Getty Realty (NYSE:GTY) Sets New 1-Year High After Better-Than-Expected Earnings

Shares of Getty Realty Corporation (NYSE:GTYGet Free Report) hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $32.54 and last traded at $32.13, with a volume of 48917 shares trading hands. The stock had previously closed at $31.07.

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 firm had revenue of $60.55 million during the quarter, compared to the consensus estimate of $55.94 million. The business’s revenue for the quarter was up 14.2% on a year-over-year basis.

Getty Realty Dividend Announcement

The firm 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 dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.8%. Getty Realty’s dividend payout ratio is presently 151.56%.

Key Getty Realty News

Here are the key news stories impacting Getty Realty this week:

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Getty Realty in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.25.

Check Out Our Latest Stock Report on Getty Realty

Hedge Funds Weigh In On Getty Realty

A number of hedge funds have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC lifted its stake in Getty Realty by 2,308.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 457,536 shares of the real estate investment trust’s stock worth $12,276,000 after purchasing an additional 438,540 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Getty Realty by 164.7% in the 4th quarter. Marshall Wace LLP now owns 637,865 shares of the real estate investment trust’s stock valued at $17,458,000 after buying an additional 396,897 shares during the period. Millennium Management LLC lifted its stake in Getty Realty by 42.3% during the 3rd quarter. Millennium Management LLC now owns 1,142,413 shares of the real estate investment trust’s stock worth $30,651,000 after acquiring an additional 339,388 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its stake in Getty Realty by 58.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 802,660 shares of the real estate investment trust’s stock worth $21,969,000 after acquiring an additional 297,229 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Getty Realty by 419.7% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 286,923 shares of the real estate investment trust’s stock valued at $7,698,000 after acquiring an additional 231,714 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Getty Realty Stock Performance

The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.00 and a current ratio of 2.20. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 3.06 and a beta of 0.84. The firm has a 50-day simple moving average of $29.11 and a two-hundred day simple moving average of $28.24.

Getty Realty Company Profile

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Getty Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Getty Realty and related companies with MarketBeat.com's FREE daily email newsletter.