Getty Realty Corporation (NYSE:GTY) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Getty Realty Corporation (NYSE:GTY) from a hold rating to a buy rating in a report published on Wednesday.

Several other brokerages have also recently commented on GTY. Zacks Investment Research cut Getty Realty Corporation from a buy rating to a hold rating in a research report on Wednesday, May 31st. ValuEngine cut Getty Realty Corporation from a buy rating to a hold rating in a research report on Tuesday, May 23rd. Finally, Canaccord Genuity initiated coverage on Getty Realty Corporation in a research report on Tuesday, July 18th. They set a buy rating and a $32.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $27.00.

Shares of Getty Realty Corporation (NYSE:GTY) traded up 0.88% during mid-day trading on Wednesday, reaching $26.29. The company had a trading volume of 195,990 shares. Getty Realty Corporation has a 1-year low of $21.71 and a 1-year high of $26.71. The stock’s 50-day moving average price is $24.88 and its 200 day moving average price is $25.49. The company has a market capitalization of $1.04 billion, a PE ratio of 21.75 and a beta of 0.54.

Getty Realty Corporation (NYSE:GTY) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Getty Realty Corporation had a return on equity of 10.28% and a net margin of 36.50%. The firm had revenue of $24.83 million during the quarter, compared to analysts’ expectations of $25.20 million. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts expect that Getty Realty Corporation will post $1.26 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Thursday, September 21st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 4.26%. The ex-dividend date is Wednesday, September 20th. Getty Realty Corporation’s payout ratio is currently 92.56%.

A number of hedge funds have recently modified their holdings of GTY. State Street Corp boosted its stake in shares of Getty Realty Corporation by 9.5% in the fourth quarter. State Street Corp now owns 659,073 shares of the real estate investment trust’s stock valued at $16,802,000 after buying an additional 57,109 shares during the last quarter. Norges Bank bought a new stake in shares of Getty Realty Corporation during the fourth quarter valued at about $6,707,000. Guggenheim Capital LLC boosted its stake in shares of Getty Realty Corporation by 365.0% in the fourth quarter. Guggenheim Capital LLC now owns 60,400 shares of the real estate investment trust’s stock valued at $1,540,000 after buying an additional 47,410 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Getty Realty Corporation by 4.5% in the first quarter. Asset Management One Co. Ltd. now owns 95,500 shares of the real estate investment trust’s stock valued at $2,409,000 after buying an additional 4,077 shares during the last quarter. Finally, TD Asset Management Inc. boosted its stake in shares of Getty Realty Corporation by 8.6% in the first quarter. TD Asset Management Inc. now owns 107,312 shares of the real estate investment trust’s stock valued at $2,712,000 after buying an additional 8,500 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

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.