Getty Realty (NYSE:GTY) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen has downgraded Getty Realty from a "hold" to a "sell" rating, indicating a more negative outlook for the company.
• Analysts have varied target prices for Getty Realty, with KeyCorp lowering theirs from $35.00 to $33.00, and UBS Group adjusting theirs from $29.00 to $28.00.
• Despite the downgrades, a consensus rating of "Hold" remains from various analysts, with an average price target of $32.33.

Wall Street Zen cut shares of Getty Realty (NYSE:GTY - Free Report) from a hold rating to a sell rating in a report released on Saturday.

A number of other analysts also recently issued reports on GTY. UBS Group dropped their price target on shares of Getty Realty from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Robert W. Baird dropped their price target on shares of Getty Realty from $33.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, KeyCorp dropped their price target on shares of Getty Realty from $35.00 to $33.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $32.33.

Getty Realty Stock Up 3.1%

GTY stock traded up $0.85 during midday trading on Friday, hitting $28.41. The company's stock had a trading volume of 509,767 shares, compared to its average volume of 401,300. The company has a market cap of $1.61 billion, a PE ratio of 24.71, a P/E/G ratio of 2.62 and a beta of 0.82. Getty Realty has a 12 month low of $26.42 and a 12 month high of $33.85. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.94. The firm's 50-day moving average is $28.24 and its 200-day moving average is $29.30.

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

Getty Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 25th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date of this dividend is Thursday, September 25th. Getty Realty's payout ratio is 163.48%.

Institutional Investors Weigh In On Getty Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its position in shares of Getty Realty by 38.9% during the second quarter. CWM LLC now owns 5,485 shares of the real estate investment trust's stock valued at $152,000 after buying an additional 1,537 shares during the last quarter. Aberdeen Group plc raised its position in shares of Getty Realty by 8.6% during the second quarter. Aberdeen Group plc now owns 21,781 shares of the real estate investment trust's stock valued at $602,000 after buying an additional 1,717 shares during the last quarter. Castellan Group raised its position in shares of Getty Realty by 8.2% during the second quarter. Castellan Group now owns 106,368 shares of the real estate investment trust's stock valued at $2,940,000 after buying an additional 8,027 shares during the last quarter. Callan Family Office LLC bought a new stake in Getty Realty in the second quarter worth $379,000. Finally, Clear Creek Financial Management LLC increased its position in Getty Realty by 21.3% in the second quarter. Clear Creek Financial Management LLC now owns 14,409 shares of the real estate investment trust's stock worth $398,000 after purchasing an additional 2,528 shares during the last quarter. Institutional investors own 85.11% of the company's stock.

About Getty Realty