Getty Realty Corp. Announces Quarterly Dividend of $0.47 (NYSE:GTY)

Getty Realty Corp. (NYSE:GTY - Get Free Report) 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 6.20%. The ex-dividend date is Thursday, March 27th.

Getty Realty has increased its dividend by an average of 2.0% per year over the last three years. Getty Realty has a payout ratio of 139.3% 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 $2.29 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 82.1%.

Getty Realty Stock Performance

Shares of GTY stock traded down $0.63 during mid-day trading on Friday, hitting $30.32. The stock had a trading volume of 283,284 shares, compared to its average volume of 325,643. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.44 and a quick ratio of 2.44. Getty Realty has a fifty-two week low of $25.70 and a fifty-two week high of $33.85. The company's 50-day simple moving average is $30.72 and its 200-day simple moving average is $31.32. The firm has a market cap of $1.67 billion, a PE ratio of 25.91 and a beta of 0.93.

Getty Realty (NYSE:GTY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.31 by $0.29. Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. Sell-side analysts anticipate that Getty Realty will post 2.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. KeyCorp upgraded shares of Getty Realty from a "sector weight" rating to an "overweight" rating and set a $35.00 target price for the company in a report on Tuesday, December 17th. 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. Finally, Bank of America raised shares of Getty Realty from a "neutral" rating to a "buy" rating and raised their target price for the stock from $31.00 to $34.00 in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $34.00.

Getty Realty Company Profile