Getty Realty (NYSE:GTY) Sets New 12-Month High – Should You Buy?

Getty Realty Corporation (NYSE:GTY)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $34.25 and last traded at $34.3150, with a volume of 8295 shares. The stock had previously closed at $34.01.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GTY shares. Royal Bank Of Canada boosted their price target on shares of Getty Realty from $30.00 to $33.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Getty Realty in a research note on Thursday, January 22nd. Finally, UBS Group boosted their price target on shares of Getty Realty from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, March 9th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Getty Realty presently has an average rating of “Hold” and an average price target of $32.20.

Getty Realty Trading Up 0.4%

The company has a debt-to-equity ratio of 0.93, a current ratio of 2.20 and a quick ratio of 2.20. The business’s 50 day moving average price is $32.68 and its 200-day moving average price is $29.66. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 2.49 and a beta of 0.81.

Getty Realty (NYSE:GTY) last issued its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Getty Realty had a net margin of 35.72% and a return on equity of 7.86%. The business had revenue of $60.55 million for the quarter, compared to analyst estimates of $55.94 million. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Equities analysts forecast that Getty Realty Corporation will post 2.29 EPS for the current fiscal year.

Getty Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Thursday, March 26th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $1.94 dividend on an annualized basis and a yield of 5.7%. Getty Realty’s payout ratio is currently 144.78%.

Institutional Trading of Getty Realty

A number of institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC boosted its holdings in Getty Realty by 17.8% during the fourth quarter. Hsbc Holdings PLC now owns 92,297 shares of the real estate investment trust’s stock worth $2,525,000 after buying an additional 13,956 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Getty Realty by 1.0% during the fourth quarter. Corient Private Wealth LLC now owns 97,703 shares of the real estate investment trust’s stock worth $2,672,000 after buying an additional 989 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Getty Realty during the fourth quarter worth about $429,000. VARCOV Co. purchased a new stake in Getty Realty during the fourth quarter worth about $733,000. Finally, Voloridge Investment Management LLC boosted its holdings in Getty Realty by 16.1% during the fourth quarter. Voloridge Investment Management LLC now owns 191,577 shares of the real estate investment trust’s stock worth $5,243,000 after buying an additional 26,564 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

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.