Getty Realty Corp. (GTY) To Go Ex-Dividend on September 26th

Getty Realty Corp. (NYSE:GTY) declared a quarterly dividend on Tuesday, July 23rd, Wall Street Journal reports. Shareholders of record on Thursday, September 26th will be paid a dividend of 0.45 per share by the real estate investment trust on Thursday, October 10th. This represents a $1.80 annualized dividend and a yield of 5.61%. The ex-dividend date of this dividend is Thursday, September 26th.

Getty Realty has increased its dividend payment by an average of 5.1% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Getty Realty has a payout ratio of 142.9% 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 research analysts expect Getty Realty to earn $2.26 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 79.6%.

Getty Realty Stock Performance

Shares of GTY stock opened at $32.10 on Tuesday. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 27.44 and a beta of 0.92. Getty Realty has a 52-week low of $25.70 and a 52-week high of $32.87. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average is $31.16 and its 200 day moving average is $28.57.

Getty Realty (NYSE:GTY) last released its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.27). Getty Realty had a return on equity of 6.98% and a net margin of 33.49%. The company had revenue of $49.94 million during the quarter, compared to the consensus estimate of $48.51 million. During the same period in the previous year, the firm posted $0.56 earnings per share. On average, sell-side analysts anticipate that Getty Realty will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on GTY. JMP Securities increased their target price 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. JPMorgan Chase & Co. boosted their target price on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th.

About Getty Realty