Getty Realty (NYSE:GTY) Hits New 1-Year High – Here’s What Happened

Getty Realty Corp. (NYSE:GTY)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $32.96 and last traded at $32.91, with a volume of 9450 shares trading hands. The stock had previously closed at $32.26.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JMP Securities upped their price objective on Getty Realty from $31.50 to $33.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Bank of America upgraded shares of Getty Realty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $31.00 to $34.00 in a report on Monday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $32.50.

Getty Realty Stock Up 0.7 %

The company has a market cap of $1.75 billion, a PE ratio of 27.57 and a beta of 0.92. The company has a fifty day moving average of $31.60 and a two-hundred day moving average of $29.26. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.22 and a current ratio of 3.22.

Getty Realty (NYSE:GTY) last announced its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.27). Getty Realty had a net margin of 33.49% and a return on equity of 6.98%. The firm had revenue of $49.94 million during the quarter, compared to analysts’ expectations of $48.51 million. During the same period in the prior year, the company posted $0.56 EPS. As a group, analysts anticipate that Getty Realty Corp. will post 2.22 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 26th will be given a $0.47 dividend. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date is Thursday, December 26th. Getty Realty’s dividend payout ratio is 153.85%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Getty Realty during the second quarter worth $29,000. Point72 Hong Kong Ltd bought a new stake in Getty Realty during the 2nd quarter valued at about $30,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Getty Realty by 34.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,990 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 513 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Getty Realty during the second quarter worth approximately $81,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Getty Realty during the second quarter worth approximately $162,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Getty Realty Company Profile