Getty Realty Corp. Receives “Hold” Recommendation from Analysts, Reflecting Stability in Market Performance
Date: July 16, 2023
In the world of financial analysis and investment strategies, Getty Realty Corp. (NYSE:GTY) has recently caught the attention of six esteemed ratings firms. Drawing data from their collective expertise, these analysts have reached a unanimous consensus on the company’s stock recommendation – “Hold.” With five analysts affirming this suggestion and one issuing a buy recommendation, investors are closely evaluating the future prospects for Getty Realty. This article will delve into the analyses conducted by these professionals and explore the factors shaping their assessment.
Price Targets and Current Stock Performance:
Based on recent coverage by experts over the past year, it is noteworthy to mention that the average 12-month price target stands at $33.33 per share. Considering Getty Realty stock opened at $33.03 on Friday, this target implies a modest upside potential of approximately 1%. These figures indicate a neutral stance regarding growth opportunities in the immediate future.
Assessing Market Capitalization and Trading Figures:
Getty Realty holds a market capitalization of $1.63 billion, showcasing its substantial scale as a real estate investment trust (REIT) specializing in properties for convenience stores and gas stations. The price-to-earnings ratio currently stands at 18.77, suggesting that investors are willing to pay roughly 18 times earnings to acquire shares of Getty Realty.
It is important to note that fluctuations in market conditions often influence companies’ performance and share prices alike; therefore, assessing risk-reward ratios becomes crucial for potential investors. Getty Realty’s beta score of 0.87 implies that it is less volatile than the broader market on average.
Range-bound Trading with Promising Potential:
Over the past twelve months, Getty Realty’s stock exhibited trading within a range of $25.49 to $36.49. This reflects stability within the company’s performance, showcasing a limited divergence in share price amid varying market conditions.
Financial Strength Indicators:
One of the indicators used to measure a company’s short-term liquidity, the current ratio, stands at 3.02 for Getty Realty. This demonstrates its ability to meet immediate financial obligations comfortably. Additionally, the quick ratio also registers at 3.02, further exemplifying its strong liquidity position by depicting the company’s ability to cover current liabilities from highly liquid assets.
Considering the debt-to-equity ratio of 0.81, it is apparent that Getty Realty maintains a balanced capital structure wherein its level of debt is relatively reasonable in relation to shareholders’ equity.
Trend Analysis and Moving Averages:
In terms of analyzing stock trends over time, investors often rely on moving averages to identify patterns or signals that may indicate potential buy or sell opportunities. Getty Realty currently has a 50-day simple moving average (SMA) of $33.96 and a 200-day SMA of $34.42, reflecting slight downward trends in their share price during those timeframes.
Conclusion:
Despite varied recommendations from analysts covering Getty Realty Corp., it is apparent that a broad consensus suggests holding onto shares at this point in time. With solid market capitalization and favorable liquidity ratios, Getty Realty exhibits stability and reliability as an investment option for discerning individuals seeking moderate returns while navigating uncertain market conditions.
Traders and investors are advised to exercise due diligence before making any investment decisions by closely monitoring market developments and consulting with reputable financial advisors who can assist them in aligning their investment objectives with their risk appetite when considering investments such as real estate investment trusts (REITs).
Disclaimer: This article should not be considered as financial advice or an endorsement for investing in Getty Realty Corp.’s stock; it merely presents consolidated information derived from reliable sources up until July 16, 2023.
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Getty Realty Corp. Receives Positive Analysts’ Ratings and Increases in Institutional Investor Stakes
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”GTY” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Getty Realty Corp. (NYSE:GTY) has recently caught the attention of various research analysts, prompting discussions on the stock’s performance. JMP Securities, for instance, increased its target price from $37.00 to $39.00 and labeled the stock as “market outperform” in a research report released on March 21st, 2023. This positive assessment reflects their belief that the company’s shares will exceed market expectations. Another notable event surrounding Getty Realty is its coverage by StockNews.com, who issued a “hold” rating for the company on May 18th.
Institutional investors and hedge funds have also made moves related to Getty Realty recently, either increasing or reducing their stakes in the company. Bank of New York Mellon Corp raised its stake by 1.4% during the first quarter, now owning 585,653 shares worth a staggering $16,762,000 after purchasing an additional 7,892 shares for their portfolio. Meanwhile, HighTower Advisors LLC elevated its position by 7.7%, acquiring an extra 1,133 shares and bringing their total ownership to 15,914 shares valued at approximately $456,000.
MetLife Investment Management LLC saw significant growth in their holdings as well – a remarkable increase of 56.8% during the same period. This added an impressive 7,969 shares to their existing portfolio of Getty Realty stock totaling 22,011 shares valued at roughly $630,000. Rhumbline Advisers further contributed to this trend by boosting its position in Getty Realty by 36.8%, gaining a substantial amount of additional stock – specifically an extra 41,905 shares – now amounting to a total of approximately 155,688 shares worth $4,456 million.
Finally yet importantly is Commonwealth of Pennsylvania Public School Empls Retrmt SYS demonstrating its confidence in Getty Realty by increasing its stake by 14.1%. With an additional 4,193 shares acquired during the first quarter, their overall ownership has reached 34,008 shares valued at about $973,000. These institutional investors currently hold approximately 85.52% of the total stock.
On April 26th, Getty Realty released its earnings results, which revealed that the real estate investment trust had reported earnings per share of $0.28 for the quarter. This figure missed analysts’ consensus estimate by ($0.24). Despite this shortfall, Getty Realty maintained a return on equity of 11.00% and a net margin of 50.43%. The company’s revenue for the quarter amounted to $42.37 million compared to analyst estimates of $43.02 million. Equities research analysts are estimating that Getty Realty will ultimately post earnings per share of 2.13 for the current fiscal year.
In addition to these noteworthy developments, Getty Realty recently announced a quarterly dividend payout on July 6th, which was indicative of its commitment to shareholders’ interests. Shareholders who were listed on June 22nd were awarded a dividend of $0.43 per share as indicated in official records with an ex-dividend date set for June 21st—highlighting Getty Realty’s consistent dividend policy and dedication to providing value for investors.
Overall, Getty Realty Corp.’s stock has garnered attention from various research analysts who have expressed optimism regarding its performance potential, leading them to assign more favorable target prices and ratings to it. Simultaneously, institutional investors have been actively adjusting their stakes in the company throughout recent quarters—a trend that suggests growing confidence in Getty Realty’s long-term prospects within the real estate sector.
This article includes commentary up until July 16th, 2023
