Getty Realty (NYSE:GTY) Price Target Raised to $33.00

Getty Realty (NYSE:GTY) had its target price upped by JPMorgan Chase & Co. from $31.00 to $33.00 in a report issued on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

Separately, JMP Securities lifted their price target on Getty Realty from $31.50 to $33.00 and gave the stock a market outperform rating in a report on Thursday, July 25th.

Getty Realty Price Performance

Getty Realty stock opened at $31.98 on Thursday. The company’s fifty day moving average price is $31.11 and its 200 day moving average price is $28.53. Getty Realty has a 1 year low of $25.70 and a 1 year high of $32.87. The stock has a market capitalization of $1.73 billion, a P/E ratio of 27.33 and a beta of 0.92. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.22 and a current ratio of 3.22.

Getty Realty (NYSE:GTY) last announced its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.27). Getty Realty had a return on equity of 6.98% and a net margin of 33.49%. The business had revenue of $49.94 million for the quarter, compared to analyst estimates of $48.51 million. During the same period last year, the firm earned $0.56 EPS. As a group, equities research analysts anticipate that Getty Realty will post 2.2 earnings per share for the current fiscal year.

Getty Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date is Thursday, September 26th. Getty Realty’s dividend payout ratio (DPR) is 153.85%.

Hedge Funds Weigh In On Getty Realty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GTY. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Getty Realty in the second quarter valued at approximately $29,000. Point72 Hong Kong Ltd purchased a new stake in shares of Getty Realty during the second quarter worth approximately $30,000. Rothschild Investment LLC purchased a new stake in shares of Getty Realty during the second quarter worth approximately $81,000. Quadrant Capital Group LLC raised its stake in shares of Getty Realty by 67.6% during the fourth quarter. Quadrant Capital Group LLC now owns 2,836 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 1,144 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC raised its stake in shares of Getty Realty by 33.8% during the first quarter. SYSTM Wealth Solutions LLC now owns 3,195 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 807 shares during the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

About Getty Realty