Analysts Set Getty Realty Corporation (NYSE:GTY) Price Target at $31.60

Shares of Getty Realty Corporation (NYSE:GTY) have received a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $31.60.

Several research firms recently issued reports on GTY. Royal Bank Of Canada increased their target price on shares of Getty Realty from $30.00 to $33.00 and gave the stock a “sector perform” rating in a report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Getty Realty in a research note on Thursday, January 22nd.

Hedge Funds Weigh In On Getty Realty

Several large investors have recently made changes to their positions in GTY. Ameritas Investment Partners Inc. grew its position in shares of Getty Realty by 7.2% during the second quarter. Ameritas Investment Partners Inc. now owns 5,300 shares of the real estate investment trust’s stock worth $146,000 after purchasing an additional 356 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Getty Realty by 26.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,724 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 360 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Getty Realty by 3.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,160 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Getty Realty by 36.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,572 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 418 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Getty Realty by 1.2% during the third quarter. Teacher Retirement System of Texas now owns 37,714 shares of the real estate investment trust’s stock valued at $1,012,000 after buying an additional 450 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Getty Realty Trading Down 0.0%

NYSE:GTY opened at $31.80 on Wednesday. Getty Realty has a one year low of $25.39 and a one year high of $34.02. The business has a fifty day moving average price of $29.52 and a 200-day moving average price of $28.39. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 2.38 and a beta of 0.84. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.20 and a quick ratio of 2.20.

Getty Realty (NYSE:GTY) last released its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. The business had revenue of $60.55 million during the quarter, compared to analyst estimates of $55.94 million. Getty Realty had a return on equity of 7.86% and a net margin of 35.72%.The company’s quarterly revenue was up 14.2% compared to the same quarter last year. Sell-side analysts forecast that Getty Realty will post 2.29 EPS for the current year.

Getty Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 26th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Thursday, March 26th. Getty Realty’s dividend payout ratio is presently 144.78%.

Getty Realty Company Profile

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company’s portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.