Getty Realty (NYSE:GTY) Given New $33.00 Price Target at JMP Securities

Getty Realty (NYSE:GTY) had its target price raised by JMP Securities from $31.50 to $33.00 in a report published on Thursday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the real estate investment trust’s stock.

Separately, StockNews.com upgraded Getty Realty from a sell rating to a hold rating in a report on Monday, April 22nd.

Getty Realty Stock Performance

NYSE:GTY opened at $32.05 on Thursday. The firm has a market capitalization of $1.73 billion, a P/E ratio of 27.17 and a beta of 0.90. Getty Realty has a twelve month low of $25.70 and a twelve month high of $34.38. The company has a fifty day moving average of $27.72 and a 200-day moving average of $27.46. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.84.

Getty Realty (NYSE:GTY) last posted its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.27). Getty Realty had a return on equity of 6.99% and a net margin of 33.49%. The business had revenue of $49.94 million for the quarter, compared to the consensus estimate of $48.51 million. During the same period in the previous year, the firm earned $0.56 earnings per share. As a group, sell-side analysts anticipate that Getty Realty will post 2.31 EPS for the current year.

Getty Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.62%. The ex-dividend date is Thursday, September 26th. Getty Realty’s dividend payout ratio is presently 153.85%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Getty Realty by 3.4% in the first quarter. Vanguard Group Inc. now owns 7,768,393 shares of the real estate investment trust’s stock worth $212,466,000 after purchasing an additional 252,254 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Getty Realty by 8.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 729,032 shares of the real estate investment trust’s stock valued at $21,302,000 after buying an additional 54,040 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Getty Realty by 6.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 691,157 shares of the real estate investment trust’s stock worth $20,196,000 after acquiring an additional 43,073 shares during the last quarter. Bank of New York Mellon Corp grew its position in Getty Realty by 9.8% in the second quarter. Bank of New York Mellon Corp now owns 601,341 shares of the real estate investment trust’s stock worth $16,032,000 after acquiring an additional 53,906 shares in the last quarter. Finally, Natixis Advisors L.P. increased its stake in Getty Realty by 42.5% in the fourth quarter. Natixis Advisors L.P. now owns 507,337 shares of the real estate investment trust’s stock valued at $14,824,000 after acquiring an additional 151,256 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

About Getty Realty