Getty Realty Corp. (NYSE:GTY) Short Interest Down 8.5% in October

Getty Realty Corp. (NYSE:GTY) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totalling 2,160,000 shares, a decrease of 8.5% from the September 30th total of 2,360,000 shares. Based on an average daily volume of 337,100 shares, the days-to-cover ratio is presently 6.4 days.

Wall Street Analyst Weigh In

A number of research analysts have commented on GTY shares. JMP Securities increased their price target on shares of Getty Realty from $31.50 to $33.00 and gave the company a “market outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Bank of America raised Getty Realty from a “neutral” rating to a “buy” rating and boosted their target price for the company from $31.00 to $34.00 in a research note on Monday, October 21st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.50.

Getty Realty Trading Down 1.6 %

NYSE GTY opened at $31.40 on Friday. The firm has a market capitalization of $1.69 billion, a PE ratio of 26.84 and a beta of 0.92. The stock’s 50 day moving average is $31.75 and its 200 day moving average is $29.45. Getty Realty has a twelve month low of $25.70 and a twelve month high of $33.23. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.88.

Getty Realty (NYSE:GTY) last posted its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.28). The company had revenue of $51.47 million during the quarter, compared to analysts’ expectations of $49.79 million. Getty Realty had a return on equity of 6.98% and a net margin of 33.49%. During the same quarter in the previous year, the company earned $0.57 EPS. Research analysts forecast that Getty Realty will post 2.21 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, December 26th. This is an increase from Getty Realty’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 5.99%. Getty Realty’s dividend payout ratio (DPR) is presently 160.68%.

Hedge Funds Weigh In On Getty Realty

A number of hedge funds have recently bought and sold shares of GTY. Point72 Asia Singapore Pte. Ltd. purchased a new position in Getty Realty in the second quarter worth about $29,000. Point72 Hong Kong Ltd bought a new position in Getty Realty in the 2nd quarter valued at approximately $30,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Getty Realty by 34.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,990 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 513 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Getty Realty in the 2nd quarter worth $81,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Getty Realty in the 2nd quarter worth $162,000. Institutional investors own 85.11% of the company’s stock.

Getty Realty Company Profile