Getty Realty (NYSE:GTY) Issues Quarterly Earnings Results

by · The Markets Daily

Getty Realty (NYSE:GTY – Get Free Report) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.17), FiscalAI reports. The company had revenue of $60.55 million for the quarter, compared to analysts’ expectations of $55.94 million. Getty Realty had a net margin of 34.76% and a return on equity of 7.60%.

Getty Realty Price Performance

NYSE:GTY traded down $0.12 during trading hours on Wednesday, reaching $31.11. 435,677 shares of the company were exchanged, compared to its average volume of 432,153. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.93. The firm has a market cap of $1.80 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 2.85 and a beta of 0.84. Getty Realty has a twelve month low of $25.39 and a twelve month high of $32.17. The stock’s 50-day moving average is $28.84 and its 200-day moving average is $28.15.

Getty Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 26th will be given a dividend of $0.485 per share. The ex-dividend date is Thursday, March 26th. This represents a $1.94 dividend on an annualized basis and a yield of 6.2%. Getty Realty’s dividend payout ratio is currently 151.56%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GTY. Weiss Ratings reissued a “hold (c)” rating on shares of Getty Realty in a report on Thursday, January 22nd. Janney Montgomery Scott began coverage on shares of Getty Realty in a research note on Thursday, October 16th. They issued a “buy” rating and a $30.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.25.

Get Our Latest Analysis on GTY

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GTY. Advisors Asset Management Inc. acquired a new stake in Getty Realty in the 1st quarter worth about $31,000. EverSource Wealth Advisors LLC lifted its position in shares of Getty Realty by 3,996.6% in 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 acquiring an additional 1,159 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Getty Realty in the third quarter worth approximately $56,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Getty Realty during the third quarter worth approximately $58,000. Finally, State of Wyoming acquired a new position in Getty Realty in the 4th quarter valued at $65,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Getty Realty Company Profile

(Get Free Report)

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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