Getty Realty (NYSE:GTY) Releases Quarterly Earnings Results

Getty Realty (NYSE:GTY) announced its earnings results on Wednesday. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05, Zacks reports. The business had revenue of $62.99 million during the quarter, compared to analyst estimates of $59.18 million. Getty Realty had a net margin of 42.74% and a return on equity of 9.27%. Getty Realty’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 earnings per share.

Getty Realty Stock Performance

Shares of GTY stock opened at $27.41 on Thursday. The firm has a market capitalization of $1.70 billion, a PE ratio of 11.22, a P/E/G ratio of 2.07 and a beta of 0.72. The company has a 50 day moving average price of $30.51 and a 200-day moving average price of $32.51. Getty Realty has a 52 week low of $26.91 and a 52 week high of $36.83. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.95.

Getty Realty Increases Dividend

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

Wall Street Analysts Forecast Growth

GTY has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft set a $39.00 price objective on Getty Realty in a research note on Wednesday, September 23rd. Citizens Jmp reissued a “market outperform” rating and issued a $39.00 price target on shares of Getty Realty in a research note on Tuesday, September 1st. Royal Bank Of Canada increased their price objective on Getty Realty from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. KeyCorp reiterated an “overweight” rating and set a $36.00 target price on shares of Getty Realty in a report on Thursday, September 24th. Finally, Citigroup reiterated a “market outperform” rating on shares of Getty Realty in a research note on Wednesday, September 23rd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company 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.