Getty Realty Corp. Plans Quarterly Dividend of $0.45 (NYSE:GTY)

Getty Realty Corp. (NYSE:GTY) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Thursday, June 27th will be given a dividend of 0.45 per share by the real estate investment trust on Thursday, July 11th. This represents a $1.80 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date of this dividend is Thursday, June 27th.

Getty Realty has increased its dividend by an average of 5.1% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Getty Realty has a dividend payout ratio of 152.5% 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 $2.37 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 75.9%.

Getty Realty Price Performance

Shares of GTY stock traded down $0.12 on Friday, reaching $26.92. The company’s stock had a trading volume of 228,185 shares, compared to its average volume of 217,606. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 23.00 and a beta of 0.89. The stock’s fifty day simple moving average is $26.89 and its 200-day simple moving average is $27.81. The company has a current ratio of 3.73, a quick ratio of 3.73 and a debt-to-equity ratio of 0.79. Getty Realty has a 1 year low of $25.90 and a 1 year high of $35.56.

Getty Realty (NYSE:GTY) last posted its earnings results on Wednesday, February 14th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.27). Getty Realty had a return on equity of 6.87% and a net margin of 32.74%. The business had revenue of $45.62 million during the quarter, compared to the consensus estimate of $47.19 million. Analysts forecast that Getty Realty will post 2.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $33.00 target price on shares of Getty Realty in a research report on Monday, March 25th. StockNews.com upgraded Getty Realty from a “sell” rating to a “hold” rating in a report on Monday, April 22nd.

About Getty Realty