ProShare Advisors LLC reduced its position in Getty Realty Corporation (NYSE:GTY – Free Report) by 32.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 282,931 shares of the real estate investment trust’s stock after selling 135,211 shares during the quarter. ProShare Advisors LLC owned 0.42% of Getty Realty worth $7,990,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of GTY. Avalon Trust Co purchased a new position in shares of Getty Realty during the 1st quarter valued at about $38,000. Global Retirement Partners LLC purchased a new stake in Getty Realty in the second quarter worth approximately $43,000. Optiver Holding B.V. boosted its stake in Getty Realty by 380.2% in the first quarter. Optiver Holding B.V. now owns 1,556 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 1,232 shares in the last quarter. Nykredit A S purchased a new stake in Getty Realty in the second quarter worth approximately $52,000. Finally, Integrated Wealth Concepts LLC bought a new position in Getty Realty during the second quarter valued at approximately $67,000. 85.11% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft set a $39.00 price target on shares of Getty Realty in a research note on Wednesday, September 23rd. Citigroup reaffirmed a “market outperform” rating on shares of Getty Realty in a research note on Wednesday, September 23rd. Huntington started coverage on shares of Getty Realty in a report on Thursday, October 29th. They set a “strong-buy” rating on the stock. Weiss Ratings cut shares of Getty Realty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, October 28th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $39.00 target price on shares of Getty Realty in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.57.
View Our Latest Stock Report on Getty Realty
Getty Realty Trading Up 1.6%
Shares of GTY stock opened at $28.84 on Thursday. The business has a 50-day moving average of $29.52 and a 200 day moving average of $32.09. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.82 and a quick ratio of 2.82. Getty Realty Corporation has a 1-year low of $26.91 and a 1-year high of $36.83. The stock has a market capitalization of $1.94 billion, a PE ratio of 17.58, a P/E/G ratio of 1.92 and a beta of 0.69.
Getty Realty (NYSE:GTY – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Getty Realty had a return on equity of 8.93% and a net margin of 42.37%. The business had revenue of $62.99 million for the quarter, compared to analysts’ expectations of $59.18 million. During the same period in the previous year, the firm earned $0.62 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Getty Realty Corporation will post 2.45 earnings per share for the current year.
Getty Realty Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Thursday, December 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 6.9%. This is an increase from Getty Realty’s previous quarterly dividend of $0.4850. Getty Realty’s dividend payout ratio (DPR) is currently 121.95%.
Getty Realty Profile
Getty Realty Corp. is a real estate investment trust that owns, leases and develops convenience store, gasoline station and automotive service properties. Its portfolio also includes properties used for car washes, truck service, automotive parts and repairs, and other retail and service businesses.
The company generally leases its properties to operators under long-term, often triple-net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance.
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