Getty Realty Corp. (GTY) to Issue Quarterly Dividend of $0.45 on October 10th

Posted by Thomas Dobrow on Jul 25th, 2024

Getty Realty Corp. (NYSE:GTY – Get Free Report) declared a quarterly dividend on Tuesday, July 23rd, Wall Street Journal reports. Shareholders of record on Thursday, September 26th will be given a dividend of 0.45 per share by the real estate investment trust on Thursday, October 10th. This represents a $1.80 annualized dividend and a yield of 5.86%. The ex-dividend date is Thursday, September 26th.

Getty Realty has raised its dividend by an average of 5.1% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Getty Realty has a payout ratio of 142.9% 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 $2.37 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 75.9%.

Getty Realty Stock Performance

Shares of NYSE GTY opened at $30.73 on Thursday. The company has a market cap of $1.66 billion, a PE ratio of 26.26 and a beta of 0.90. Getty Realty has a 12 month low of $25.70 and a 12 month high of $34.38. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.37 and a quick ratio of 3.37. The company has a 50-day simple moving average of $27.66 and a 200-day simple moving average of $27.43.

Getty Realty (NYSE:GTY – Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.27). The firm had revenue of $48.97 million for the quarter, compared to analysts’ expectations of $46.63 million. Getty Realty had a return on equity of 6.80% and a net margin of 32.74%. During the same quarter last year, the firm earned $0.56 earnings per share. On average, equities analysts anticipate that Getty Realty will post 2.31 earnings per share for the current year.