Baird Downgrades Getty Realty (GTY) to Neutral

Baird analyst Wesley Golladay downgraded Getty Realty (NYSE: GTY) from Outperform to Neutral with a price target of $34.00.

The analyst comments "A strong balance sheet and growing deal pipeline helped GTY separate from many of the net lease peers in 2022.The sharp rise in shares led to a material re-rating vs. the group. We expect another good year from GTY, but believe the current valuation reflects our optimistic view. We did raise the premium ascribed to our NAV/share estimate for our target price as the improved cost of equity provides visibility to scale the platform and fund deals."

For an analyst ratings summary and ratings history on Getty Realty click here. For more ratings news on Getty Realty click here.

Shares of Getty Realty closed at $34.13 yesterday.

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• UBS Reiterates Buy Rating on Hilton Worldwide (HLT)
• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'