Getty Realty (NYSE:GTY) Announces Earnings Results

Getty Realty (NYSE:GTY) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.64 EPS for the quarter, beating the consensus estimate of $0.35 by $0.29, Zacks reports. Getty Realty had a net margin of 42.74% and a return on equity of 9.27%. The business had revenue of $62.99 million during the quarter, compared to analysts’ expectations of $59.18 million.

Getty Realty Stock Performance

GTY traded down $0.63 on Wednesday, reaching $27.41. The stock had a trading volume of 541,385 shares, compared to its average volume of 536,074. Getty Realty has a 12-month low of $26.91 and a 12-month high of $36.83. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.95. The business’s 50-day moving average price is $30.62 and its two-hundred day moving average price is $32.55. The company has a market cap of $1.70 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 2.05 and a beta of 0.72.

Getty Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Thursday, December 24th will be given a dividend of $0.50 per share. This is a boost from Getty Realty’s previous quarterly dividend of $0.4850. This represents a $2.00 annualized dividend and a yield of 7.3%. The ex-dividend date is Thursday, December 24th. Getty Realty’s dividend payout ratio (DPR) is 118.29%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GTY shares. Robert W. Baird lifted their price objective on Getty Realty from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Huntington began coverage on Getty Realty in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $37.00 target price on the stock. Deutsche Bank Aktiengesellschaft set a $39.00 target price on Getty Realty in a report on Wednesday, September 23rd. Citigroup reiterated a “market outperform” rating on shares of Getty Realty in a research report on Wednesday, September 23rd. Finally, KeyCorp reissued an “overweight” rating and issued a $36.00 price target on shares of Getty Realty in a report on Thursday, September 24th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.57.

Getty Realty Company Profile

Getty Realty Corp. is a real estate investment trust that owns, leases and develops convenience store, gasoline station and automotive service properties. Its portfolio also includes properties used for car washes, truck service, automotive parts and repairs, and other retail and service businesses.

The company generally leases its properties to operators under long-term, often triple-net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance.