Getty Realty (NYSE:GTY) Upgraded by Bank of America to Buy

Getty Realty (NYSE:GTY) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Monday, Benzinga reports. The firm presently has a $34.00 target price on the real estate investment trust’s stock, up from their prior target price of $31.00. Bank of America‘s target price would indicate a potential upside of 6.85% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on GTY. JMP Securities raised their price target on Getty Realty from $31.50 to $33.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on shares of Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $32.50.

Getty Realty Stock Up 0.5 %

Shares of GTY opened at $31.82 on Monday. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.88. The company has a 50-day moving average price of $31.49 and a two-hundred day moving average price of $29.16. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 27.20 and a beta of 0.92. Getty Realty has a 12 month low of $25.70 and a 12 month high of $32.87.

Getty Realty (NYSE:GTY) last released its quarterly earnings data 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 company had revenue of $49.94 million for the quarter, compared to analyst estimates of $48.51 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. Equities analysts predict that Getty Realty will post 2.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Getty Realty during the 2nd quarter worth about $29,000. Point72 Hong Kong Ltd bought a new position in shares of Getty Realty during the second quarter worth about $30,000. Rothschild Investment LLC acquired a new stake in Getty Realty in the 2nd quarter valued at approximately $81,000. Point72 Asset Management L.P. bought a new stake in Getty Realty in the 2nd quarter valued at approximately $162,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Getty Realty by 23.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,121 shares of the real estate investment trust’s stock worth $195,000 after acquiring an additional 1,362 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

About Getty Realty