Getty Realty (NYSE:GTY) Stock Rating Upgraded by Bank of America

Getty Realty (NYSE:GTY) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Monday, Marketbeat.com reports. The brokerage presently has a $34.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $31.00. Bank of America‘s price target indicates a potential upside of 5.62% from the stock’s current price.

Several other analysts also recently issued reports on GTY. JPMorgan Chase & Co. upped their price objective on Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. JMP Securities upped their target price on Getty Realty from $31.50 to $33.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Getty Realty has an average rating of “Hold” and a consensus price target of $32.50.

Getty Realty Stock Up 0.1 %

Shares of NYSE:GTY opened at $32.19 on Monday. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.88. Getty Realty has a 52-week low of $25.70 and a 52-week high of $32.87. The stock’s fifty day simple moving average is $31.56 and its 200-day simple moving average is $29.24. The company has a market capitalization of $1.74 billion, a P/E ratio of 27.51 and a beta of 0.92.

Getty Realty (NYSE:GTY) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.27). Getty Realty had a net margin of 33.49% and a return on equity of 6.98%. The company had revenue of $49.94 million during the quarter, compared to analysts’ expectations of $48.51 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. As a group, equities research analysts forecast that Getty Realty will post 2.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Getty Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Getty Realty by 3.4% during the first quarter. Vanguard Group Inc. now owns 7,768,393 shares of the real estate investment trust’s stock worth $212,466,000 after acquiring an additional 252,254 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Getty Realty by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 740,116 shares of the real estate investment trust’s stock worth $19,731,000 after buying an additional 28,575 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Getty Realty by 9.8% in the second quarter. Bank of New York Mellon Corp now owns 601,341 shares of the real estate investment trust’s stock worth $16,032,000 after buying an additional 53,906 shares during the period. ProShare Advisors LLC boosted its position in shares of Getty Realty by 11.7% in the first quarter. ProShare Advisors LLC now owns 289,385 shares of the real estate investment trust’s stock worth $7,915,000 after buying an additional 30,393 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Getty Realty by 12.1% in the second quarter. Envestnet Asset Management Inc. now owns 258,154 shares of the real estate investment trust’s stock worth $6,882,000 after buying an additional 27,902 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Getty Realty Company Profile