Getty Realty Corporation (NYSE:GTY) Stock Has Consensus Price Target of $36.57 According to Brokerages

Getty Realty Corporation (NYSE:GTY) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $36.57.

Several research analysts have recently weighed in on the company. KeyCorp reissued an “overweight” rating and issued a $36.00 price objective on shares of Getty Realty in a research report on Thursday, September 24th. Huntington began coverage on Getty Realty in a research report on Wednesday, July 15th. They set an “outperform” rating and a $37.00 target price on the stock. Robert W. Baird raised their target price on Getty Realty from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft set a $39.00 target price on Getty Realty in a report on Wednesday, September 23rd. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $39.00 target price on shares of Getty Realty in a report on Tuesday, September 1st.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GTY. Avalon Trust Co purchased a new position in shares of Getty Realty during the first quarter valued at approximately $38,000. Global Retirement Partners LLC purchased a new stake in Getty Realty in the 2nd quarter valued at $43,000. Optiver Holding B.V. raised its position in Getty Realty by 380.2% in the 1st quarter. Optiver Holding B.V. now owns 1,556 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 1,232 shares during the last quarter. Nykredit A S purchased a new stake in Getty Realty in the 2nd quarter valued at $52,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Getty Realty in the 2nd quarter valued at $67,000. 85.11% of the stock is owned by institutional investors.

Getty Realty Stock Performance

NYSE GTY opened at $27.55 on Monday. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 2.07 and a beta of 0.72. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.94. Getty Realty has a twelve month low of $26.91 and a twelve month high of $36.83. The stock has a fifty day simple moving average of $30.02 and a 200 day simple moving average of $32.11.

Getty Realty (NYSE:GTY) last announced its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $62.99 million for the quarter, compared to analysts’ expectations of $59.18 million. Getty Realty had a return on equity of 8.93% and a net margin of 42.37%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. Sell-side analysts expect that Getty Realty will post 2.45 EPS for the current year.

Getty Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Thursday, December 24th will be issued a $0.50 dividend. The ex-dividend date is Thursday, December 24th. This is an increase from Getty Realty’s previous quarterly dividend of $0.4850. This represents a $2.00 annualized dividend and a yield of 7.3%. Getty Realty’s dividend payout ratio is currently 118.29%.

About Getty Realty

Getty Realty Corp. is a real estate investment trust that owns, leases and develops convenience store, gasoline station and automotive service properties. Its portfolio also includes properties used for car washes, truck service, automotive parts and repairs, and other retail and service businesses.

The company generally leases its properties to operators under long-term, often triple-net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance.