Getty Realty (GTY) Raised to “Hold” at Zacks Investment Research
Getty Realty (NYSE:GTY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Separately, KeyCorp began coverage on Getty Realty in a research note on Tuesday, December 12th. They issued a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $28.75.
Getty Realty (NYSE:GTY) last released its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.21). Getty Realty had a net margin of 36.66% and a return on equity of 9.62%. The company had revenue of $29.50 million for the quarter, compared to analyst estimates of $27.35 million. During the same quarter last year, the firm posted $0.47 EPS. Getty Realty’s revenue for the quarter was up 3.5% on a year-over-year basis. equities research analysts expect that Getty Realty will post 1.95 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Getty Realty in the 3rd quarter worth approximately $158,000. Piedmont Investment Advisors LLC purchased a new position in shares of Getty Realty in the 3rd quarter worth approximately $204,000. D.A. Davidson & CO. boosted its stake in shares of Getty Realty by 2.4% in the 2nd quarter. D.A. Davidson & CO. now owns 7,755 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 180 shares during the last quarter. Nine Chapters Capital Management LLC purchased a new position in shares of Getty Realty in the 3rd quarter worth approximately $235,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Getty Realty in the 3rd quarter worth approximately $255,000. Hedge funds and other institutional investors own 61.16% of the company’s stock.
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Getty Realty Company Profile
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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