Zacks Investment Research upgraded shares of Getty Realty Corp. (NYSE:GTY) from a hold rating to a buy rating in a research note published on Friday. Zacks Investment Research currently has $28.00 price target on the real estate investment trust’s stock.
According to Zacks, “Getty Realty Corp. is a real estate investment trust engaged in the ownership, leasing and financing of retail motor fuel and convenience store properties and petroleum distribution terminals in the United States. The company’s properties are leased or sublet to distributors and retailers engaged in the sale of gasoline and various motor fuel products, convenience store products, and automotive repair services. Getty’s properties are operated under a variety of brands including Getty, BP, Exxon, Mobil, Shell, Chevron, Valero, Fina and Aloha. It is also a marketer of heating oil in Pennsylvania and Maryland. Getty Realty Corp. is headquartered in Jericho, New York. “
Separately, JPMorgan Chase & Co. boosted their target price on shares of Getty Realty Corp. from $16.00 to $20.00 and gave the stock an underweight rating in a research report on Monday, April 3rd.
Getty Realty Corp. (NYSE:GTY) opened at 24.99 on Friday. The stock has a 50 day moving average price of $25.77 and a 200 day moving average price of $25.18. The company has a market cap of $864.88 million, a PE ratio of 21.30 and a beta of 0.51. Getty Realty Corp. has a one year low of $19.44 and a one year high of $26.71.
Getty Realty Corp. (NYSE:GTY) last posted its earnings results on Wednesday, March 1st. The real estate investment trust reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The company had revenue of $29.70 million during the quarter, compared to the consensus estimate of $24 million. Getty Realty Corp. had a net margin of 43.33% and a return on equity of 12.35%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. On average, equities analysts anticipate that Getty Realty Corp. will post $1.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 22nd will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date is Tuesday, June 20th. Getty Realty Corp.’s payout ratio is 75.68%.
A number of large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Getty Realty Corp. by 10,055.3% in the first quarter. BlackRock Inc. now owns 3,960,359 shares of the real estate investment trust’s stock worth $100,077,000 after buying an additional 3,921,361 shares during the last quarter. Norges Bank purchased a new stake in shares of Getty Realty Corp. during the fourth quarter worth about $6,707,000. BlackRock Fund Advisors increased its stake in shares of Getty Realty Corp. by 10.3% in the third quarter. BlackRock Fund Advisors now owns 1,919,138 shares of the real estate investment trust’s stock worth $45,925,000 after buying an additional 179,467 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Getty Realty Corp. by 27.8% in the first quarter. Bank of New York Mellon Corp now owns 644,302 shares of the real estate investment trust’s stock worth $16,282,000 after buying an additional 140,190 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Getty Realty Corp. by 15.8% in the first quarter. Renaissance Technologies LLC now owns 988,712 shares of the real estate investment trust’s stock worth $24,985,000 after buying an additional 134,700 shares during the last quarter. 56.64% of the stock is owned by institutional investors and hedge funds.
About Getty Realty Corp.
Getty Realty Corp. is a real estate investment trust (REIT). The Company specializes in the ownership, leasing and financing of convenience store and gasoline station properties. As of December 31, 2016, the Company’s 829 properties were located in 23 states across the United States and Washington, District of Columbia.
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