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

Getty Realty Corp. (NYSE:GTY) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Shareholders 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 yield of 6.25%. The ex-dividend date is Thursday, March 27th.

Getty Realty has raised its dividend payment by an average of 4.8% annually over the last three years. Getty Realty has a dividend payout ratio of 139.3% 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 $2.29 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 Price Performance

Shares of Getty Realty stock opened at $30.07 on Thursday. Getty Realty has a 12 month low of $25.70 and a 12 month high of $33.85. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.44 and a quick ratio of 2.44. The business has a 50 day simple moving average of $30.82 and a two-hundred day simple moving average of $31.33. The stock has a market capitalization of $1.65 billion, a P/E ratio of 25.70 and a beta of 0.93.

Getty Realty (NYSE:GTY) last released its quarterly earnings data 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 32.97% and a return on equity of 6.84%. As a group, analysts predict that Getty Realty will post 2.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on GTY shares. Bank of America upgraded Getty Realty from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $31.00 to $34.00 in a research report on Monday, October 21st. JMP Securities reaffirmed a “market outperform” rating and set a $34.00 price objective on shares of Getty Realty in a research report on Friday, January 10th. Finally, KeyCorp raised Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 target price on the stock in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

About Getty Realty