KeyCorp Upgrades Getty Realty (NYSE:GTY) to “Overweight”

KeyCorp upgraded shares of Getty Realty (NYSE:GTY) from a sector weight rating to an overweight rating in a research note published on Tuesday morning, MarketBeat Ratings reports. The firm currently has $35.00 target price on the real estate investment trust’s stock.

Several other equities analysts have also weighed in on GTY. JPMorgan Chase & Co. raised their price objective on shares of Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Bank of America upgraded shares of Getty Realty from a “neutral” rating to a “buy” rating and raised their price target for the company from $31.00 to $34.00 in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Getty Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.75.

Getty Realty Trading Up 0.3 %

Shares of NYSE:GTY opened at $32.14 on Tuesday. Getty Realty has a 12-month low of $25.70 and a 12-month high of $33.85. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $1.77 billion, a P/E ratio of 27.47 and a beta of 0.92. The firm has a fifty day moving average of $32.03 and a two-hundred day moving average of $30.56.

Getty Realty (NYSE:GTY) last released 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). Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. The firm had revenue of $51.47 million for the quarter, compared to analyst estimates of $49.79 million. During the same period in the previous year, the business posted $0.57 EPS. On average, equities analysts expect that Getty Realty will post 2.23 EPS for the current fiscal year.

Getty Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 26th will be paid a $0.47 dividend. The ex-dividend date is Thursday, December 26th. 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 5.85%. Getty Realty’s dividend payout ratio (DPR) is presently 160.68%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of Getty Realty by 198.3% in the second quarter. SG Americas Securities LLC now owns 17,550 shares of the real estate investment trust’s stock worth $468,000 after purchasing an additional 11,666 shares during the period. Nisa Investment Advisors LLC increased its position in Getty Realty by 47.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 33,956 shares of the real estate investment trust’s stock worth $921,000 after buying an additional 10,877 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Getty Realty by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the real estate investment trust’s stock worth $659,000 after buying an additional 400 shares during the last quarter. Clear Creek Financial Management LLC boosted its position in shares of Getty Realty by 5.0% in the second quarter. Clear Creek Financial Management LLC now owns 7,915 shares of the real estate investment trust’s stock valued at $211,000 after acquiring an additional 375 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of 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 valued at $16,032,000 after acquiring an additional 53,906 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Getty Realty Company Profile