Getty Realty Corp. (NYSE:GTY) to Issue $0.45 Quarterly Dividend

Posted by KOP Source Staff on Jul 24th, 2024

Getty Realty Corp. (NYSE:GTY – Get Free Report) declared a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Stockholders of record on Thursday, September 26th will be paid a dividend of 0.45 per share by the real estate investment trust on Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a dividend 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 raised its dividend every year for the last 12 years. Getty Realty has a payout ratio of 142.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

GTY stock traded down $0.50 during trading hours on Wednesday, hitting $30.73. 208,600 shares of the stock traded hands, compared to its average volume of 266,972. The stock has a 50-day simple moving average of $27.61 and a 200 day simple moving average of $27.41. Getty Realty has a one year low of $25.70 and a one year high of $34.38. The company has a market cap of $1.66 billion, a P/E ratio of 26.55 and a beta of 0.90. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.84.

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