UPDATE: J.P. Morgan Raises Getty Realty's PT
According to a research report published this morning, J.P. Morgan has increased Getty Realty's (NYSE: GTY) PT from $12 to $13.
In the report, J.P. Morgan said, "We are increasing our 2012 and lowering our 2013 FFO estimates for GTY. Pegging FFO for GTY continues to be difficult right now given the many unanswered questions as GTY works through the repositioning of the leases previously under the master lease with its former largest (55% of revenue) tenant, Getty Petroleum Marketing, Inc. (Marketing). GTY assumed the master lease on April 30 and began the repositioning process."
J.P. Morgan maintains its Underweight rating on Getty Realty, which closed Friday at $16.07.
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