Getty Realty (NYSE:GTY) Reaches New 12-Month High – What’s Next?

Getty Realty Corp. (NYSE:GTY)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $32.96 and last traded at $32.91, with a volume of 9450 shares. The stock had previously closed at $32.26.

Wall Street Analyst Weigh In

Several brokerages recently commented on GTY. JMP Securities upped their price target on shares of Getty Realty from $31.50 to $33.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Bank of America raised Getty Realty from a “neutral” rating to a “buy” rating and raised their price target for the stock from $31.00 to $34.00 in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Getty Realty presently has a consensus rating of “Hold” and a consensus price target of $32.50.

Getty Realty Stock Performance

The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $1.74 billion, a PE ratio of 27.55 and a beta of 0.92. The firm’s 50-day simple moving average is $31.67 and its 200-day simple moving average is $29.32.

Getty Realty (NYSE:GTY) last announced its quarterly earnings results 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). The firm had revenue of $51.47 million during the quarter, compared to analysts’ expectations of $49.79 million. Getty Realty had a net margin of 33.49% and a return on equity of 6.98%. During the same quarter in the previous year, the firm posted $0.57 EPS. On average, research analysts predict that Getty Realty Corp. will post 2.22 earnings per share for the current year.

Getty Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $1.88 annualized dividend and a dividend yield of 5.83%. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45. Getty Realty’s dividend payout ratio (DPR) is currently 160.68%.

Institutional Trading of Getty Realty

Hedge funds have recently added to or reduced their stakes in the business. abrdn plc raised its holdings in shares of Getty Realty by 10.6% in the 3rd quarter. abrdn plc now owns 9,717 shares of the real estate investment trust’s stock valued at $309,000 after purchasing an additional 928 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Getty Realty by 34.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,990 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 513 shares in the last quarter. Pensionfund DSM Netherlands raised its stake in Getty Realty by 9.4% in the third quarter. Pensionfund DSM Netherlands now owns 58,000 shares of the real estate investment trust’s stock worth $1,845,000 after buying an additional 5,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Getty Realty during the second quarter worth $29,000. Finally, Point72 Asset Management L.P. bought a new stake in Getty Realty during the 2nd quarter valued at $162,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

About Getty Realty