Getty Realty (NYSE:GTY) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Getty Realty (NYSE:GTYGet Rating) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. They currently have $31.00 price objective on the real estate investment trust’s stock.

According to Zacks, “Getty Realty Corp. is a real estate investment trust engaged in the ownership, leasing and financing of retail motor fuel and convenience store properties and petroleum distribution terminals in the United States. The company’s properties are leased or sublet to distributors and retailers engaged in the sale of gasoline and various motor fuel products, convenience store products, and automotive repair services. Getty’s properties are operated under a variety of brands including Getty, BP, Exxon, Mobil, Shell, Chevron, Valero, Fina and Aloha. It is also a marketer of heating oil in Pennsylvania and Maryland. Getty Realty Corp. is headquartered in Jericho, New York. “

Several other equities research analysts have also commented on the stock. Bank of America lowered shares of Getty Realty from a neutral rating to an underperform rating and cut their price target for the stock from $34.00 to $31.00 in a research note on Thursday, January 20th. JMP Securities began coverage on Getty Realty in a report on Tuesday, May 10th. They issued an outperform rating and a $32.00 target price for the company. Finally, StockNews.com upgraded Getty Realty from a hold rating to a buy rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Getty Realty presently has an average rating of Buy and an average target price of $31.80.

NYSE:GTY opened at $27.02 on Wednesday. The firm has a market capitalization of $1.26 billion, a PE ratio of 20.01 and a beta of 0.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.91 and a quick ratio of 2.91. The business’s fifty day moving average price is $27.78 and its 200 day moving average price is $29.50. Getty Realty has a 12 month low of $24.66 and a 12 month high of $34.21.

Getty Realty (NYSE:GTYGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.07). The business had revenue of $38.98 million during the quarter, compared to analysts’ expectations of $39.78 million. Getty Realty had a net margin of 40.45% and a return on equity of 8.85%. During the same quarter in the previous year, the company posted $0.47 EPS. As a group, equities analysts anticipate that Getty Realty will post 2.11 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 7th. Investors of record on Thursday, June 23rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 6.07%. The ex-dividend date is Wednesday, June 22nd. Getty Realty’s dividend payout ratio (DPR) is presently 121.48%.

A number of institutional investors have recently bought and sold shares of GTY. BlackRock Inc. grew its stake in shares of Getty Realty by 0.5% in the 1st quarter. BlackRock Inc. now owns 7,210,369 shares of the real estate investment trust’s stock valued at $206,361,000 after purchasing an additional 36,492 shares during the last quarter. Vanguard Group Inc. grew its position in Getty Realty by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 6,423,351 shares of the real estate investment trust’s stock valued at $183,836,000 after buying an additional 234,507 shares during the last quarter. State Street Corp increased its stake in Getty Realty by 17.6% in the 1st quarter. State Street Corp now owns 2,624,004 shares of the real estate investment trust’s stock valued at $76,123,000 after buying an additional 392,884 shares during the period. American Century Companies Inc. raised its position in Getty Realty by 16.1% during the 1st quarter. American Century Companies Inc. now owns 1,074,502 shares of the real estate investment trust’s stock worth $30,752,000 after buying an additional 149,247 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of Getty Realty by 2.3% in the 1st quarter. Brown Advisory Inc. now owns 929,428 shares of the real estate investment trust’s stock worth $26,666,000 after acquiring an additional 20,779 shares during the period. 71.77% of the stock is owned by institutional investors.

Getty Realty Company Profile (Get Rating)

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