Getty Realty (NYSE:GTY) Posts Earnings Results, Beats Estimates By $0.05 EPS

Getty Realty (NYSE:GTY) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05, Zacks reports. The business had revenue of $62.99 million during the quarter, compared to analysts’ expectations of $59.18 million. Getty Realty had a return on equity of 9.31% and a net margin of 42.37%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 earnings per share.

Getty Realty Stock Performance

Shares of NYSE:GTY opened at $28.57 on Friday. The stock has a market capitalization of $1.77 billion, a P/E ratio of 17.42, a P/E/G ratio of 2.03 and a beta of 0.72. Getty Realty has a 1-year low of $26.91 and a 1-year high of $36.83. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $30.42 and a two-hundred day moving average price of $32.48.

Getty Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Thursday, December 24th will be given a $0.50 dividend. The ex-dividend date is Thursday, December 24th. This is a positive change from Getty Realty’s previous quarterly dividend of $0.4850. This represents a $2.00 dividend on an annualized basis and a yield of 7.0%. Getty Realty’s dividend payout ratio is 118.29%.

Wall Street Analysts Forecast Growth

GTY has been the topic of a number of research reports. KeyCorp reiterated an “overweight” rating and set a $36.00 target price on shares of Getty Realty in a research report on Thursday, September 24th. Royal Bank Of Canada raised their price target on shares of Getty Realty from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, July 24th. Citizens Jmp restated a “market outperform” rating and issued a $39.00 price objective on shares of Getty Realty in a research report on Tuesday, September 1st. Robert W. Baird boosted their price objective on shares of Getty Realty from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings downgraded Getty Realty from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 9th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.57.

About Getty Realty

Getty Realty Corp. is a real estate investment trust that owns, leases and develops convenience store, gasoline station and automotive service properties. Its portfolio also includes properties used for car washes, truck service, automotive parts and repairs, and other retail and service businesses.

The company generally leases its properties to operators under long-term, often triple-net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance.