Getty Realty (NYSE:GTY) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Getty Realty (NYSE:GTY) from a buy rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

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. “

Several other research firms have also commented on GTY. ValuEngine lowered shares of Getty Realty from a buy rating to a hold rating in a research note on Wednesday, October 2nd. JMP Securities reaffirmed a hold rating on shares of Getty Realty in a research note on Tuesday, September 17th.

Shares of GTY opened at $32.47 on Tuesday. The company’s fifty day moving average is $31.87 and its 200 day moving average is $31.47. Getty Realty has a fifty-two week low of $26.50 and a fifty-two week high of $35.03. The stock has a market capitalization of $1.34 billion, a PE ratio of 18.99, a P/E/G ratio of 6.03 and a beta of 0.51. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.87 and a current ratio of 1.87.

Getty Realty (NYSE:GTY) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.14). The firm had revenue of $33.56 million for the quarter, compared to analysts’ expectations of $29.72 million. Getty Realty had a return on equity of 8.38% and a net margin of 34.95%. As a group, research analysts forecast that Getty Realty will post 1.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 19th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.31%. The ex-dividend date was Wednesday, September 18th. Getty Realty’s payout ratio is 81.87%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its stake in Getty Realty by 18.1% during the third quarter. State of Alaska Department of Revenue now owns 28,974 shares of the real estate investment trust’s stock worth $928,000 after buying an additional 4,446 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Getty Realty by 11.8% during the second quarter. Macquarie Group Ltd. now owns 14,200 shares of the real estate investment trust’s stock valued at $437,000 after purchasing an additional 1,500 shares during the period. Royal Bank of Canada boosted its stake in shares of Getty Realty by 7.9% during the second quarter. Royal Bank of Canada now owns 21,418 shares of the real estate investment trust’s stock valued at $659,000 after purchasing an additional 1,566 shares during the period. United Services Automobile Association boosted its stake in shares of Getty Realty by 62.8% during the second quarter. United Services Automobile Association now owns 19,967 shares of the real estate investment trust’s stock valued at $614,000 after purchasing an additional 7,700 shares during the period. Finally, Susquehanna International Group LLP boosted its stake in shares of Getty Realty by 324.3% during the second quarter. Susquehanna International Group LLP now owns 13,235 shares of the real estate investment trust’s stock valued at $407,000 after purchasing an additional 19,135 shares during the period. 64.29% of the stock is owned by institutional investors.

About Getty Realty

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