Getty Realty Corporation (GTY) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Getty Realty Corporation (NYSE:GTY) from a hold rating to a sell rating in a research report released on Monday.

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 analysts have also issued reports about the stock. BidaskClub upgraded shares of Getty Realty Corporation from a hold rating to a buy rating in a report on Wednesday, August 2nd. Canaccord Genuity began coverage on shares of Getty Realty Corporation in a report on Tuesday, July 18th. They issued a buy rating and a $32.00 price objective on the stock. ValuEngine upgraded shares of Getty Realty Corporation from a hold rating to a buy rating in a report on Friday, September 1st. Finally, Bank of America Corporation began coverage on shares of Getty Realty Corporation in a report on Wednesday, September 6th. They issued a buy rating and a $30.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $28.75.

Shares of Getty Realty Corporation (NYSE:GTY) traded down $0.10 on Monday, reaching $28.02. 137,200 shares of the company traded hands, compared to its average volume of 207,547. The stock has a market cap of $1,113.83, a price-to-earnings ratio of 15.71, a P/E/G ratio of 4.81 and a beta of 0.56. Getty Realty Corporation has a 12-month low of $22.14 and a 12-month high of $29.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.37.

Getty Realty Corporation (NYSE:GTY) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.21). The company had revenue of $29.50 million during the quarter, compared to analysts’ expectations of $27.35 million. Getty Realty Corporation had a net margin of 36.66% and a return on equity of 9.62%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. research analysts anticipate that Getty Realty Corporation will post 1.97 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 21st will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, December 20th. This is a positive change from Getty Realty Corporation’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 4.57%. Getty Realty Corporation’s dividend payout ratio is 94.12%.

Large investors have recently modified their holdings of the business. State of Alaska Department of Revenue increased its stake in Getty Realty Corporation by 78.9% during the second 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 period. SG Americas Securities LLC purchased a new stake in Getty Realty Corporation during the third quarter worth about $158,000. Municipal Employees Retirement System of Michigan increased its stake in Getty Realty Corporation by 6.2% during the second 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 period. D.A. Davidson & CO. increased its stake in Getty Realty Corporation by 2.4% during the second 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 period. Finally, Nine Chapters Capital Management LLC purchased a new stake in Getty Realty Corporation during the third quarter worth about $235,000. Institutional investors own 52.28% of the company’s stock.

Getty Realty Corporation 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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