Getty Realty Corporation (NYSE:GTY) Declares $0.49 Quarterly Dividend

Getty Realty Corporation (NYSE:GTYGet Free Report) declared a quarterly dividend on Tuesday, February 10th. Investors of record on Thursday, March 26th will be paid a dividend of 0.485 per share by the real estate investment trust on Thursday, April 9th. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date is Thursday, March 26th.

Getty Realty has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Getty Realty has a dividend payout ratio of 144.8% meaning 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 $2.34 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 82.9%.

Getty Realty Stock Up 0.6%

NYSE GTY traded up $0.19 during trading on Wednesday, reaching $31.41. The company’s stock had a trading volume of 133,601 shares, compared to its average volume of 420,780. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $1.81 billion, a PE ratio of 24.52, a PEG ratio of 2.85 and a beta of 0.84. Getty Realty has a 1-year low of $25.39 and a 1-year high of $32.17. The business has a 50-day moving average price of $28.84 and a 200-day moving average price of $28.15.

About Getty Realty

(Get Free Report)

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.

See Also

Dividend History for Getty Realty (NYSE:GTY)

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