Getty Realty Corp. (GTY) to Issue Quarterly Dividend of $0.47 on April 10th

Getty Realty Corp. (NYSE:GTY) announced a quarterly dividend on Tuesday, February 11th, RTT News reports. Stockholders 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 dividend yield of 6.16%. The ex-dividend date of this dividend is Thursday, March 27th.

Getty Realty has increased 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 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 Price Performance

NYSE:GTY opened at $30.54 on Tuesday. The company has a market capitalization of $1.68 billion, a P/E ratio of 24.24 and a beta of 0.91. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.94. Getty Realty has a 52 week low of $25.70 and a 52 week high of $33.85. The stock’s fifty day moving average is $30.80 and its two-hundred day moving average is $31.30.

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

Analyst Ratings Changes

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

About Getty Realty