Getty Realty (NYSE:GTY) Sets New 52-Week High - Time to Buy?

Key Points

• Getty Realty shares reached a new 52-week high of $34.95, extending a recent upward move as the stock traded above its prior close.
• Analyst sentiment is generally positive, with five Buy ratings and three Hold ratings; the consensus target price is $34.17, while some firms have recently raised targets as high as $37.
• The REIT reported better-than-expected earnings of $0.43 per share last quarter and pays a quarterly dividend of $0.485, implying a 5.6% yield.

Shares of Getty Realty Corporation (NYSE:GTY - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $34.95 and last traded at $34.9450, with a volume of 11306 shares trading hands. The stock had previously closed at $34.46.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GTY shares. Huntington initiated coverage on Getty Realty in a research note on Wednesday. They issued an "outperform" rating and a $37.00 target price on the stock. Robert W. Baird lifted their price target on Getty Realty from $32.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, April 23rd. Royal Bank Of Canada reissued a "sector perform" rating and issued a $35.00 price target on shares of Getty Realty in a report on Friday, April 24th. Citigroup restated a "market outperform" rating on shares of Getty Realty in a research report on Friday, June 12th. Finally, KeyCorp raised their price objective on shares of Getty Realty from $33.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.17.

Getty Realty Stock Performance

The business's 50-day simple moving average is $33.30 and its two-hundred day simple moving average is $32.16. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 2.84 and a beta of 0.72. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.92.

Getty Realty (NYSE:GTY - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.09. Getty Realty had a return on equity of 8.76% and a net margin of 40.06%.The firm had revenue of $57.84 million for the quarter, compared to analysts' expectations of $58.41 million. During the same period last year, the firm earned $0.59 EPS. The company's quarterly revenue was up 10.5% on a year-over-year basis. Getty Realty has set its FY 2026 guidance at 2.500-2.52 EPS. As a group, sell-side analysts expect that Getty Realty Corporation will post 2.42 earnings per share for the current fiscal year.

Getty Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 25th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Thursday, June 25th. Getty Realty's dividend payout ratio (DPR) is presently 127.63%.

Institutional Trading of Getty Realty

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. acquired a new stake in Getty Realty in the 4th quarter valued at $29,000. Advisors Asset Management Inc. purchased a new position in Getty Realty during the first quarter valued at $31,000. EverSource Wealth Advisors LLC lifted its holdings in Getty Realty by 3,996.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,188 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 1,159 shares in the last quarter. Avalon Trust Co acquired a new stake in shares of Getty Realty in the first quarter valued at about $38,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Getty Realty by 36.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,572 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 418 shares during the period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

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.

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