Zacks Investment Research upgraded shares of Getty Realty (NYSE:GTY) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning.
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, KeyCorp started coverage on Getty Realty in a research note on Tuesday, December 12th. They issued a sector weight rating on the stock. 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 company. The company has an average rating of Buy and a consensus price target of $28.75.
Shares of Getty Realty (GTY) traded down $0.11 during mid-day trading on Wednesday, hitting $25.58. The company’s stock had a trading volume of 113,143 shares, compared to its average volume of 165,293. Getty Realty has a one year low of $22.91 and a one year high of $29.89. The stock has a market cap of $1,020.00, a P/E ratio of 22.05, a P/E/G ratio of 6.03 and a beta of 0.54. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.58.
Getty Realty (NYSE:GTY) last announced its earnings results 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). Getty Realty had a net margin of 36.66% and a return on equity of 9.62%. The company had revenue of $29.50 million during the quarter, compared to analysts’ expectations of $27.35 million. During the same quarter last year, the business posted $0.47 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. research analysts expect that Getty Realty will post 1.95 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Thursday, December 21st were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.00%. This is an increase from Getty Realty’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 20th. Getty Realty’s payout ratio is presently 110.34%.
A number of institutional investors and hedge funds have recently bought and sold shares of GTY. JPMorgan Chase & Co. boosted its position in Getty Realty by 89.7% during the third quarter. JPMorgan Chase & Co. now owns 608,510 shares of the real estate investment trust’s stock worth $17,525,000 after purchasing an additional 287,813 shares in the last quarter. Boston Partners acquired a new position in shares of Getty Realty in the third quarter worth $7,282,000. Renaissance Technologies LLC raised its holdings in shares of Getty Realty by 14.9% in the second quarter. Renaissance Technologies LLC now owns 1,136,312 shares of the real estate investment trust’s stock worth $28,521,000 after acquiring an additional 147,600 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Getty Realty in the third quarter worth $3,199,000. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Getty Realty by 85.3% in the third quarter. Asset Management One Co. Ltd. now owns 182,289 shares of the real estate investment trust’s stock worth $5,249,000 after acquiring an additional 83,897 shares during the last quarter. Institutional investors own 61.16% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2018/01/11/getty-realty-gty-upgraded-by-zacks-investment-research-to-hold.html.
Getty Realty 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 June 30, 2017, the Company’s 825 properties were located in 26 states across the United States and Washington, District of Columbia.
Receive News & Ratings for Getty Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Getty Realty and related companies with MarketBeat.com's FREE daily email newsletter.