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

Getty Realty Corp. (NYSE:GTY) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Investors 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 dividend on an annualized basis and a yield of 6.11%.

Getty Realty has raised its dividend payment by an average of 4.8% annually over the last three years. Getty Realty has a payout ratio of 139.3% meaning 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 $2.29 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 Stock Performance

Getty Realty stock traded down $0.23 during trading hours on Tuesday, hitting $30.76. 399,645 shares of the stock traded hands, compared to its average volume of 330,083. The firm’s 50 day moving average price is $30.85 and its 200-day moving average price is $31.34. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.44 and a quick ratio of 2.44. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 26.29 and a beta of 0.93. Getty Realty has a 1 year low of $25.70 and a 1 year high of $33.85.

Analyst Ratings Changes

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

Getty Realty Company Profile