Getty Realty (NYSE:GTY) Sets New 52-Week High – Here’s Why

Shares of Getty Realty Corporation (NYSE:GTY) reached a new 52-week high on Tuesday . The stock traded as high as $34.08 and last traded at $34.0550, with a volume of 78007 shares traded. The stock had previously closed at $33.70.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group lifted their target price on Getty Realty from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, March 9th. Royal Bank Of Canada boosted their target price on shares of Getty Realty from $30.00 to $33.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Getty Realty in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.20.

Getty Realty Price Performance

The stock has a market capitalization of $2.03 billion, a PE ratio of 25.33, a P/E/G ratio of 2.46 and a beta of 0.82. The firm’s 50 day simple moving average is $31.16 and its 200 day simple moving average is $28.92. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.20 and a quick ratio of 2.20.

Getty Realty (NYSE:GTY) last posted its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. Getty Realty had a net margin of 35.72% and a return on equity of 7.86%. The business had revenue of $60.55 million during the quarter, compared to the consensus estimate of $55.94 million. Getty Realty’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities analysts forecast that Getty Realty Corporation will post 2.29 EPS for the current fiscal year.

Getty Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 26th will be issued a $0.485 dividend. The ex-dividend date is Thursday, March 26th. This represents a $1.94 annualized dividend and a dividend yield of 5.7%. Getty Realty’s dividend payout ratio (DPR) is currently 144.78%.

Institutional Investors Weigh In On Getty Realty

Several institutional investors have recently added to or reduced their stakes in GTY. Aster Capital Management DIFC Ltd purchased a new position in shares of Getty Realty in the third quarter valued at about $27,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Getty Realty during the fourth quarter worth about $29,000. Advisors Asset Management Inc. bought a new stake in shares of Getty Realty in the first quarter worth about $31,000. EverSource Wealth Advisors LLC increased its holdings in Getty Realty by 3,996.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,188 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,159 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Getty Realty by 288.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,364 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 1,013 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Getty Realty Company Profile

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company’s portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.