Getty Realty (NYSE:GTY – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The firm presently has a $31.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 14.48% from the stock’s previous close.
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 topic of a number of other research reports. JMP Securities initiated coverage on Getty Realty in a report on Tuesday, May 10th. They set an “outperform” rating and a $32.00 price target on the stock. StockNews.com downgraded Getty Realty from a “buy” rating to a “hold” rating in a report on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.80.
Getty Realty (NYSE:GTY – Get Rating) last released its earnings results on Wednesday, April 27th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.07). Getty Realty had a net margin of 40.45% and a return on equity of 8.85%. The company had revenue of $38.98 million during the quarter, compared to the consensus estimate of $39.78 million. During the same period last year, the firm posted $0.47 EPS. As a group, equities analysts forecast that Getty Realty will post 1.99 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. UMB Bank N A MO bought a new position in Getty Realty in the 4th quarter valued at approximately $25,000. Spirit of America Management Corp NY bought a new position in Getty Realty in the 4th quarter valued at approximately $32,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in Getty Realty by 226.8% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,062 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 737 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Getty Realty by 84.3% during the 1st quarter. Spire Wealth Management now owns 1,968 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 900 shares during the period. Finally, Penserra Capital Management LLC bought a new position in shares of Getty Realty during the 3rd quarter valued at $81,000. 71.77% of the stock is currently owned by institutional investors and hedge funds.
About Getty Realty (Get Rating)
- Get a free copy of the StockNews.com research report on Getty Realty (GTY)
- The Institutions Are Rotating Into Olli’s Bargain Outlet
- Inflation, An Economic Winter Is Approaching
- Would Netflix acquiring Roku be a positive for the stock?
- Microcap Oil-Dri Corporation Is A Buy For Income Investors
- Now’s The Time To Buy MongoDB (NASDAQ: MDB)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Getty Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Getty Realty and related companies with MarketBeat.com's FREE daily email newsletter.