Getty Realty’s (GTY) “Market Outperform” Rating Reiterated at JMP Securities

Getty Realty (NYSE:GTY)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a note issued to investors on Friday,Benzinga reports. They presently have a $34.00 target price on the real estate investment trust’s stock. JMP Securities’ target price indicates a potential upside of 17.08% from the company’s previous close.

GTY has been the subject of several other research reports. Bank of America raised shares of Getty Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $31.00 to $34.00 in a research note on Monday, October 21st. JPMorgan Chase & Co. upped their target price on shares of Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Finally, KeyCorp upgraded Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 price target on the stock in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Getty Realty Stock Performance

NYSE:GTY traded down $0.50 on Friday, reaching $29.04. 57,631 shares of the company’s stock were exchanged, compared to its average volume of 275,457. The stock has a fifty day simple moving average of $31.49 and a 200-day simple moving average of $30.92. Getty Realty has a 52 week low of $25.70 and a 52 week high of $33.85. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.44 and a quick ratio of 2.44. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 24.82 and a beta of 0.93.

Getty Realty (NYSE:GTY) last issued its 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). Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. The business had revenue of $51.47 million for the quarter, compared to the consensus estimate of $49.79 million. During the same period in the previous year, the firm earned $0.57 EPS. As a group, sell-side analysts predict that Getty Realty will post 2.23 earnings per share for the current year.

Institutional Investors Weigh In On Getty Realty

Several institutional investors have recently added to or reduced their stakes in GTY. Arizona State Retirement System grew its position in shares of Getty Realty by 4.3% in the 2nd quarter. Arizona State Retirement System now owns 14,352 shares of the real estate investment trust’s stock worth $383,000 after buying an additional 593 shares during the last quarter. American Century Companies Inc. boosted its holdings in Getty Realty by 8.3% in the second quarter. American Century Companies Inc. now owns 15,504 shares of the real estate investment trust’s stock valued at $413,000 after acquiring an additional 1,182 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Getty Realty by 12.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 258,154 shares of the real estate investment trust’s stock worth $6,882,000 after purchasing an additional 27,902 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Getty Realty by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 740,116 shares of the real estate investment trust’s stock worth $19,731,000 after purchasing an additional 28,575 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in shares of Getty Realty by 23.3% during the 2nd quarter. Hsbc Holdings PLC now owns 49,185 shares of the real estate investment trust’s stock valued at $1,309,000 after purchasing an additional 9,290 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Getty Realty Company Profile