Getty Realty’s (GTY) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Getty Realty (NYSE:GTY) in a research report released on Friday morning,Benzinga reports. JMP Securities currently has a $34.00 price objective on the real estate investment trust’s stock.

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

Getty Realty Price Performance

NYSE GTY opened at $29.13 on Friday. The company has a 50-day moving average price of $31.45 and a two-hundred day moving average price of $31.00. Getty Realty has a 52 week low of $25.70 and a 52 week high of $33.85. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 24.90 and a beta of 0.93. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.87.

Getty Realty (NYSE:GTY) last issued its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.28). The business had revenue of $51.47 million during the quarter, compared to the consensus estimate of $49.79 million. Getty Realty had a return on equity of 6.84% and a net margin of 32.97%. During the same period last year, the company earned $0.57 earnings per share. Analysts forecast that Getty Realty will post 2.23 EPS for the current year.

Getty Realty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 26th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.45%. This is an increase from Getty Realty’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, December 26th. Getty Realty’s dividend payout ratio is presently 160.68%.

Institutional Trading of Getty Realty

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp lifted its position in shares of Getty Realty by 4.6% during the 3rd quarter. State Street Corp now owns 3,920,520 shares of the real estate investment trust’s stock valued at $126,411,000 after acquiring an additional 172,631 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 16,252 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Getty Realty by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 777,330 shares of the real estate investment trust’s stock valued at $24,727,000 after purchasing an additional 11,742 shares during the period. Dimensional Fund Advisors LP increased its stake in Getty Realty by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 740,116 shares of the real estate investment trust’s stock worth $19,731,000 after purchasing an additional 28,575 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in Getty Realty by 38.1% during the 3rd quarter. Natixis Advisors LLC now owns 603,023 shares of the real estate investment trust’s stock worth $19,182,000 after buying an additional 166,345 shares during the period. 85.11% of the stock is currently owned by institutional investors.

About Getty Realty