Getty Realty Corporation (GTY) Rating Lowered to Hold at Zacks Investment Research

Getty Realty Corporation (NYSE:GTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, May 11th.

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, J P Morgan Chase & Co increased their price objective on shares of Getty Realty Corporation from $16.00 to $20.00 and gave the stock an “underweight” rating in a research report on Monday, April 3rd.

Getty Realty Corporation (GTY) opened at 25.90 on Thursday. The company has a market capitalization of $896.37 million, a PE ratio of 22.08 and a beta of 0.64. Getty Realty Corporation has a 12 month low of $20.24 and a 12 month high of $26.71. The stock’s 50 day moving average is $25.51 and its 200-day moving average is $25.57.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 22nd will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Tuesday, June 20th. Getty Realty Corporation’s dividend payout ratio (DPR) is presently 94.92%.

COPYRIGHT VIOLATION NOTICE: This story was first published by Community Financial News and is owned by of Community Financial News. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.com-unik.info/2017/06/17/getty-realty-corp-gty-downgraded-to-hold-at-zacks-investment-research-updated-updated-updated.html.

Several large investors have recently bought and sold shares of GTY. AQR Capital Management LLC boosted its stake in Getty Realty Corporation by 32.9% in the fourth quarter. AQR Capital Management LLC now owns 147,578 shares of the real estate investment trust’s stock valued at $3,762,000 after buying an additional 36,567 shares during the period. State Street Corp boosted its stake in Getty Realty Corporation by 9.5% in the fourth quarter. State Street Corp now owns 659,073 shares of the real estate investment trust’s stock valued at $16,802,000 after buying an additional 57,109 shares during the period. Renaissance Technologies LLC boosted its stake in Getty Realty Corporation by 9.4% in the fourth quarter. Renaissance Technologies LLC now owns 854,012 shares of the real estate investment trust’s stock valued at $21,769,000 after buying an additional 73,626 shares during the period. Envestnet Asset Management Inc. boosted its stake in Getty Realty Corporation by 22.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 8,840 shares of the real estate investment trust’s stock valued at $225,000 after buying an additional 1,597 shares during the period. Finally, Allianz Asset Management AG boosted its stake in Getty Realty Corporation by 73.7% in the fourth quarter. Allianz Asset Management AG now owns 52,854 shares of the real estate investment trust’s stock valued at $1,347,000 after buying an additional 22,430 shares during the period. Institutional investors own 59.93% of the company’s stock.

About Getty Realty Corporation

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.

Get a free copy of the Zacks research report on Getty Realty Corporation (GTY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about Getty Realty Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Getty Realty Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit