JPMorgan Chase & Co. Increases Getty Realty (NYSE:GTY) Price Target to $33.00

Getty Realty (NYSE:GTY) had its price objective increased by JPMorgan Chase & Co. from $31.00 to $33.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Separately, JMP Securities raised their price objective on Getty Realty from $31.50 to $33.00 and gave the company a market outperform rating in a research note on Thursday, July 25th.

Getty Realty Price Performance

Shares of GTY opened at $31.98 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.22 and a current ratio of 3.22. The firm has a market cap of $1.73 billion, a PE ratio of 27.33 and a beta of 0.92. Getty Realty has a twelve month low of $25.70 and a twelve month high of $32.87. The firm’s 50 day moving average price is $31.11 and its 200 day moving average price is $28.54.

Getty Realty (NYSE:GTY) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.27). The business had revenue of $49.94 million during the quarter, compared to analyst estimates of $48.51 million. Getty Realty had a net margin of 33.49% and a return on equity of 6.98%. During the same period in the previous year, the firm posted $0.56 EPS. As a group, research analysts expect that Getty Realty will post 2.2 EPS for the current fiscal year.

Getty Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date of this dividend is Thursday, September 26th. Getty Realty’s dividend payout ratio (DPR) is 153.85%.

Institutional Investors Weigh In On Getty Realty

Several hedge funds and other institutional investors have recently made changes to their positions in GTY. Vanguard Group Inc. boosted its stake in Getty Realty by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 7,768,393 shares of the real estate investment trust’s stock valued at $212,466,000 after purchasing an additional 252,254 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Getty Realty by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 740,116 shares of the real estate investment trust’s stock worth $19,731,000 after acquiring an additional 28,575 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Getty Realty by 8.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 729,032 shares of the real estate investment trust’s stock worth $21,302,000 after acquiring an additional 54,040 shares during the last quarter. Bank of New York Mellon Corp increased its position in Getty Realty by 9.8% during the second quarter. Bank of New York Mellon Corp now owns 601,341 shares of the real estate investment trust’s stock worth $16,032,000 after acquiring an additional 53,906 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Getty Realty by 10.4% during the 4th quarter. Wells Fargo & Company MN now owns 361,951 shares of the real estate investment trust’s stock valued at $10,576,000 after purchasing an additional 34,022 shares during the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Getty Realty Company Profile