Getty Realty (NYSE:GTY) Hits New 52-Week High – Time to Buy?

Getty Realty Corp. (NYSE:GTY)’s share price reached a new 52-week high on Thursday . The stock traded as high as $32.96 and last traded at $32.91, with a volume of 9450 shares traded. The stock had previously closed at $32.26.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Bank of America raised Getty Realty from a “neutral” rating to a “buy” rating and raised their price objective for the company from $31.00 to $34.00 in a research report on Monday. JMP Securities lifted their price target on Getty Realty from $31.50 to $33.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.50.

Getty Realty Trading Up 0.7 %

The stock has a fifty day simple moving average of $31.60 and a 200 day simple moving average of $29.26. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.22 and a current ratio of 3.22. The firm has a market cap of $1.75 billion, a P/E ratio of 27.57 and a beta of 0.92.

Getty Realty (NYSE:GTY) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.27). The business had revenue of $49.94 million during the quarter, compared to the consensus estimate of $48.51 million. Getty Realty had a return on equity of 6.98% and a net margin of 33.49%. During the same quarter in the previous year, the business posted $0.56 earnings per share. On average, research analysts expect that Getty Realty Corp. will post 2.22 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th will be paid a $0.47 dividend. The ex-dividend date is Thursday, December 26th. This is a positive change 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 5.79%. Getty Realty’s payout ratio is currently 153.85%.

Institutional Investors Weigh In On Getty Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clear Creek Financial Management LLC raised its stake in Getty Realty by 5.0% during the 2nd quarter. Clear Creek Financial Management LLC now owns 7,915 shares of the real estate investment trust’s stock valued at $211,000 after buying an additional 375 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Getty Realty by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the real estate investment trust’s stock valued at $659,000 after acquiring an additional 400 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Getty Realty by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 55,470 shares of the real estate investment trust’s stock valued at $1,517,000 after acquiring an additional 455 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Getty Realty by 34.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,990 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 513 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Getty Realty by 1.0% during the 1st quarter. State of Alaska Department of Revenue now owns 52,485 shares of the real estate investment trust’s stock valued at $1,434,000 after purchasing an additional 533 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Getty Realty Company Profile