JMP Securities Increases Getty Realty (NYSE:GTY) Price Target to $33.00

Getty Realty (NYSE:GTY) had its target price raised by JMP Securities from $31.50 to $33.00 in a research note released on Thursday, Benzinga reports. They currently have a market outperform rating on the real estate investment trust’s stock.

Separately, StockNews.com upgraded Getty Realty from a sell rating to a hold rating in a report on Monday, April 22nd.

Getty Realty Stock Down 0.3 %

Getty Realty stock opened at $31.68 on Thursday. The business has a fifty day moving average of $27.79 and a two-hundred day moving average of $27.45. The company has a quick ratio of 3.37, a current ratio of 3.22 and a debt-to-equity ratio of 0.88. The firm has a market cap of $1.71 billion, a P/E ratio of 27.08 and a beta of 0.90. Getty Realty has a twelve month low of $25.70 and a twelve month high of $34.38.

Getty Realty (NYSE:GTY) last posted its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.27). The company had revenue of $49.94 million for the quarter, compared to analysts’ expectations of $48.51 million. Getty Realty had a return on equity of 6.98% and a net margin of 33.49%. During the same quarter in the prior year, the company earned $0.56 EPS. On average, analysts forecast that Getty Realty will post 2.31 earnings per share for the current fiscal year.

Getty Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Thursday, September 26th. Getty Realty’s payout ratio is presently 153.85%.

Hedge Funds Weigh In On Getty Realty

A number of large investors have recently made changes to their positions in GTY. Lighthouse Investment Partners LLC acquired a new position in shares of Getty Realty during the fourth quarter worth $8,328,000. Norges Bank acquired a new position in shares of Getty Realty in the 4th quarter valued at $8,143,000. Vanguard Group Inc. increased its position in shares of Getty Realty by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 7,768,393 shares of the real estate investment trust’s stock valued at $212,466,000 after acquiring an additional 252,254 shares during the period. Natixis Advisors L.P. raised its stake in Getty Realty by 42.5% in the 4th quarter. Natixis Advisors L.P. now owns 507,337 shares of the real estate investment trust’s stock worth $14,824,000 after acquiring an additional 151,256 shares during the last quarter. Finally, Meritage Portfolio Management acquired a new stake in Getty Realty during the 1st quarter worth about $2,414,000. 85.11% of the stock is owned by institutional investors and hedge funds.

Getty Realty Company Profile