Getty Realty price target lowered to $32 from $33 at RBC Capital

RBC Capital analyst Brad Heffern lowered the firm’s price target on Getty Realty (GTY) to $32 from $33 and keeps a Sector Perform rating on the shares. The company’s Q4 investment activity was above RBC’s prior estimate, and the cap rate was significantly higher than the firm was expecting, the analyst tells investors in a research note. Given that Getty does not include future acquisition activity in its guidance, the underlying assumptions are likely slightly ahead of expectations as well, the firm adds.