Zacks Investment Research Lowers Getty Realty (GTY) to Sell

Getty Realty (NYSE:GTY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, 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. “

GTY opened at $32.36 on Friday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 6.44 and a beta of 0.59. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.70 and a quick ratio of 1.70. Getty Realty has a 1-year low of $24.34 and a 1-year high of $35.03.

Getty Realty (NYSE:GTY) last released its earnings results on Tuesday, February 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.16). The firm had revenue of $29.45 million during the quarter, compared to analyst estimates of $30.05 million. Getty Realty had a return on equity of 8.56% and a net margin of 35.21%. On average, analysts predict that Getty Realty will post 1.79 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Getty Realty by 2.7% during the 1st quarter. BlackRock Inc. now owns 5,995,225 shares of the real estate investment trust’s stock valued at $192,026,000 after acquiring an additional 159,907 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Getty Realty by 1.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,572,186 shares of the real estate investment trust’s stock valued at $82,387,000 after acquiring an additional 30,300 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Getty Realty by 0.7% during the 4th quarter. Bank of New York Mellon Corp now owns 539,153 shares of the real estate investment trust’s stock valued at $15,857,000 after acquiring an additional 3,928 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Getty Realty by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 531,365 shares of the real estate investment trust’s stock valued at $15,628,000 after acquiring an additional 21,596 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Getty Realty by 15.6% during the 1st quarter. Geode Capital Management LLC now owns 416,182 shares of the real estate investment trust’s stock valued at $13,330,000 after acquiring an additional 56,071 shares during the last quarter. Hedge funds and other institutional investors own 64.32% of the company’s stock.

Getty Realty Company Profile

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