KeyBanc analyst Upal Rana raised the firm’s price target on Getty Realty (GTY) to $36 from $33 and keeps an Overweight rating on the shares following Q1 earnings and recent investor meetings. With over $625M of liquidity, leverage of 4.2 times, and healthy investment spreads of 150 bps, Getty is well positioned to fund its $125M pipeline and accelerate investment volumes to drive future earnings growth. While the stock has outperformed peers by 1,070 bps year-to-date, KeyBanc views valuation to still be attractive at a 2.9% multiple premium to peers on 2026 AFFO/share and a 7.7% implied cap rate.
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