Getty Realty Corporation (NYSE:GTY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday, June 30th. The firm presently has a $29.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.58% from the company’s current price.
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. “
GTY has been the subject of a number of other research reports. ValuEngine raised shares of Getty Realty Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. J P Morgan Chase & Co boosted their target price on shares of Getty Realty Corporation from $16.00 to $20.00 and gave the company an “underweight” rating in a research note on Monday, April 3rd.
Shares of Getty Realty Corporation (NYSE GTY) traded down 0.08% during mid-day trading on Friday, reaching $25.76. The company’s stock had a trading volume of 374,520 shares. The stock has a market capitalization of $893.25 million, a price-to-earnings ratio of 21.29 and a beta of 0.53. Getty Realty Corporation has a 52 week low of $21.71 and a 52 week high of $26.71. The company’s 50-day moving average is $24.88 and its 200-day moving average is $25.49.
Getty Realty Corporation (NYSE:GTY) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Getty Realty Corporation had a net margin of 36.50% and a return on equity of 10.28%. The business had revenue of $24.83 million during the quarter, compared to the consensus estimate of $25.20 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts predict that Getty Realty Corporation will post $1.20 EPS for the current year.
Several hedge funds have recently modified their holdings of GTY. BlackRock Inc. raised its stake in Getty Realty Corporation by 10,055.3% in the first quarter. BlackRock Inc. now owns 3,960,359 shares of the real estate investment trust’s stock valued at $100,077,000 after buying an additional 3,921,361 shares in the last quarter. Norges Bank acquired a new position in shares of Getty Realty Corporation during the fourth quarter worth about $6,707,000. Bank of New York Mellon Corp boosted its position in shares of Getty Realty Corporation by 27.8% in the first quarter. Bank of New York Mellon Corp now owns 644,302 shares of the real estate investment trust’s stock worth $16,282,000 after buying an additional 140,190 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Getty Realty Corporation by 15.8% in the first quarter. Renaissance Technologies LLC now owns 988,712 shares of the real estate investment trust’s stock worth $24,985,000 after buying an additional 134,700 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Getty Realty Corporation by 2.3% in the first quarter. Vanguard Group Inc. now owns 4,573,925 shares of the real estate investment trust’s stock worth $115,582,000 after buying an additional 103,383 shares during the period. 53.08% of the stock is owned by institutional investors.
About Getty Realty Corporation
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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