Getty Realty Corp. (GTY) To Go Ex-Dividend on September 19th
Getty Realty Corp. (NYSE:GTY) announced a quarterly dividend on Thursday, July 26th, Wall Street Journal reports. Shareholders of record on Thursday, September 20th will be paid a dividend of 0.32 per share by the real estate investment trust on Thursday, October 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Wednesday, September 19th.
Getty Realty has raised its dividend payment by an average of 11.9% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Getty Realty has a dividend payout ratio of 71.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Getty Realty to earn $1.88 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 68.1%.
Shares of GTY stock opened at $29.04 on Friday. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 9.32 and a beta of 0.41. Getty Realty has a fifty-two week low of $22.68 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.46 and a current ratio of 1.46.
A number of brokerages have recently commented on GTY. Zacks Investment Research cut Getty Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. ValuEngine upgraded Getty Realty from a “hold” rating to a “buy” rating in a research note on Wednesday, July 11th. BTIG Research began coverage on Getty Realty in a research note on Tuesday, July 24th. They issued a “buy” rating and a $31.00 price target for the company. LADENBURG THALM/SH SH began coverage on Getty Realty in a research note on Friday, June 1st. They issued a “buy” rating and a $30.00 price target for the company. Finally, Bank of America increased their price target on Getty Realty from $28.50 to $30.00 and gave the company a “buy” rating in a research note on Monday, July 16th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $30.75.
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