Getty Realty Corporation (NYSE:GTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, October 19th.
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. “
Several other analysts also recently weighed in on GTY. BidaskClub upgraded shares of Getty Realty Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Canaccord Genuity assumed coverage on shares of Getty Realty Corporation in a research report on Tuesday, July 18th. They set a “buy” rating and a $32.00 price objective for the company. Bank of America Corporation assumed coverage on shares of Getty Realty Corporation in a research report on Wednesday, September 6th. They set a “buy” rating and a $30.00 price objective for the company. Finally, ValuEngine upgraded shares of Getty Realty Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $28.75.
Shares of Getty Realty Corporation (GTY) traded up 0.75% during mid-day trading on Thursday, reaching $28.29. 144,602 shares of the company’s stock traded hands. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 23.40 and a beta of 0.55. The stock has a 50-day moving average price of $28.90 and a 200 day moving average price of $26.53. Getty Realty Corporation has a 12-month low of $21.71 and a 12-month high of $29.89.
Getty Realty Corporation (NYSE:GTY) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.21). The company had revenue of $29.50 million for the quarter, compared to analysts’ expectations of $27.35 million. Getty Realty Corporation had a return on equity of 9.62% and a net margin of 36.66%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. Analysts anticipate that Getty Realty Corporation will post $1.30 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in Getty Realty Corporation by 78.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,330 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 2,350 shares during the period. Mason Street Advisors LLC increased its stake in Getty Realty Corporation by 9.0% in the 1st quarter. Mason Street Advisors LLC now owns 6,306 shares of the real estate investment trust’s stock valued at $159,000 after buying an additional 521 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Getty Realty Corporation by 6.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,368 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 370 shares during the period. Credit Agricole S A increased its stake in Getty Realty Corporation by 59.0% in the 1st quarter. Credit Agricole S A now owns 7,428 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 2,756 shares during the period. Finally, D.A. Davidson & CO. increased its stake in Getty Realty Corporation by 2.4% in the 2nd quarter. D.A. Davidson & CO. now owns 7,755 shares of the real estate investment trust’s stock valued at $194,000 after buying an additional 180 shares during the period. 52.38% of the stock is currently owned by institutional investors and hedge funds.
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 June 30, 2017, the Company’s 825 properties were located in 26 states across the United States and Washington, District of Columbia.
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