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

Getty Realty Corp. (NYSE:GTY) declared a quarterly dividend on Tuesday, October 22nd,Wall Street Journal reports. Investors of record on Thursday, December 26th will be paid a dividend of 0.47 per share by the real estate investment trust on Thursday, January 9th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date is Thursday, December 26th. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45.

Getty Realty has increased its dividend by an average of 5.1% per year over the last three years and has increased its dividend every year for the last 13 years. Getty Realty has a dividend payout ratio of 145.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 $30.39 on Tuesday. Getty Realty has a twelve month low of $25.70 and a twelve month high of $33.85. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a market cap of $1.67 billion, a P/E ratio of 25.97 and a beta of 0.92. The firm’s 50-day simple moving average is $32.02 and its 200-day simple moving average is $30.68.

Getty Realty (NYSE:GTY) last issued its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.28). The firm had revenue of $51.47 million for the quarter, compared to the consensus estimate of $49.79 million. Getty Realty had a return on equity of 6.84% and a net margin of 32.97%. During the same period in the prior year, the company posted $0.57 earnings per share. As a group, research analysts expect that Getty Realty will post 2.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GTY shares. Bank of America upgraded Getty Realty from a “neutral” rating to a “buy” rating and upped their price objective for the company from $31.00 to $34.00 in a report on Monday, October 21st. KeyCorp raised shares of Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 price objective on the stock in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.75.

Getty Realty Company Profile