Getty Realty Corporation (NYSE:GTY) Given Average Rating of “Moderate Buy” by Analysts

Shares of Getty Realty Corporation (NYSE:GTY) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $31.80.

GTY has been the topic of several recent research reports. Wall Street Zen upgraded shares of Getty Realty from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings restated a “hold (c)” rating on shares of Getty Realty in a research report on Wednesday, October 8th. Janney Montgomery Scott started coverage on Getty Realty in a research note on Thursday, October 16th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, UBS Group boosted their target price on Getty Realty from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, August 15th.

Getty Realty Stock Down 2.0%

Shares of GTY opened at $27.78 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 2.49 and a beta of 0.84. Getty Realty has a 1 year low of $25.39 and a 1 year high of $32.64. The business’s 50 day simple moving average is $27.44 and its 200-day simple moving average is $27.95.

Getty Realty (NYSE:GTY) last announced its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Getty Realty had a net margin of 34.76% and a return on equity of 7.60%. The company had revenue of $55.59 million for the quarter, compared to analysts’ expectations of $53.19 million. Getty Realty has set its FY 2025 guidance at 2.420-2.430 EPS. As a group, equities analysts expect that Getty Realty will post 2.29 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Friday, December 26th will be paid a $0.485 dividend. This is an increase from Getty Realty’s previous quarterly dividend of $0.47. This represents a $1.94 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, December 26th. Getty Realty’s payout ratio is currently 146.88%.

Hedge Funds Weigh In On Getty Realty

Several hedge funds have recently added to or reduced their stakes in GTY. Vanguard Group Inc. lifted its stake in Getty Realty by 0.6% in the third quarter. Vanguard Group Inc. now owns 8,386,280 shares of the real estate investment trust’s stock worth $225,004,000 after purchasing an additional 51,602 shares during the last quarter. State Street Corp raised its holdings in shares of Getty Realty by 3.3% in the second quarter. State Street Corp now owns 3,858,470 shares of the real estate investment trust’s stock worth $108,315,000 after buying an additional 124,350 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Getty Realty by 1.1% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,770,092 shares of the real estate investment trust’s stock worth $117,551,000 after acquiring an additional 40,120 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Getty Realty by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,418,927 shares of the real estate investment trust’s stock worth $39,224,000 after acquiring an additional 44,766 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Getty Realty by 42.3% during the 3rd quarter. Millennium Management LLC now owns 1,142,413 shares of the real estate investment trust’s stock valued at $30,651,000 after acquiring an additional 339,388 shares during the period. 85.11% of the stock is currently owned by institutional investors.

About Getty Realty