Zacks Investment Research Lowers Getty Realty (NYSE:GTY) to Hold

Getty Realty (NYSE:GTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

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. “

Getty Realty stock traded up $0.26 during trading on Wednesday, hitting $32.19. The company’s stock had a trading volume of 130,686 shares, compared to its average volume of 195,004. The stock has a market capitalization of $1.43 billion, a PE ratio of 18.94 and a beta of 0.80. The stock has a fifty day moving average price of $31.82. Getty Realty has a 1-year low of $24.87 and a 1-year high of $34.21. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.24 and a quick ratio of 2.24.

Getty Realty (NYSE:GTY) last released its earnings results on Wednesday, April 28th. The real estate investment trust reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.11. The firm had revenue of $36.95 million during the quarter, compared to analyst estimates of $37.10 million. Getty Realty had a return on equity of 11.61% and a net margin of 49.99%. Equities research analysts forecast that Getty Realty will post 1.93 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in GTY. BlackRock Inc. increased its stake in Getty Realty by 4.2% during the first quarter. BlackRock Inc. now owns 6,746,698 shares of the real estate investment trust’s stock worth $191,066,000 after acquiring an additional 271,383 shares during the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new stake in Getty Realty during the first quarter worth about $252,000. Logan Capital Management Inc. acquired a new stake in Getty Realty during the first quarter worth about $76,000. Swiss National Bank increased its stake in Getty Realty by 3.4% during the first quarter. Swiss National Bank now owns 83,209 shares of the real estate investment trust’s stock worth $2,356,000 after acquiring an additional 2,700 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Getty Realty by 2.8% during the fourth quarter. JPMorgan Chase & Co. now owns 492,307 shares of the real estate investment trust’s stock worth $13,558,000 after acquiring an additional 13,487 shares during the last quarter. Hedge funds and other institutional investors own 66.81% of the company’s stock.

About Getty Realty

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