Getty Realty (NYSE:GTY) Hits New 1-Year High – What’s Next?

Shares of Getty Realty Corp. (NYSE:GTY) hit a new 52-week high during trading on Wednesday . The company traded as high as $33.43 and last traded at $33.41, with a volume of 46250 shares traded. The stock had previously closed at $32.55.

Analyst Ratings Changes

GTY has been the subject of a number of recent research reports. Bank of America upgraded shares of Getty Realty from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $31.00 to $34.00 in a research note on Monday, October 21st. JPMorgan Chase & Co. upped their price target 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.

Getty Realty Stock Up 2.3 %

The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a fifty day simple moving average of $31.87 and a 200-day simple moving average of $30.14. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 28.47 and a beta of 0.91.

Getty Realty (NYSE:GTY) last posted 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 return on equity of 6.84% and a net margin of 32.97%. The company had revenue of $51.47 million for the quarter, compared to analyst estimates of $49.79 million. During the same quarter in the prior year, the business posted $0.57 EPS. As a group, sell-side analysts expect that Getty Realty Corp. will post 2.23 EPS for the current year.

Getty Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.64%. This is an increase from Getty Realty’s previous quarterly dividend of $0.45. Getty Realty’s dividend payout ratio (DPR) is currently 153.85%.

Hedge Funds Weigh In On Getty Realty

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Getty Realty by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 7,768,393 shares of the real estate investment trust’s stock valued at $212,466,000 after purchasing an additional 252,254 shares during the period. State Street Corp increased its stake in Getty Realty by 4.6% in the third quarter. State Street Corp now owns 3,920,520 shares of the real estate investment trust’s stock valued at $126,411,000 after acquiring an additional 172,631 shares during the last quarter. Geode Capital Management LLC raised its position in Getty Realty by 1.3% during the third 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. Charles Schwab Investment Management Inc. boosted its stake in shares of Getty Realty by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 777,330 shares of the real estate investment trust’s stock valued at $24,727,000 after purchasing an additional 11,742 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Getty Realty by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 740,116 shares of the real estate investment trust’s stock worth $19,731,000 after buying an additional 28,575 shares during the period. 85.11% of the stock is owned by institutional investors.

About Getty Realty