Getty Realty Corporation (NYSE:GTY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $33.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price indicates a potential upside of 10.70% from the company’s previous close.

According to Zacks, “Getty Realty Corp. is a real estate investment trust engaged in the ownership, leasing and financing of retail motor fuel and convenience store properties and petroleum distribution terminals in the United States. The company’s properties are leased or sublet to distributors and retailers engaged in the sale of gasoline and various motor fuel products, convenience store products, and automotive repair services. Getty’s properties are operated under a variety of brands including Getty, BP, Exxon, Mobil, Shell, Chevron, Valero, Fina and Aloha. It is also a marketer of heating oil in Pennsylvania and Maryland. Getty Realty Corp. is headquartered in Jericho, New York. “

Other research analysts also recently issued reports about the stock. Bank of America Corporation started coverage on shares of Getty Realty Corporation in a research report on Wednesday, September 6th. They set a “buy” rating and a $30.00 price objective on the stock. ValuEngine raised shares of Getty Realty Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub raised shares of Getty Realty Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Canaccord Genuity started coverage on shares of Getty Realty Corporation in a research report on Tuesday, July 18th. They set a “buy” rating and a $32.00 price objective on the stock. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $28.75.

Getty Realty Corporation (NYSE:GTY) opened at 29.81 on Tuesday. The company’s 50-day moving average is $28.67 and its 200-day moving average is $26.37. The firm has a market capitalization of $1.17 billion, a P/E ratio of 24.66 and a beta of 0.55. Getty Realty Corporation has a 52-week low of $21.71 and a 52-week high of $29.89.

Getty Realty Corporation (NYSE:GTY) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. Getty Realty Corporation had a net margin of 36.50% and a return on equity of 10.28%. The firm had revenue of $24.83 million for the quarter, compared to the consensus estimate of $25.20 million. During the same period last year, the firm posted $0.42 EPS. The company’s revenue was up 2.8% on a year-over-year basis. On average, analysts predict that Getty Realty Corporation will post $1.30 EPS for the current year.

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Institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue grew its position in Getty Realty Corporation by 78.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,330 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 2,350 shares during the last quarter. Mason Street Advisors LLC grew its position in Getty Realty Corporation by 9.0% during the 1st quarter. Mason Street Advisors LLC now owns 6,306 shares of the real estate investment trust’s stock worth $159,000 after purchasing an additional 521 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in Getty Realty Corporation by 6.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,368 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 370 shares during the last quarter. Credit Agricole S A grew its position in Getty Realty Corporation by 59.0% during the 1st quarter. Credit Agricole S A now owns 7,428 shares of the real estate investment trust’s stock worth $188,000 after purchasing an additional 2,756 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in Getty Realty Corporation by 2.4% during the 2nd quarter. D.A. Davidson & CO. now owns 7,755 shares of the real estate investment trust’s stock worth $194,000 after purchasing an additional 180 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors.

About Getty Realty Corporation

Getty Realty Corp. is a real estate investment trust (REIT). The Company specializes in the ownership, leasing and financing of convenience store and gasoline station properties. As of June 30, 2017, the Company’s 825 properties were located in 26 states across the United States and Washington, District of Columbia.

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