Getty Realty (NYSE:GTY) Sets New 12-Month High - Should You Buy?

Key Points

• 52-week high: Getty Realty shares hit a new 52-week high (intraday $34.25, last $34.3150), trading above the consensus analyst target of $32.20 despite a collective "Hold" rating (2 Buys, 4 Holds).
• High dividend yield but payout risk: The REIT pays a quarterly dividend of $0.485 (annualized $1.94) for a yield of 5.7%, however its dividend payout ratio is an elevated 144.78%, which raises sustainability concerns.
• Solid recent results and stable fundamentals: Getty reported Q earnings of $0.63 (beating estimates) and revenue of $60.55M (up 14.2% YoY); market cap ~$2.04B, P/E ~25.5, debt/equity 0.93 and healthy liquidity ratios (current and quick 2.20).

Getty Realty Corporation (NYSE:GTY - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $34.25 and last traded at $34.3150, with a volume of 8295 shares traded. The stock had previously closed at $34.01.

Analysts Set New Price Targets

GTY has been the subject of several recent analyst reports. Royal Bank Of Canada lifted their price objective on shares of Getty Realty from $30.00 to $33.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 17th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Getty Realty in a research report on Thursday, January 22nd. Finally, UBS Group lifted their price objective on shares of Getty Realty from $29.00 to $33.00 and gave the stock a "neutral" rating in a research report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $32.20.

Getty Realty Price Performance

The company's 50 day moving average is $32.68 and its 200 day moving average is $29.66. 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 stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 2.49 and a beta of 0.81.

Getty Realty (NYSE:GTY - Get Free Report) last announced its quarterly 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. Getty Realty had a net margin of 35.72% and a return on equity of 7.86%. The firm had revenue of $60.55 million for the quarter, compared to analyst estimates of $55.94 million. The firm's quarterly revenue was up 14.2% compared to the same quarter last year. Research analysts anticipate that Getty Realty Corporation will post 2.29 EPS for the current fiscal year.

Getty Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Thursday, March 26th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 5.7%. The ex-dividend date was Thursday, March 26th. Getty Realty's dividend payout ratio (DPR) is currently 144.78%.

Institutional Investors Weigh In On Getty Realty

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Versor Investments LP acquired a new position in Getty Realty in the third quarter valued at $1,312,000. Delta Investment Management LLC increased its stake in Getty Realty by 73.1% in the third quarter. Delta Investment Management LLC now owns 55,330 shares of the real estate investment trust's stock valued at $1,484,000 after purchasing an additional 23,369 shares during the period. Vanguard Group Inc. increased its stake in Getty Realty by 0.6% in the third quarter. Vanguard Group Inc. now owns 8,386,280 shares of the real estate investment trust's stock valued at $225,004,000 after purchasing an additional 51,602 shares during the period. Cbre Investment Management Listed Real Assets LLC increased its stake in Getty Realty by 7.0% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 505,431 shares of the real estate investment trust's stock valued at $13,561,000 after purchasing an additional 32,924 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in Getty Realty by 178.7% in the second quarter. Thrivent Financial for Lutherans now owns 103,629 shares of the real estate investment trust's stock valued at $2,864,000 after purchasing an additional 66,443 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Getty Realty Company Profile

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.

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