Getty Realty (NYSE:GTY) Rating Increased to Buy at Zacks Investment Research

Getty Realty (NYSE:GTYGet 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.

GTY stock traded down $0.62 during mid-day trading on Thursday, hitting $27.08. 132,727 shares of the stock were exchanged, compared to its average volume of 266,503. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.91 and a quick ratio of 2.91. The business has a fifty day moving average price of $27.57 and a 200 day moving average price of $28.95. Getty Realty has a 12 month low of $24.66 and a 12 month high of $34.21. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.43 and a beta of 0.85.

Getty Realty (NYSE:GTYGet 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)

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