Getty Realty (NYSE:GTY) Reaches New 52-Week High – Here’s Why

Getty Realty Corporation (NYSE:GTY)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $34.83 and last traded at $34.90, with a volume of 38761 shares trading hands. The stock had previously closed at $34.00.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GTY shares. Robert W. Baird raised their price target on Getty Realty from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. UBS Group upped their price objective on shares of Getty Realty from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, March 9th. KeyCorp lifted their target price on shares of Getty Realty from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Royal Bank Of Canada reissued a “sector perform” rating and set a $35.00 target price on shares of Getty Realty in a research report on Friday, April 24th. Finally, Citigroup restated a “market outperform” rating on shares of Getty Realty in a research note on Friday, June 12th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.60.

Getty Realty Trading Up 1.5%

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.92. The stock has a 50-day simple moving average of $33.15 and a 200 day simple moving average of $31.90. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 2.83 and a beta of 0.72.

Getty Realty (NYSE:GTY) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09. The firm had revenue of $57.84 million during the quarter, compared to analysts’ expectations of $58.41 million. Getty Realty had a return on equity of 8.76% and a net margin of 40.06%.The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. Getty Realty has set its FY 2026 guidance at 2.500-2.52 EPS. As a group, equities research analysts predict that Getty Realty Corporation will post 2.42 EPS for the current fiscal year.

Getty Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 25th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 5.6%. The ex-dividend date is Thursday, June 25th. Getty Realty’s payout ratio is presently 127.63%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC lifted its position 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 valued at $12,276,000 after purchasing an additional 438,540 shares during the period. Marshall Wace LLP grew its position in Getty Realty by 164.7% during the 4th quarter. Marshall Wace LLP now owns 637,865 shares of the real estate investment trust’s stock worth $17,458,000 after purchasing an additional 396,897 shares during the period. Heartland Advisors Inc. purchased a new position in shares of Getty Realty during the 1st quarter valued at about $11,130,000. Millennium Management LLC raised its stake in shares of 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 valued at $30,651,000 after buying an additional 339,388 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Getty Realty by 75.8% in the 1st quarter. Bank of America Corp DE now owns 780,288 shares of the real estate investment trust’s stock valued at $24,813,000 after buying an additional 336,431 shares during the period. Hedge funds and other institutional investors 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.