Getty Realty Corporation Announces Quarterly Dividend of $0.48 (NYSE:GTY)

Getty Realty Corporation (NYSE:GTY) announced a quarterly dividend on Tuesday, July 21st. Shareholders of record on Thursday, September 24th will be paid a dividend of 0.485 per share by the real estate investment trust on Thursday, October 8th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Thursday, September 24th.

Getty Realty has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Getty Realty has a payout ratio of 144.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Getty Realty to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 77.6%.

Getty Realty Trading Up 1.2%

Getty Realty stock opened at $36.55 on Wednesday. Getty Realty has a 1 year low of $25.39 and a 1 year high of $36.67. The firm’s 50-day moving average is $33.58 and its 200-day moving average is $32.46. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.24 and a current ratio of 2.24. The company has a market cap of $2.21 billion, a P/E ratio of 24.05, a PEG ratio of 2.98 and a beta of 0.72.

Getty Realty (NYSE:GTY) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. The business had revenue of $57.84 million during the quarter, compared to the consensus estimate of $58.41 million. Getty Realty had a net margin of 40.06% and a return on equity of 8.76%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, equities analysts expect that Getty Realty will post 2.42 earnings per share for the current year.

Institutional Trading of Getty Realty

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in Getty Realty by 26.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,724 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 360 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Getty Realty by 3.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,160 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Getty Realty by 36.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,572 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 418 shares in the last quarter. Chatham Capital Group Inc. lifted its position in shares of Getty Realty by 0.8% during the 4th quarter. Chatham Capital Group Inc. now owns 60,052 shares of the real estate investment trust’s stock valued at $1,644,000 after acquiring an additional 465 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Getty Realty by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,441 shares of the real estate investment trust’s stock valued at $703,000 after acquiring an additional 548 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors.

Getty Realty Company Profile

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company’s portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.