Getty Realty (NYSE:GTY) Stock Rating Upgraded by Bank of America

Getty Realty (NYSE:GTY) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The firm presently has a $34.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $31.00. Bank of America‘s price objective suggests a potential upside of 5.62% from the company’s previous close.

Several other equities research analysts have also weighed in on GTY. JPMorgan Chase & Co. raised their target price on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. JMP Securities lifted their price target on Getty Realty from $31.50 to $33.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $32.50.

Getty Realty Stock Performance

Shares of GTY opened at $32.19 on Monday. The stock has a 50-day simple moving average of $31.56 and a 200-day simple moving average of $29.24. 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 stock has a market capitalization of $1.74 billion, a PE ratio of 27.51 and a beta of 0.92. Getty Realty has a 1 year low of $25.70 and a 1 year high of $32.87.

Getty Realty (NYSE:GTY) last announced 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 company had revenue of $49.94 million during the quarter, compared to analysts’ expectations 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 previous year, the business posted $0.56 EPS. On average, analysts predict that Getty Realty will post 2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GTY. Vanguard Group Inc. boosted its stake in shares of Getty Realty by 3.4% in the first quarter. Vanguard Group Inc. now owns 7,768,393 shares of the real estate investment trust’s stock valued at $212,466,000 after buying an additional 252,254 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Getty Realty by 9.8% in the second quarter. Bank of New York Mellon Corp now owns 601,341 shares of the real estate investment trust’s stock valued at $16,032,000 after buying an additional 53,906 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Getty Realty by 101.3% in the second quarter. AQR Capital Management LLC now owns 93,900 shares of the real estate investment trust’s stock valued at $2,503,000 after buying an additional 47,248 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Getty Realty in the second quarter valued at approximately $1,251,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Getty Realty in the second quarter valued at approximately $958,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Getty Realty Company Profile