Getty Realty (NYSE:GTY) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Getty Realty (NYSE:GTY) from a sell rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “Getty Realty Corp. is a real estate investment trust engaged in the ownership, leasing and financing of retail motor fuel and convenience store properties and petroleum distribution terminals in the United States. The company’s properties are leased or sublet to distributors and retailers engaged in the sale of gasoline and various motor fuel products, convenience store products, and automotive repair services. Getty’s properties are operated under a variety of brands including Getty, BP, Exxon, Mobil, Shell, Chevron, Valero, Fina and Aloha. It is also a marketer of heating oil in Pennsylvania and Maryland. Getty Realty Corp. is headquartered in Jericho, New York. “

Other equities analysts have also issued reports about the company. ValuEngine lowered Getty Realty from a buy rating to a hold rating in a research note on Friday, November 29th. JMP Securities reissued a hold rating on shares of Getty Realty in a research note on Tuesday, September 17th.

Shares of Getty Realty stock opened at $32.38 on Monday. The stock has a 50 day moving average of $32.75 and a 200 day moving average of $31.88. Getty Realty has a 12 month low of $28.93 and a 12 month high of $35.03. The firm has a market cap of $1.32 billion, a PE ratio of 18.74, a PEG ratio of 8.36 and a beta of 0.49. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Getty Realty (NYSE:GTY) last announced its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.17). Getty Realty had a net margin of 35.19% and a return on equity of 8.49%. The firm had revenue of $35.69 million for the quarter, compared to the consensus estimate of $32.01 million. As a group, equities research analysts forecast that Getty Realty will post 1.8 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.57%. This is a positive change from Getty Realty’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Tuesday, December 24th. Getty Realty’s dividend payout ratio (DPR) is presently 86.55%.

Several large investors have recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Getty Realty by 1.0% in the 3rd quarter. State Street Corp now owns 1,525,651 shares of the real estate investment trust’s stock valued at $49,440,000 after purchasing an additional 15,126 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Getty Realty by 1.6% in the 2nd quarter. Northern Trust Corp now owns 813,876 shares of the real estate investment trust’s stock valued at $25,035,000 after purchasing an additional 13,017 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Getty Realty by 19.9% in the 2nd quarter. Invesco Ltd. now owns 788,309 shares of the real estate investment trust’s stock valued at $24,249,000 after purchasing an additional 130,650 shares during the last quarter. Tributary Capital Management LLC bought a new stake in shares of Getty Realty in the 3rd quarter valued at approximately $12,599,000. Finally, Morgan Stanley lifted its stake in shares of Getty Realty by 67.0% in the 2nd quarter. Morgan Stanley now owns 357,171 shares of the real estate investment trust’s stock valued at $10,987,000 after purchasing an additional 143,264 shares during the last quarter. 63.92% of the stock is owned by institutional investors and hedge funds.

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