Getty Realty (NYSE:GTY) Posts Quarterly Earnings Results, Misses Estimates By $0.28 EPS

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

Getty Realty Trading Down 1.2 %

Shares of NYSE GTY traded down $0.40 during midday trading on Friday, hitting $32.22. 79,905 shares of the company traded hands, compared to its average volume of 288,350. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.22 and a current ratio of 3.22. Getty Realty has a 12-month low of $25.70 and a 12-month high of $33.23. The stock has a 50-day moving average price of $31.64 and a 200 day moving average price of $29.28. The firm has a market cap of $1.74 billion, a P/E ratio of 27.68 and a beta of 0.92.

Getty Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 26th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $1.88 annualized dividend and a yield of 5.83%. This is a boost from Getty Realty’s previous quarterly dividend of $0.45. Getty Realty’s payout ratio is 160.68%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America upgraded shares of Getty Realty from a “neutral” rating to a “buy” rating and raised their price objective for the company from $31.00 to $34.00 in a research report on Monday. JPMorgan Chase & Co. lifted their price target on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, JMP Securities lifted their target price on shares of Getty Realty from $31.50 to $33.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.50.

About Getty Realty