Getty Realty (NYSE:GTY) Receives Market Outperform Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Getty Realty (NYSE:GTY) in a research note published on Friday morning,Benzinga reports. They currently have a $34.00 target price on the real estate investment trust’s stock.

Several other analysts have also recently commented on GTY. JPMorgan Chase & Co. raised their price target on shares of Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Bank of America raised shares of Getty Realty from a “neutral” rating to a “buy” rating and lifted their target price for the company from $31.00 to $34.00 in a research note on Monday, October 21st. Finally, KeyCorp upgraded shares of Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 price target on the stock in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Getty Realty Price Performance

GTY opened at $29.13 on Friday. The firm has a market capitalization of $1.60 billion, a P/E ratio of 24.90 and a beta of 0.93. The stock has a fifty day moving average of $31.45 and a 200-day moving average of $31.00. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.87. Getty Realty has a 12-month low of $25.70 and a 12-month high of $33.85.

Getty Realty (NYSE:GTY) last announced its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.28). Getty Realty had a return on equity of 6.84% and a net margin of 32.97%. The business had revenue of $51.47 million during the quarter, compared to analysts’ expectations of $49.79 million. During the same period in the prior year, the company posted $0.57 earnings per share. Equities analysts forecast that Getty Realty will post 2.23 EPS for the current fiscal year.

Getty Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 26th were issued a $0.47 dividend. The ex-dividend date was Thursday, December 26th. This represents a $1.88 dividend on an annualized basis and a yield of 6.45%. This is an increase from Getty Realty’s previous quarterly dividend of $0.45. Getty Realty’s dividend payout ratio is currently 160.68%.

Institutional Investors Weigh In On Getty Realty

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its position in Getty Realty by 66.2% during the fourth quarter. GAMMA Investing LLC now owns 1,486 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 592 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Getty Realty by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 207,173 shares of the real estate investment trust’s stock valued at $6,590,000 after acquiring an additional 4,243 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Getty Realty during the 3rd quarter valued at about $140,000. Geode Capital Management LLC raised its stake in shares of Getty Realty by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,279,650 shares of the real estate investment trust’s stock valued at $40,713,000 after acquiring an additional 16,252 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Getty Realty by 409.6% in the 3rd quarter. Barclays PLC now owns 103,121 shares of the real estate investment trust’s stock worth $3,281,000 after purchasing an additional 82,887 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Getty Realty Company Profile