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

Getty Realty Corporation (NYSE:GTY)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $34.25 and last traded at $34.3150, with a volume of 8295 shares. The stock had previously closed at $34.01.

Analysts Set New Price Targets

GTY has been the subject of a number of research analyst reports. UBS Group lifted their target price on Getty Realty from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, March 9th. Weiss Ratings raised Getty Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, Royal Bank Of Canada lifted their target price on Getty Realty from $30.00 to $33.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.20.

Getty Realty Trading Up 1.7%

The firm has a market cap of $2.07 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 2.51 and a beta of 0.81. The stock has a fifty day simple moving average of $32.81 and a 200 day simple moving average of $29.74. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.20 and a current ratio of 2.20.

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

Getty Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Thursday, March 26th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Thursday, March 26th. Getty Realty’s dividend payout ratio (DPR) is 144.78%.

Hedge Funds Weigh In On Getty Realty

A number of institutional investors and hedge funds have recently modified their holdings of GTY. Schonfeld Strategic Advisors LLC boosted its stake in shares of Getty Realty by 2,308.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 457,536 shares of the real estate investment trust’s stock worth $12,276,000 after buying an additional 438,540 shares during the last quarter. Marshall Wace LLP boosted its stake 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 worth $17,458,000 after buying an additional 396,897 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Getty Realty by 42.3% in 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 buying an additional 339,388 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Getty Realty by 58.8% in 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 buying an additional 297,229 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Getty Realty by 419.7% in 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 worth $7,698,000 after buying an additional 231,714 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

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.