Getty Realty (NYSE:GTY) Price Target Raised to $33.00

Getty Realty (NYSE:GTY) had its price objective upped by JPMorgan Chase & Co. from $31.00 to $33.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Separately, JMP Securities increased their price objective 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.

Getty Realty Trading Down 0.9 %

NYSE:GTY opened at $31.98 on Thursday. The stock has a fifty day moving average price of $31.11 and a two-hundred day moving average price of $28.53. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 27.33 and a beta of 0.92. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.22 and a current ratio of 3.22. Getty Realty has a 1 year low of $25.70 and a 1 year high of $32.87.

Getty Realty (NYSE:GTY) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.30 earnings per share (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 analysts’ expectations 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 company posted $0.56 EPS. As a group, sell-side analysts anticipate that Getty Realty will post 2.2 earnings per share for the current fiscal year.

Getty Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.63%. The ex-dividend date is Thursday, September 26th. Getty Realty’s dividend payout ratio (DPR) is 153.85%.

Institutional Trading of Getty Realty

Several large investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Getty Realty in the second quarter valued at $29,000. Point72 Asset Management L.P. acquired a new stake in Getty Realty in the second quarter valued at $162,000. Creative Planning acquired a new stake in Getty Realty in the second quarter valued at $291,000. The Manufacturers Life Insurance Company grew its holdings in Getty Realty by 6.5% in the second quarter. The Manufacturers Life Insurance Company now owns 25,067 shares of the real estate investment trust’s stock valued at $668,000 after purchasing an additional 1,532 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Getty Realty by 101.3% in the second quarter. AQR Capital Management LLC now owns 93,900 shares of the real estate investment trust’s stock valued at $2,503,000 after purchasing an additional 47,248 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

About Getty Realty