Getty Realty (NYSE:GTY) Sets New 1-Year High – Should You Buy?

Getty Realty Corp. (NYSE:GTY)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $33.43 and last traded at $33.41, with a volume of 46250 shares changing hands. The stock had previously closed at $32.55.

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Bank of America upgraded Getty Realty from a “neutral” rating to a “buy” rating and increased their price objective for the company from $31.00 to $34.00 in a research report on Monday, October 21st.

Getty Realty Stock Up 2.6 %

The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.44 and a current ratio of 2.44. The company has a market cap of $1.84 billion, a P/E ratio of 27.82 and a beta of 0.91. The firm’s 50-day simple moving average is $31.83 and its 200 day simple moving average is $30.10.

Getty Realty (NYSE:GTY) last announced its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.28). Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. The firm had revenue of $51.47 million during the quarter, compared to analyst estimates of $49.79 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, research analysts forecast that Getty Realty Corp. will post 2.22 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 26th will be given a dividend of $0.47 per share. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $1.88 annualized dividend and a dividend yield of 5.63%. Getty Realty’s dividend payout ratio (DPR) is currently 160.68%.

Institutional Trading of Getty Realty

A number of institutional investors and hedge funds have recently bought and sold shares of GTY. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Getty Realty in the 2nd quarter worth approximately $29,000. Point72 Hong Kong Ltd acquired a new position in Getty Realty in the second quarter valued at $30,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Getty Realty by 34.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,990 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 513 shares during the last quarter. KBC Group NV grew its holdings in Getty Realty by 45.8% during the 3rd quarter. KBC Group NV now owns 2,175 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 683 shares during the period. Finally, Huntington National Bank lifted its stake in shares of Getty Realty by 21.6% in the 3rd quarter. Huntington National Bank now owns 2,484 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 441 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

About Getty Realty