Getty Realty (NYSE:GTY) Sets New 52-Week High – Time to Buy?

Getty Realty Corp. (NYSE:GTY)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $33.43 and last traded at $33.41, with a volume of 46250 shares trading hands. The stock had previously closed at $32.55.

Analyst Ratings Changes

Several research analysts have recently issued reports on GTY shares. Bank of America upgraded Getty Realty from a “neutral” rating to a “buy” rating and raised their price target for the stock from $31.00 to $34.00 in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their target price on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th.

Getty Realty Trading Up 2.3 %

The company’s fifty day simple moving average is $31.87 and its two-hundred day simple moving average is $30.14. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 28.47 and a beta of 0.91. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.87.

Getty Realty (NYSE:GTY) last released its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.28). Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. The firm had revenue of $51.47 million during the quarter, compared to the consensus estimate of $49.79 million. During the same quarter in the prior year, the company earned $0.57 EPS. Research analysts forecast that Getty Realty Corp. will post 2.23 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.64%. The ex-dividend date is Thursday, December 26th. This is a boost from Getty Realty’s previous quarterly dividend of $0.45. Getty Realty’s payout ratio is 153.85%.

Institutional Investors Weigh In On Getty Realty

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Getty Realty by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 7,768,393 shares of the real estate investment trust’s stock worth $212,466,000 after purchasing an additional 252,254 shares during the period. State Street Corp lifted its holdings in shares of Getty Realty by 4.6% in the third quarter. State Street Corp now owns 3,920,520 shares of the real estate investment trust’s stock valued at $126,411,000 after purchasing an additional 172,631 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Getty Realty by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,279,650 shares of the real estate investment trust’s stock valued at $40,713,000 after purchasing an additional 16,252 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Getty Realty by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 777,330 shares of the real estate investment trust’s stock worth $24,727,000 after buying an additional 11,742 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Getty Realty by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 740,116 shares of the real estate investment trust’s stock worth $19,731,000 after buying an additional 28,575 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

About Getty Realty