Getty Realty (GTY) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Getty Realty (NYSE:GTY) from a hold rating to a sell rating in a report released on Wednesday.

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. “

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Other research analysts also recently issued research reports about the company. ValuEngine raised Getty Realty from a hold rating to a buy rating in a research note on Thursday, March 1st. KeyCorp initiated coverage on Getty Realty in a research note on Tuesday, December 12th. They issued a sector weight rating for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Getty Realty currently has an average rating of Buy and a consensus target price of $31.67.

Getty Realty stock opened at $25.35 on Wednesday. Getty Realty has a 1 year low of $22.68 and a 1 year high of $29.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market capitalization of $1,011.42, a PE ratio of 15.27, a PEG ratio of 4.02 and a beta of 0.48.

Getty Realty (NYSE:GTY) last released its quarterly earnings data on Wednesday, February 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.12). Getty Realty had a net margin of 39.27% and a return on equity of 9.41%. The firm had revenue of $28.16 million during the quarter, compared to analyst estimates of $27.57 million. During the same period in the prior year, the company earned $0.43 EPS. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. sell-side analysts predict that Getty Realty will post 1.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 5th. Investors of record on Thursday, March 22nd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 5.05%. The ex-dividend date was Wednesday, March 21st. Getty Realty’s payout ratio is presently 77.11%.

A number of hedge funds have recently made changes to their positions in GTY. SG Americas Securities LLC bought a new stake in Getty Realty in the third quarter valued at approximately $158,000. Piedmont Investment Advisors LLC bought a new stake in Getty Realty in the third quarter valued at approximately $204,000. AMP Capital Investors Ltd bought a new stake in Getty Realty in the fourth quarter valued at approximately $251,000. Cubist Systematic Strategies LLC bought a new stake in Getty Realty in the third quarter valued at approximately $255,000. Finally, Teacher Retirement System of Texas bought a new stake in Getty Realty in the fourth quarter valued at approximately $313,000. Institutional investors and hedge funds own 65.09% of the company’s stock.

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About Getty Realty

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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