JMP Securities reaffirmed their market outperform rating on shares of Getty Realty (NYSE:GTY - Free Report) in a research report sent to investors on Friday morning,Benzinga reports. JMP Securities currently has a $34.00 price objective on the real estate investment trust's stock.
Other equities analysts have also issued reports about the company. Bank of America upgraded Getty Realty from a "neutral" rating to a "buy" rating and upped their target price for the company from $31.00 to $34.00 in a research note on Monday, October 21st. JPMorgan Chase & Co. lifted 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, 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.com, Getty Realty has a consensus rating of "Moderate Buy" and an average target price of $34.00.
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Getty Realty Stock Performance
GTY traded down $0.52 during trading on Friday, hitting $29.02. 180,480 shares of the stock were exchanged, compared to its average volume of 296,210. The stock has a fifty day moving average price of $31.49 and a two-hundred day moving average price of $30.92. Getty Realty has a 1-year low of $25.70 and a 1-year high of $33.85. The firm has a market capitalization of $1.60 billion, a P/E ratio of 24.80 and a beta of 0.93. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.87.
Getty Realty (NYSE:GTY - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share 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 during the quarter, compared to analysts' expectations of $49.79 million. During the same quarter last year, the firm earned $0.57 earnings per share. As a group, sell-side analysts predict that Getty Realty will post 2.23 earnings per share for the current year.
Getty Realty Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 26th were paid a dividend of $0.47 per share. This is a boost from Getty Realty's previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.48%. The ex-dividend date of this dividend was Thursday, December 26th. Getty Realty's dividend payout ratio is presently 160.68%.
Institutional Trading of Getty Realty
Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Getty Realty by 66.2% in the fourth quarter. GAMMA Investing LLC now owns 1,486 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 592 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Getty Realty by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 207,173 shares of the real estate investment trust's stock valued at $6,590,000 after purchasing an additional 4,243 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Getty Realty during the 3rd quarter valued at about $140,000. Geode Capital Management LLC boosted its stake in shares of Getty Realty by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,279,650 shares of the real estate investment trust's stock valued at $40,713,000 after purchasing an additional 16,252 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Getty Realty by 409.6% during the 3rd quarter. Barclays PLC now owns 103,121 shares of the real estate investment trust's stock valued at $3,281,000 after purchasing an additional 82,887 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.
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