Getty Realty (NYSE:GTY) Releases Quarterly Earnings Results, Misses Estimates By $0.28 EPS

by · The Markets Daily

Getty Realty (NYSE:GTY – Get Free Report) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.28), Yahoo Finance reports. Getty Realty had a return on equity of 6.98% and a net margin of 33.49%. The business had revenue of $51.47 million for the quarter, compared to analysts’ expectations of $49.79 million. During the same quarter in the prior year, the company posted $0.57 EPS. Getty Realty updated its FY 2024 guidance to 2.320-2.330 EPS.

Getty Realty Price Performance

NYSE GTY traded down $0.39 during trading hours on Friday, hitting $32.23. 153,034 shares of the company’s stock traded hands, compared to its average volume of 288,703. The company has a market capitalization of $1.74 billion, a PE ratio of 27.55 and a beta of 0.92. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.22 and a quick ratio of 3.22. Getty Realty has a 52-week low of $25.70 and a 52-week high of $33.23. The firm’s 50-day moving average is $31.67 and its 200-day moving average is $29.32.

Getty Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th will be paid a $0.47 dividend. This is an increase from Getty Realty’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend is Thursday, December 26th. Getty Realty’s dividend payout ratio (DPR) is currently 160.68%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GTY shares. JPMorgan Chase & Co. increased their target price on Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Bank of America upgraded shares of Getty Realty from a “neutral” rating to a “buy” rating and lifted their target price for the company from $31.00 to $34.00 in a research report on Monday. Finally, JMP Securities upped their price target on shares of Getty Realty from $31.50 to $33.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Getty Realty presently has a consensus rating of “Hold” and an average price target of $32.50.

View Our Latest Analysis on GTY

Getty Realty Company Profile

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