Getty Realty Boosts Dividend by 4.9%

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Getty Realty Intrinsic Value – Getty Realty ($NYSE:GTY) is a real estate investment trust that specializes in the ownership, leasing and financing of properties used for convenience stores, gasoline stations, and automotive service centers. Getty Realty announced a quarterly dividend of $0.43 per share, a 4.9% increase from the prior dividend of $0.41. The dividend is payable on January 5 to shareholders of record on December 22, with an ex-dividend date of December 21.

This marks the company’s seventh consecutive year of dividend increases. “We are very pleased to announce our seventh consecutive year of dividend increases,” said Christopher J. Constant, Getty Realty’s President and CEO. “Our strong financial performance and disciplined capital allocation strategy have positioned us to continue to grow our business and create value for our shareholders.”

Dividends

Getty Realty is a publicly traded real estate investment trust that owns, operates and finances properties across the United States. Getty Realty’s dividend yield for the fiscal year ending December 31, 2020 was 5.3%. The company has announced that it will issue a dividend per share of 1.62 USD for the fiscal year ending December 31, 2022. This is an increase of 4.9% over the previous year’s dividend.

Getty Realty’s dividend yields from 2020 to 2022 are 5.3%, 5.15%, and 5.44%. The company’s three-year average dividend yield is 5.3%. If you are looking for dividend stocks, you may want to add Getty Realty to your list of considerations.

Stock Price

This marks the fourth consecutive year that Getty Realty has increased its dividend. Getty Realty is the largest publicly traded real estate investment trust specializing in the ownership, leasing, and financing of convenience stores and gas stations across the United States. The company’s shares have performed well so far in 2020, despite the challenges posed by the coronavirus pandemic. Looking ahead, Getty Realty appears to be well-positioned to continue growing its dividend at a healthy pace.

The company has a strong balance sheet, with plenty of cash on hand and no debt maturing until 2022. Moreover, Getty Realty’s portfolio is largely immune to the current economic downturn, since most of its tenants are essential businesses that are still operating during the pandemic.

VI Analysis – Getty Realty Intrinsic Value Calculator

GETTY REALTY‘s fundamentals reflect its long term potential, and the intrinsic value of GETTY REALTY shares is around $31.2, calculated by the VI Line. The company is currently trading at $29.9, which is a fair price that is undervalued by 4%.

VI Peers

The company’s portfolio consists of 973 properties, totaling approximately 134 million square feet of leasable space. Getty Realty‘s competitors include Primaris REIT, CT Real Estate Investment Trust, and Choice Properties Real Estate Investment Trust.

– Primaris REIT ($TSX:PMZ.UN)

Primaris REIT is a Canadian real estate investment trust that owns and operates a portfolio of office, retail, and industrial properties across Canada. As of 2022, the company has a market capitalization of 1.39 billion Canadian dollars. The company’s properties are located in major urban markets in Canada, including Toronto, Montreal, Vancouver, and Calgary. Primaris REIT’s strategy is focused on creating long-term value for its shareholders through the ownership and operation of high-quality properties and by providing superior service to its tenants.

– CT Real Estate Investment Trust ($TSX:CRT.UN)

H&R REIT is a real estate investment trust that owns, operates, and develops a portfolio of properties in the United States and Canada. The company’s portfolio includes office, retail, residential, industrial, and hotel properties. As of December 31, 2020, H&R REIT’s portfolio consisted of 97 properties with a total value of $13.6 billion.

– Choice Properties Real Estate Investment Trust ($TSX:CHP.UN)

Choice Properties Real Estate Investment Trust is a real estate investment trust that owns, operates, and develops a portfolio of retail and commercial properties in Canada. As of December 31, 2020, the company’s portfolio comprised 1,168 properties, including 993 retail properties, 168 office properties, and seven industrial properties.

Summary

Getty Realty is a publicly traded real estate investment trust that owns, operates and leases properties across the United States.