Huntington Sec Initiates Coverage on Getty Realty (NYSE:GTY)

Research analysts at Huntington Sec initiated coverage on shares of Getty Realty (NYSE:GTY) in a note issued to investors on Thursday, Zacks reports. The brokerage set a “strong-buy” rating on the real estate investment trust’s stock.

A number of other research firms also recently issued reports on GTY. KeyCorp reissued an “overweight” rating and issued a $36.00 target price on shares of Getty Realty in a research report on Thursday, September 24th. Huntington assumed coverage on Getty Realty in a research report on Wednesday, July 15th. They set an “outperform” rating and a $37.00 price target on the stock. Citigroup reiterated a “market outperform” rating on shares of Getty Realty in a research note on Wednesday, September 23rd. Citizens Jmp reiterated a “market outperform” rating and set a $39.00 price target on shares of Getty Realty in a research note on Tuesday, September 1st. Finally, Royal Bank Of Canada increased their target price on shares of Getty Realty from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.57.

Getty Realty Trading Down 0.3%

Shares of GTY stock opened at $27.99 on Thursday. The company has a 50 day moving average of $29.81 and a 200-day moving average of $32.11. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.94. Getty Realty has a 12-month low of $26.91 and a 12-month high of $36.83. The firm has a market cap of $1.88 billion, a P/E ratio of 11.14, a PEG ratio of 1.90 and a beta of 0.72.

Getty Realty (NYSE:GTY) last posted its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Getty Realty had a net margin of 42.37% and a return on equity of 8.93%. The company had revenue of $62.99 million for the quarter, compared to analysts’ expectations of $59.18 million. During the same quarter in the previous year, the firm posted $0.62 EPS. Getty Realty’s revenue was up 12.0% on a year-over-year basis. Sell-side analysts anticipate that Getty Realty will post 2.45 earnings per share for the current year.

Institutional Investors Weigh In On Getty Realty

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Getty Realty during the 2nd quarter valued at about $344,815,000. Dimensional Fund Advisors LP raised its stake in Getty Realty by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 802,609 shares of the real estate investment trust’s stock valued at $25,523,000 after buying an additional 39,683 shares during the last quarter. Bank of America Corp DE boosted its holdings in Getty Realty by 75.8% in the first quarter. Bank of America Corp DE now owns 780,288 shares of the real estate investment trust’s stock worth $24,813,000 after acquiring an additional 336,431 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Getty Realty in the third quarter worth $18,326,000. Finally, Fidelity National Financial Inc. bought a new stake in Getty Realty in the second quarter worth $20,089,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Getty Realty Company Profile

Getty Realty Corp. is a real estate investment trust that owns, leases and develops convenience store, gasoline station and automotive service properties. Its portfolio also includes properties used for car washes, truck service, automotive parts and repairs, and other retail and service businesses.

The company generally leases its properties to operators under long-term, often triple-net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance.