Getty Realty (NYSE:GTY) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Getty Realty (NYSE:GTY) in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a $34.00 target price on the real estate investment trust’s stock.

A number of other research firms have also issued reports on GTY. KeyCorp raised Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 price target on the stock in a report on Tuesday, December 17th. Bank of America raised Getty Realty from a “neutral” rating to a “buy” rating and boosted their target price for the company from $31.00 to $34.00 in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. increased their price target on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Getty Realty Price Performance

Shares of NYSE GTY opened at $29.13 on Friday. The stock has a market cap of $1.60 billion, a P/E ratio of 24.90 and a beta of 0.93. Getty Realty has a twelve month low of $25.70 and a twelve month high of $33.85. The stock has a 50 day moving average of $31.45 and a two-hundred day moving average of $30.94. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.87.

Getty Realty (NYSE:GTY) last announced its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.28). The business had revenue of $51.47 million during the quarter, compared to analyst estimates of $49.79 million. Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. During the same period in the previous year, the firm earned $0.57 earnings per share. On average, research analysts forecast that Getty Realty will post 2.23 earnings per share for the current year.

Getty Realty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.45%. This is an increase from Getty Realty’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, December 26th. Getty Realty’s dividend payout ratio is 160.68%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GTY. Huntington National Bank lifted its holdings in Getty Realty by 21.6% in the third quarter. Huntington National Bank now owns 2,484 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 441 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Getty Realty by 34.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,990 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 513 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Getty Realty by 66.2% in the fourth quarter. GAMMA Investing LLC now owns 1,486 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 592 shares during the period. Arizona State Retirement System increased its holdings in Getty Realty by 4.3% in the second quarter. Arizona State Retirement System now owns 14,352 shares of the real estate investment trust’s stock valued at $383,000 after buying an additional 593 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Getty Realty by 45.8% during the 3rd quarter. KBC Group NV now owns 2,175 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 683 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

About Getty Realty