Getty Realty (NYSE:GTY) Hits New 12-Month High – Here’s Why

Shares of Getty Realty Corporation (NYSE:GTY) hit a new 52-week high during trading on Wednesday . The company traded as high as $34.02 and last traded at $33.8570, with a volume of 703771 shares trading hands. The stock had previously closed at $33.24.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of Getty Realty from $30.00 to $33.00 and gave the company a “sector perform” rating in a research note on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Getty Realty in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.60.

Getty Realty Stock Up 1.9%

The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $2.03 billion, a P/E ratio of 25.27, a P/E/G ratio of 3.08 and a beta of 0.84. The stock’s 50-day simple moving average is $29.33 and its 200-day simple moving average is $28.32.

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 the consensus estimate of $0.62 by $0.01. The firm had revenue of $60.55 million for the quarter, compared to analysts’ expectations of $55.94 million. Getty Realty had a net margin of 35.72% and a return on equity of 7.86%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, research analysts predict that Getty Realty Corporation will post 2.29 earnings per share for the current fiscal year.

Getty Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 26th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Thursday, March 26th. Getty Realty’s dividend payout ratio is 144.78%.

Hedge Funds Weigh In On Getty Realty

Several institutional investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new stake in Getty Realty during the third quarter worth about $27,000. Newbridge Financial Services Group Inc. bought a new position in shares of Getty Realty during the 4th quarter valued at approximately $29,000. Advisors Asset Management Inc. purchased a new stake in shares of Getty Realty during the 1st quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its stake in shares of Getty Realty by 3,996.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,188 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,159 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Getty Realty by 288.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,364 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 1,013 shares during the period. Institutional investors own 85.11% of the company’s stock.

About Getty Realty

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.