Getty Realty (NYSE:GTY) Upgraded to “Buy” at Bank of America

Getty Realty (NYSE:GTY) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Monday, Benzinga reports. The firm presently has a $34.00 price target on the real estate investment trust’s stock, up from their previous price target of $31.00. Bank of America‘s price target would indicate a potential upside of 6.85% from the company’s current price.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. increased their price objective on Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. JMP Securities increased their price target on Getty Realty from $31.50 to $33.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.50.

Getty Realty Trading Up 0.5 %

Shares of NYSE GTY opened at $31.82 on Monday. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 27.20 and a beta of 0.92. The business has a 50 day simple moving average of $31.49 and a 200 day simple moving average of $29.16. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.22 and a current ratio of 3.22. Getty Realty has a 52 week low of $25.70 and a 52 week high of $32.87.

Getty Realty (NYSE:GTY) last released its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.27). The business had revenue of $49.94 million for the quarter, compared to the consensus estimate of $48.51 million. Getty Realty had a net margin of 33.49% and a return on equity of 6.98%. During the same quarter in the prior year, the business posted $0.56 EPS. On average, research analysts predict that Getty Realty will post 2.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Getty Realty

Several hedge funds and other institutional investors have recently modified their holdings of GTY. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Getty Realty during the 2nd quarter worth about $29,000. Point72 Hong Kong Ltd bought a new stake in shares of Getty Realty in the second quarter valued at about $30,000. Rothschild Investment LLC acquired a new stake in Getty Realty during the second quarter worth about $81,000. Point72 Asset Management L.P. bought a new position in Getty Realty during the second quarter valued at about $162,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Getty Realty by 23.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,121 shares of the real estate investment trust’s stock valued at $195,000 after acquiring an additional 1,362 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

About Getty Realty