Getty Realty (NYSE:GTY) Coverage Initiated by Analysts at Huntington Sec

Huntington Sec initiated coverage on shares of Getty Realty (NYSE:GTY – Free Report) in a report published on Thursday,Zacks reports. The brokerage issued a strong-buy rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently weighed in on GTY. Royal Bank Of Canada boosted their price objective on Getty Realty from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Citigroup reaffirmed a “market outperform” rating on shares of Getty Realty in a research note on Wednesday, September 23rd. Weiss Ratings cut Getty Realty from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. Robert W. Baird boosted their target price on Getty Realty from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Finally, KeyCorp restated an “overweight” rating and set a $36.00 price target on shares of Getty Realty in a report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.57.

Read Our Latest Research Report on Getty Realty

Getty Realty Price Performance

GTY stock opened at $27.99 on Thursday. Getty Realty has a 52 week low of $26.91 and a 52 week high of $36.83. The firm has a market capitalization of $1.88 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. The company has a fifty day simple moving average of $29.81 and a two-hundred day simple moving average of $32.11. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.94.

Getty Realty (NYSE:GTY – Get Free Report) last announced its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $62.99 million for the quarter, compared to analysts’ expectations of $59.18 million. Getty Realty had a net margin of 42.37% and a return on equity of 8.93%. The business’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. Analysts anticipate that Getty Realty will post 2.45 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Thursday, December 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.1%. This is a boost from Getty Realty’s previous quarterly dividend of $0.4850. The ex-dividend date is Thursday, December 24th. Getty Realty’s dividend payout ratio (DPR) is presently 118.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund increased its position in shares of Getty Realty by 3.2% during the third quarter. Oregon Public Employees Retirement Fund now owns 13,060 shares of the real estate investment trust’s stock worth $369,000 after acquiring an additional 400 shares during the period. Bridge City Capital LLC boosted its holdings in shares of Getty Realty by 21.3% in the third quarter. Bridge City Capital LLC now owns 83,397 shares of the real estate investment trust’s stock valued at $2,355,000 after purchasing an additional 14,643 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Getty Realty by 6.1% in the third quarter. Asset Management One Co. Ltd. now owns 106,323 shares of the real estate investment trust’s stock valued at $3,003,000 after purchasing an additional 6,145 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Getty Realty in the third quarter valued at approximately $18,326,000. Finally, GAMMA Investing LLC grew its stake in Getty Realty by 63.3% in the third quarter. GAMMA Investing LLC now owns 14,678 shares of the real estate investment trust’s stock worth $415,000 after purchasing an additional 5,687 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

About Getty Realty

(Get Free Report)

Getty Realty Corp. is a real estate investment trust that owns, leases and develops convenience store, gasoline station and automotive service properties. Its portfolio also includes properties used for car washes, truck service, automotive parts and repairs, and other retail and service businesses.

The company generally leases its properties to operators under long-term, often triple-net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance.

Further Reading

Analyst Recommendations for Getty Realty (NYSE:GTY)

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