Getty Realty (NYSE:GTY) Sets New 1-Year High – Still a Buy?

Getty Realty Corporation (NYSE:GTY)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $34.02 and last traded at $33.8570, with a volume of 703771 shares traded. The stock had previously closed at $33.24.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GTY. Weiss Ratings reissued a “hold (c)” rating on shares of Getty Realty in a research note on Thursday, January 22nd. Royal Bank Of Canada increased 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 report on Tuesday. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.60.

Getty Realty Price Performance

The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.20 and a current ratio of 2.20. The business has a 50 day moving average price of $29.33 and a 200-day moving average price of $28.32. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 3.08 and a beta of 0.84.

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

Getty Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 26th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Thursday, March 26th. Getty Realty’s payout ratio is presently 144.78%.

Hedge Funds Weigh In On Getty Realty

Several institutional investors have recently made changes to their positions in GTY. Aster Capital Management DIFC Ltd acquired a new stake in shares of Getty Realty in the 3rd quarter valued at about $27,000. Newbridge Financial Services Group Inc. acquired a new stake in Getty Realty in the fourth quarter valued at approximately $29,000. Advisors Asset Management Inc. acquired a new stake in Getty Realty in the first quarter valued at approximately $31,000. EverSource Wealth Advisors LLC increased its holdings in shares of Getty Realty by 3,996.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,188 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,159 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Getty Realty by 288.6% during the third quarter. Farther Finance Advisors LLC now owns 1,364 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 1,013 shares in the last quarter. Institutional investors and hedge funds 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.