Getty Realty Corp. (NYSE:GTY – Get Rating) declared a quarterly dividend on Tuesday, April 26th, Zacks reports. Shareholders of record on Thursday, June 23rd will be given a dividend of 0.41 per share by the real estate investment trust on Thursday, July 7th. This represents a $1.64 annualized dividend and a yield of 6.04%. The ex-dividend date of this dividend is Wednesday, June 22nd.
Getty Realty has raised its dividend by an average of 6.5% annually over the last three years and has raised its dividend every year for the last 9 years. Getty Realty has a payout ratio of 142.6% 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 $2.06 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 79.6%.
NYSE GTY opened at $27.16 on Thursday. The stock has a market capitalization of $1.27 billion, a PE ratio of 19.97 and a beta of 0.87. The business has a 50 day simple moving average of $28.14 and a two-hundred day simple moving average of $29.93. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.96 and a quick ratio of 1.96. Getty Realty has a 1-year low of $26.79 and a 1-year high of $34.21.
Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Getty Realty by 2.4% during the 4th quarter. BlackRock Inc. now owns 7,173,877 shares of the real estate investment trust’s stock worth $230,209,000 after acquiring an additional 169,602 shares during the last quarter. State Street Corp lifted its stake in shares of Getty Realty by 7.9% during the 4th quarter. State Street Corp now owns 2,231,120 shares of the real estate investment trust’s stock worth $72,501,000 after acquiring an additional 164,249 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Getty Realty by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 806,554 shares of the real estate investment trust’s stock worth $25,882,000 after acquiring an additional 8,118 shares during the last quarter. Norges Bank bought a new stake in shares of Getty Realty during the 4th quarter worth approximately $11,765,000. Finally, Legal & General Group Plc lifted its stake in shares of Getty Realty by 2.2% during the 4th quarter. Legal & General Group Plc now owns 341,786 shares of the real estate investment trust’s stock worth $10,968,000 after acquiring an additional 7,375 shares during the last quarter. 70.14% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on GTY. Zacks Investment Research upgraded Getty Realty from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th. StockNews.com began coverage on Getty Realty in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Bank of America cut Getty Realty from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $34.00 to $31.00 in a report on Thursday, January 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Getty Realty presently has an average rating of “Hold” and an average target price of $33.60.
Getty Realty Company Profile (Get Rating)
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