Getty Realty Corp. Announces Quarterly Dividend of $0.47 (NYSE:GTY)

Getty Realty Corp. (NYSE:GTY) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Shareholders of record on Thursday, March 27th will be paid a dividend of 0.47 per share by the real estate investment trust on Thursday, April 10th. This represents a $1.88 annualized dividend and a yield of 6.18%.

Getty Realty has raised its dividend payment by an average of 4.8% annually over the last three years. Getty Realty has a dividend payout ratio of 139.3% 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 Trading Down 1.0 %

GTY opened at $30.45 on Wednesday. The company has a market cap of $1.68 billion, a P/E ratio of 26.01 and a beta of 0.93. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.87. The company’s 50 day moving average is $30.85 and its 200-day moving average is $31.34. Getty Realty has a 1-year low of $25.70 and a 1-year high of $33.85.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GTY. JMP Securities reaffirmed a “market outperform” rating and set a $34.00 target price on shares of Getty Realty in a research note on Friday, January 10th. Bank of America raised Getty Realty from a “neutral” rating to a “buy” rating and raised their price objective for the company from $31.00 to $34.00 in a report on Monday, October 21st. Finally, KeyCorp raised Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 target price for the company in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Getty Realty has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Getty Realty Company Profile