Getty Realty (NYSE:GTY) Earns Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Getty Realty (NYSE:GTY) in a research note issued to investors on Friday,Benzinga reports. JMP Securities currently has a $34.00 target price on the real estate investment trust’s stock.

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

Getty Realty Stock Down 1.4 %

GTY stock opened at $29.13 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.44 and a quick ratio of 2.44. The company’s 50 day simple moving average is $31.45 and its 200-day simple moving average is $30.94. Getty Realty has a 12 month low of $25.70 and a 12 month high of $33.85. The firm has a market capitalization of $1.60 billion, a PE ratio of 24.90 and a beta of 0.93.

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). Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. The company had revenue of $51.47 million for the quarter, compared to analyst estimates of $49.79 million. During the same quarter last year, the company posted $0.57 EPS. Equities analysts expect that Getty Realty will post 2.23 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

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

Institutional Investors Weigh In On Getty Realty

A number of institutional investors have recently bought and sold shares of GTY. GAMMA Investing LLC boosted its holdings in shares of Getty Realty by 66.2% in the 4th 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 last quarter. JPMorgan Chase & Co. boosted its holdings in Getty Realty by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 207,173 shares of the real estate investment trust’s stock valued at $6,590,000 after acquiring an additional 4,243 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Getty Realty in the third quarter valued at $140,000. Geode Capital Management LLC grew its position in Getty Realty by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,279,650 shares of the real estate investment trust’s stock valued at $40,713,000 after acquiring an additional 16,252 shares during the period. Finally, Barclays PLC increased its stake in Getty Realty by 409.6% during the third quarter. Barclays PLC now owns 103,121 shares of the real estate investment trust’s stock worth $3,281,000 after acquiring an additional 82,887 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

About Getty Realty