Getty Realty Corporation (NYSE:GTY) Announces Dividend Increase - $0.49 Per Share

Getty Realty Corporation (NYSE:GTY - Get Free Report) declared a quarterly dividend on Tuesday, October 21st. Shareholders of record on Friday, December 26th will be given a dividend of 0.485 per share by the real estate investment trust on Thursday, January 8th. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Friday, December 26th. This is a 3.2% increase from Getty Realty's previous quarterly dividend of $0.47.5 Best REIT Alternatives for Passive Real Estate IncomeGetty Realty has a dividend payout ratio of 140.3% meaning 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 $2.34 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 80.3%. Getty Realty Stock Up 1.4%Getty Realty stock opened at $27.85 on Wednesday. Getty Realty has a fifty-two week low of $25.39 and a fifty-two week high of $33.85. The firm has a market capitalization of $1.58 billion, a PE ratio of 24.13, a P/E/G ratio of 1.98 and a beta of 0.82. The company's 50-day moving average is $27.58 and its 200-day moving average is $28.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.98 and a quick ratio of 1.98. Look To REITs For Reliable Yield Even In Recessionary EnvironmentGetty Realty (NYSE:GTY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). The business had revenue of $51.31 million for the quarter, compared to the consensus estimate of $51.59 million. Getty Realty had a return on equity of 6.87% and a net margin of 31.62%. Sell-side analysts anticipate that Getty Realty will post 2.29 earnings per share for the current year. Institutional Inflows and OutflowsA number of institutional investors and hedge funds have recently made changes to their positions in GTY. Advisors Asset Management Inc. acquired a new stake in shares of Getty Realty in the first quarter valued at approximately $31,000. EverSource Wealth Advisors LLC grew its position in Getty Realty by 3,996.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,188 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 1,159 shares during the last quarter. US Bancorp DE grew its holdings in shares of Getty Realty by 52.4% during the 1st quarter. US Bancorp DE now owns 1,093 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 376 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Getty Realty by 288.6% during the third quarter. Farther Finance Advisors LLC now owns 1,364 shares of the real estate investment trust's stock worth $37,000 after buying an additional 1,013 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Getty Realty by 111.3% during the second quarter. Signaturefd LLC now owns 1,386 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 730 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock. Getty Realty Company Profile (Get Free Report)Read MoreFive stocks we like better than Getty Realty3 Dividend Kings To ConsiderWhere 3M’s Q3 Report Says the Stock Price Is HeadingWhat to Know About Investing in Penny StocksMETA's Next Big Test: Previewing Its Fast-Approaching Q3 EarningsSpecial Purpose Acquisition Company (SPAC) What You Need to Know Beware The Death Cross: 3 Stocks Triggering This Spooky SignalThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Getty Realty Right Now?Before you consider Getty Realty, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Getty Realty wasn't on the list.While Getty Realty currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here