Getty Realty Corporation (GTY) Upgraded by Zacks Investment Research to Buy

Getty Realty Corporation (NYSE:GTY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, May 12th. The brokerage presently has a $28.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price points to a potential upside of 8.11% from the stock’s current price.

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 note on Monday, April 3rd.

Shares of Getty Realty Corporation (NYSE:GTY) traded down 1.78% during mid-day trading on Friday, hitting $25.90. The stock had a trading volume of 247,815 shares. The firm has a 50 day moving average price of $25.51 and a 200 day moving average price of $25.57. Getty Realty Corporation has a 52-week low of $20.24 and a 52-week high of $26.71. The firm has a market cap of $896.37 million, a PE ratio of 22.08 and a beta of 0.64.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 22nd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Tuesday, June 20th. Getty Realty Corporation’s payout ratio is 94.92%.

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A number of hedge funds have recently modified their holdings of GTY. Vanguard Group Inc. boosted its stake in shares of Getty Realty Corporation by 2.3% in the first quarter. Vanguard Group Inc. now owns 4,573,925 shares of the real estate investment trust’s stock worth $115,582,000 after buying an additional 103,383 shares during the last quarter. BlackRock Inc. raised its stake in shares of Getty Realty Corporation 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 period. BlackRock Fund Advisors raised its stake in shares of Getty Realty Corporation 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 period. LSV Asset Management raised its stake in shares of Getty Realty Corporation by 3.2% in the first quarter. LSV Asset Management now owns 1,271,755 shares of the real estate investment trust’s stock worth $32,137,000 after buying an additional 38,982 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Getty Realty Corporation 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 period. Hedge funds and other institutional investors own 59.93% of the company’s stock.

Getty Realty Corporation Company Profile

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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