Getty Realty (NYSE:GTY) Announces Earnings Results

Getty Realty (NYSE:GTY - Get Free Report) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.28), Yahoo Finance reports. The company had revenue of $51.47 million during the quarter, compared to the consensus estimate of $49.79 million. Getty Realty had a net margin of 33.49% and a return on equity of 6.98%. During the same period in the previous year, the company earned $0.57 EPS. Getty Realty updated its FY 2024 guidance to 2.320-2.330 EPS.

Getty Realty Trading Down 1.2 %

Shares of GTY traded down $0.39 during trading hours on Friday, hitting $32.23. 153,034 shares of the stock were exchanged, compared to its average volume of 288,703. Getty Realty has a fifty-two week low of $25.70 and a fifty-two week high of $33.23. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.22 and a quick ratio of 3.22. The business has a 50-day moving average of $31.67 and a 200-day moving average of $29.32. The firm has a market capitalization of $1.74 billion, a P/E ratio of 27.55 and a beta of 0.92.

Getty Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, December 26th. This is a boost from Getty Realty's previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 5.83%. Getty Realty's dividend payout ratio is 160.68%.

Analysts Set New Price Targets

GTY has been the subject of several research reports. Bank of America raised shares of Getty Realty from a "neutral" rating to a "buy" rating and increased their price objective for the company from $31.00 to $34.00 in a research note on Monday. JMP Securities upped their price target on shares of Getty Realty from $31.50 to $33.00 and gave the company a "market outperform" rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of Getty Realty from $31.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Getty Realty presently has an average rating of "Hold" and a consensus price target of $32.50.

Getty Realty Company Profile