Getty Realty Corp. Plans 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 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date of this dividend is Thursday, March 27th.

Getty Realty has raised its dividend by an average of 2.0% annually over the last three years. Getty Realty has a payout ratio of 134.3% 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 research analysts expect Getty Realty to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 80.3%.

Getty Realty Stock Performance

NYSE GTY opened at $30.54 on Tuesday. The company has a fifty day moving average of $30.80 and a two-hundred day moving average of $31.30. The company has a market capitalization of $1.68 billion, a PE ratio of 24.24 and a beta of 0.91. Getty Realty has a 1 year low of $25.70 and a 1 year high of $33.85. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.28 and a quick ratio of 2.28.

Getty Realty (NYSE:GTY) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.29. Getty Realty had a return on equity of 7.43% and a net margin of 34.94%. As a group, analysts expect that Getty Realty will post 2.29 earnings per share for the current year.

Analyst Ratings Changes

GTY has been the topic of several recent research reports. KeyCorp upgraded Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 price target on the stock in a research report on Tuesday, December 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $34.00 price objective on shares of Getty Realty in a report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Getty Realty presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Getty Realty Company Profile