Getty Realty Corp. (NYSE:GTY – Get Rating) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 826,500 shares, a decrease of 15.2% from the July 31st total of 974,100 shares. Based on an average daily volume of 185,100 shares, the days-to-cover ratio is currently 4.5 days. Approximately 2.0% of the company’s stock are sold short.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. Redburn Partners assumed coverage on Getty Realty in a report on Thursday, August 25th. They set a “neutral” rating on the stock. Royal Bank of Canada upped their price target on Getty Realty from $27.00 to $30.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 2nd. JMP Securities began coverage on Getty Realty in a report on Tuesday, May 10th. They issued an “outperform” rating and a $32.00 price objective on the stock. StockNews.com upgraded Getty Realty from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Finally, Bank of America upgraded Getty Realty from an “underperform” rating to a “neutral” rating and set a $33.00 price objective on the stock in a report on Wednesday, August 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.25.
Getty Realty Trading Up 0.6 %
GTY opened at $30.50 on Tuesday. The business’s 50-day simple moving average is $28.19 and its 200-day simple moving average is $27.78. The company has a market cap of $1.43 billion, a P/E ratio of 17.84, a PEG ratio of 2.58 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.16 and a current ratio of 2.16. Getty Realty has a one year low of $24.66 and a one year high of $33.35.
Getty Realty (NYSE:GTY – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.38. Getty Realty had a return on equity of 11.05% and a net margin of 50.94%. During the same quarter in the prior year, the firm posted $0.49 EPS. As a group, equities research analysts expect that Getty Realty will post 2.07 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 6th. Investors of record on Thursday, September 22nd will be paid a dividend of $0.41 per share. The ex-dividend date is Wednesday, September 21st. This represents a $1.64 dividend on an annualized basis and a yield of 5.38%. Getty Realty’s dividend payout ratio is presently 95.91%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. New York State Teachers Retirement System grew its stake in Getty Realty by 8.6% during the 1st quarter. New York State Teachers Retirement System now owns 49,365 shares of the real estate investment trust’s stock worth $1,413,000 after buying an additional 3,900 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Getty Realty by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 615,725 shares of the real estate investment trust’s stock worth $19,760,000 after acquiring an additional 1,968 shares during the period. Exchange Traded Concepts LLC lifted its position in Getty Realty by 17.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 183,616 shares of the real estate investment trust’s stock worth $5,255,000 after acquiring an additional 27,460 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in Getty Realty by 226.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,062 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 737 shares during the period. Finally, abrdn plc lifted its position in Getty Realty by 5.9% during the 4th quarter. abrdn plc now owns 8,564 shares of the real estate investment trust’s stock worth $275,000 after acquiring an additional 475 shares during the period. Hedge funds and other institutional investors own 71.77% of the company’s stock.
