Getty Realty (NYSE:GTY) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Getty Realty Corporation (NYSE:GTY) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $27.90 and traded as high as $29.23. Getty Realty shares last traded at $29.1240, with a volume of 380,661 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Janney Montgomery Scott assumed coverage on Getty Realty in a research note on Thursday, October 16th. They issued a “buy” rating and a $30.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Getty Realty in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.25.

Getty Realty Trading Down 0.2%

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 50-day moving average price of $28.45 and a two-hundred day moving average price of $27.90. The stock has a market cap of $1.68 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 2.69 and a beta of 0.85.

Getty Realty (NYSE:GTY) last posted its earnings results on Wednesday, October 22nd. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $55.59 million for the quarter, compared to the consensus estimate of $53.19 million. Getty Realty had a return on equity of 7.60% and a net margin of 34.76%. Sell-side analysts forecast that Getty Realty Corporation will post 2.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Getty Realty by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 8,386,280 shares of the real estate investment trust’s stock worth $225,004,000 after buying an additional 51,602 shares during the last quarter. State Street Corp lifted its holdings in shares of Getty Realty by 3.3% in the 2nd quarter. State Street Corp now owns 3,858,470 shares of the real estate investment trust’s stock valued at $108,315,000 after acquiring an additional 124,350 shares during the last quarter. Geode Capital Management LLC grew its position in Getty Realty by 3.3% in the second 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 in the last quarter. Millennium Management LLC increased its stake in Getty Realty by 42.3% during the third quarter. Millennium Management LLC now owns 1,142,413 shares of the real estate investment trust’s stock worth $30,651,000 after acquiring an additional 339,388 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Getty Realty by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 581,766 shares of the real estate investment trust’s stock worth $16,080,000 after acquiring an additional 18,426 shares during the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

About Getty Realty

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company’s portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.