Getty Realty Corporation (GTY) To Go Ex-Dividend on September 24th

Getty Realty Corporation (NYSE:GTY) announced a quarterly dividend on Tuesday, July 21st. Shareholders of record on Thursday, September 24th will be paid a dividend of 0.485 per share by the real estate investment trust on Thursday, October 8th. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Thursday, September 24th.

Getty Realty has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Getty Realty has a payout ratio of 144.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Getty Realty to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 77.6%.

Getty Realty Stock Down 2.0%

GTY opened at $35.88 on Thursday. Getty Realty has a 12 month low of $25.39 and a 12 month high of $36.83. The company has a market cap of $2.17 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.92. The company has a 50 day moving average of $33.65 and a 200 day moving average of $32.52.

Getty Realty (NYSE:GTY) last announced its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. The business had revenue of $57.84 million for the quarter, compared to the consensus estimate of $58.41 million. Getty Realty had a net margin of 40.06% and a return on equity of 8.76%. Getty Realty’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share. On average, sell-side analysts expect that Getty Realty will post 2.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GTY shares. Huntington assumed coverage on Getty Realty in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $37.00 price target on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $35.00 price objective on shares of Getty Realty in a report on Friday, April 24th. Weiss Ratings raised shares of Getty Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. KeyCorp lifted their price objective on Getty Realty from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Finally, Robert W. Baird upped their target price on shares of Getty Realty from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.17.

Getty Realty Company Profile

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company’s portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.