UBS Group Forecasts Strong Price Appreciation for Getty Realty (NYSE:GTY) Stock

Key Points

• UBS Group has raised its price target for Getty Realty (NYSE:GTY) from $28.00 to $30.00, indicating a potential upside of 6.94% from the company's previous close.
• Currently, Getty Realty has a consensus rating of "Hold" with an average price target of $32.67, according to market analysts, despite some recent downgrades.
• The company's stock experienced a 0.1% decrease in trading, reaching $28.05, with a 52-week range between $26.42 and $33.85.

Getty Realty (NYSE:GTY - Free Report) had its target price boosted by UBS Group from $28.00 to $30.00 in a research report released on Friday,Benzinga reports. UBS Group currently has a neutral rating on the real estate investment trust's stock.

Other research analysts have also issued research reports about the stock. Robert W. Baird lowered their price objective on shares of Getty Realty from $33.00 to $32.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Wall Street Zen lowered shares of Getty Realty from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Finally, KeyCorp dropped their price target on shares of Getty Realty from $35.00 to $33.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Getty Realty currently has an average rating of "Hold" and a consensus price target of $32.67.

Getty Realty Trading Down 1.2%

Shares of Getty Realty stock traded down $0.34 during trading hours on Friday, hitting $27.86. The company's stock had a trading volume of 247,967 shares, compared to its average volume of 390,566. The firm has a fifty day moving average of $28.03 and a 200-day moving average of $29.04. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 2.12 and a beta of 0.83. Getty Realty has a twelve month low of $26.42 and a twelve month high of $33.85.

Getty Realty (NYSE:GTY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). Getty Realty had a return on equity of 6.87% and a net margin of 31.62%. The company had revenue of $51.31 million for the quarter, compared to analysts' expectations of $51.59 million. Research analysts forecast that Getty Realty will post 2.29 EPS for the current year.

Getty Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 25th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Thursday, September 25th. Getty Realty's payout ratio is currently 163.48%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Caxton Associates LLP lifted its position in Getty Realty by 61.1% in the second quarter. Caxton Associates LLP now owns 17,140 shares of the real estate investment trust's stock valued at $474,000 after acquiring an additional 6,501 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Getty Realty by 8.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 173,928 shares of the real estate investment trust's stock valued at $4,807,000 after purchasing an additional 13,350 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Getty Realty by 3.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 116,596 shares of the real estate investment trust's stock valued at $3,221,000 after purchasing an additional 4,098 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Getty Realty by 143.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,901 shares of the real estate investment trust's stock valued at $135,000 after purchasing an additional 2,884 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in Getty Realty during the 2nd quarter worth approximately $560,000. Institutional investors and hedge funds own 85.11% of the company's stock.

About Getty Realty