Getty Realty Corp. (NYSE:GTY - Get Free Report) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 2,360,000 shares, a drop of 39.2% from the September 15th total of 3,880,000 shares. Based on an average daily volume of 351,200 shares, the days-to-cover ratio is currently 6.7 days.
Shares of GTY stock opened at $30.97 on Friday. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 25.60 and a beta of 0.92. Getty Realty has a 1-year low of $25.70 and a 1-year high of $32.87. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.88. The stock's fifty day simple moving average is $31.35 and its 200-day simple moving average is $28.94.
Getty Realty (NYSE:GTY - Get Free Report) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.27). The business had revenue of $49.94 million for the quarter, compared to analysts' expectations of $48.51 million. Getty Realty had a net margin of 33.49% and a return on equity of 6.98%. During the same period last year, the firm earned $0.56 EPS. On average, sell-side analysts predict that Getty Realty will post 2.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend was Thursday, September 26th. Getty Realty's dividend payout ratio is currently 148.76%.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Getty Realty by 3.4% during the first quarter. Vanguard Group Inc. now owns 7,768,393 shares of the real estate investment trust's stock valued at $212,466,000 after acquiring an additional 252,254 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Getty Realty by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 740,116 shares of the real estate investment trust's stock valued at $19,731,000 after purchasing an additional 28,575 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Getty Realty by 9.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 601,341 shares of the real estate investment trust's stock valued at $16,032,000 after purchasing an additional 53,906 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Getty Realty by 11.7% in the 1st quarter. ProShare Advisors LLC now owns 289,385 shares of the real estate investment trust's stock valued at $7,915,000 after purchasing an additional 30,393 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Getty Realty by 12.1% in the second quarter. Envestnet Asset Management Inc. now owns 258,154 shares of the real estate investment trust's stock worth $6,882,000 after purchasing an additional 27,902 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on GTY. JPMorgan Chase & Co. lifted their price target on Getty Realty from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, September 19th. JMP Securities boosted their price target on shares of Getty Realty from $31.50 to $33.00 and gave the company a "market outperform" rating in a report on Thursday, July 25th.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Getty Realty, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Getty Realty wasn't on the list.
While Getty Realty currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.