Getty Realty Corporation (NYSE:GTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, May 19th.
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. “
Separately, J P Morgan Chase & Co raised their target price on Getty Realty Corporation from $16.00 to $20.00 and gave the company an “underweight” rating in a report on Monday, April 3rd.
Getty Realty Corporation (NYSE GTY) traded down 1.78% during midday trading on Friday, reaching $25.90. 247,815 shares of the company traded hands. The company has a market cap of $896.37 million, a price-to-earnings ratio of 22.08 and a beta of 0.64. The company has a 50-day moving average price of $25.51 and a 200-day moving average price of $25.57. Getty Realty Corporation has a 12-month low of $20.24 and a 12-month high of $26.71.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 22nd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, June 20th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.32%. Getty Realty Corporation’s dividend payout ratio is presently 94.92%.
Several hedge funds have recently modified their holdings of the stock. Martingale Asset Management L P increased its stake in shares of Getty Realty Corporation by 10.4% in the fourth quarter. Martingale Asset Management L P now owns 174,690 shares of the real estate investment trust’s stock worth $4,453,000 after buying an additional 16,408 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Getty Realty Corporation by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 371,004 shares of the real estate investment trust’s stock worth $9,457,000 after buying an additional 1,321 shares during the last quarter. State Street Corp increased its stake in shares of Getty Realty Corporation by 9.5% in the fourth quarter. State Street Corp now owns 659,073 shares of the real estate investment trust’s stock worth $16,802,000 after buying an additional 57,109 shares during the last quarter. Comerica Bank increased its stake in shares of Getty Realty Corporation by 1.9% in the fourth quarter. Comerica Bank now owns 27,957 shares of the real estate investment trust’s stock worth $722,000 after buying an additional 512 shares during the last quarter. Finally, Sapphire Star Partners LP acquired a new stake in shares of Getty Realty Corporation during the fourth quarter worth approximately $204,000. 59.93% of the stock is owned by institutional investors.
Getty Realty Corporation Company Profile
Getty Realty Corp. is a real estate investment trust (REIT). The Company specializes in the ownership, leasing and financing of convenience store and gasoline station properties. As of December 31, 2016, the Company’s 829 properties were located in 23 states across the United States and Washington, District of Columbia.
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