trading on Thursday, hitting $32.60. 281,828 shares of the company’s stock traded hands, compared to its average volume of 289,362. The firm’s fifty day moving average price is $31.60 and its two-hundred day moving average price is $29.26. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.22 and a current ratio of 3.22. Getty Realty has a twelve month low of $25.70 and a twelve month high of $33.23. The company has a market cap of $1.76 billion, a PE ratio of 27.86 and a beta of 0.92.

Getty Realty (NYSE:GTY) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.27). Getty Realty had a return on equity of 6.98% and a net margin of 33.49%. The company had revenue of $49.94 million for the quarter, compared to analyst estimates of $48.51 million. During the same quarter in the prior year, the firm earned $0.56 EPS. On average, equities research analysts anticipate that Getty Realty will post 2.22 EPS for the current fiscal year.

Getty Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 26th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, December 26th. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 5.77%. Getty Realty’s payout ratio is 153.85%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GTY shares. Bank of America upgraded 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 research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Finally, JMP Securities raised their target price on Getty Realty from $31.50 to $33.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Getty Realty currently has an average rating of “Hold” and a consensus target price of $32.50.

Getty Realty Company Profile