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

Key Points

• Huntington Sec initiated coverage of Getty Realty with a “strong-buy” rating. Other analysts remain generally positive, giving the stock a consensus “Moderate Buy” rating and an average price target of $36.57.
• Getty Realty reported quarterly EPS of $0.40, exceeding estimates of $0.35, while revenue reached $62.99 million—up 12% year over year and above expectations.
• GTY shares opened at $27.99, near the lower end of their 52-week range of $26.91 to $36.83. Institutional investors own approximately 85.11% of the company’s stock.

Investment analysts at Huntington Sec initiated coverage on shares of Getty Realty (NYSE:GTY - Get Free Report) in a research note issued on Thursday, Zacks reports. The firm set a "strong-buy" rating on the real estate investment trust's stock.

Several other analysts also recently issued reports on the stock. KeyCorp reissued an "overweight" rating and issued a $36.00 price target on shares of Getty Realty in a research report on Thursday, September 24th. Weiss Ratings downgraded shares of Getty Realty from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday. Citigroup restated a "market outperform" rating on shares of Getty Realty in a report on Wednesday, September 23rd. Deutsche Bank Aktiengesellschaft set a $39.00 price objective on shares of Getty Realty in a research note on Wednesday, September 23rd. Finally, Huntington assumed coverage on shares of Getty Realty in a report on Wednesday, July 15th. They set an "outperform" rating and a $37.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.57.

Getty Realty Price Performance

GTY stock opened at $27.99 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.82 and a quick ratio of 2.82. The company's 50-day moving average is $29.81 and its 200-day moving average is $32.11. The stock has a market capitalization of $1.88 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. Getty Realty has a 1 year low of $26.91 and a 1 year high of $36.83.

Getty Realty (NYSE:GTY - Get Free Report) last issued its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. Getty Realty had a return on equity of 8.93% and a net margin of 42.37%. The business had revenue of $62.99 million during the quarter, compared to analyst estimates of $59.18 million. During the same period in the previous year, the company posted $0.62 EPS. The firm's revenue was up 12.0% compared to the same quarter last year. Equities research analysts expect that Getty Realty will post 2.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Getty Realty

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund boosted its position in Getty Realty by 3.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 13,060 shares of the real estate investment trust's stock worth $369,000 after purchasing an additional 400 shares during the last quarter. Bridge City Capital LLC increased its position in shares of Getty Realty by 21.3% during the 3rd quarter. Bridge City Capital LLC now owns 83,397 shares of the real estate investment trust's stock valued at $2,355,000 after purchasing an additional 14,643 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of Getty Realty by 6.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 106,323 shares of the real estate investment trust's stock valued at $3,003,000 after purchasing an additional 6,145 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Getty Realty during the 3rd quarter valued at $18,326,000. Finally, GAMMA Investing LLC raised its stake in shares of Getty Realty by 63.3% during the 3rd quarter. GAMMA Investing LLC now owns 14,678 shares of the real estate investment trust's stock worth $415,000 after purchasing an additional 5,687 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

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.

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