JMP Securities lowered the firm’s price target on Getty Realty to $33 from $39 and keeps an Outperform rating on the shares. Getty announced a two-year $150M term loan, with proceeds earmarked for the revolver, and while the financing compares unfavorably to the last debt offering, upward pressure in cap rates has the spread on new investments aligned with recent averages, the analyst tells investors in a research note.
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