Getty Realty Corp. (NYSE:GTY) Short Interest Down 8.5% in October

Getty Realty Corp. (NYSE:GTY) saw a significant drop in short interest in October. As of October 15th, there was short interest totalling 2,160,000 shares, a drop of 8.5% from the September 30th total of 2,360,000 shares. Based on an average trading volume of 337,100 shares, the short-interest ratio is presently 6.4 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Clear Creek Financial Management LLC boosted its stake in shares of Getty Realty by 5.0% during the 2nd quarter. Clear Creek Financial Management LLC now owns 7,915 shares of the real estate investment trust’s stock worth $211,000 after acquiring an additional 375 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Getty Realty by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the real estate investment trust’s stock worth $659,000 after acquiring an additional 400 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Getty Realty by 0.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 55,470 shares of the real estate investment trust’s stock worth $1,517,000 after acquiring an additional 455 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Getty Realty by 34.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,990 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 513 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Getty Realty by 1.0% during the 1st quarter. State of Alaska Department of Revenue now owns 52,485 shares of the real estate investment trust’s stock worth $1,434,000 after acquiring an additional 533 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GTY shares. JPMorgan Chase & Co. raised their price target on shares of Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. JMP Securities raised their price target on shares of Getty Realty from $31.50 to $33.00 and gave the company a “market outperform” rating in a research report on Thursday, July 25th. Finally, Bank of America raised shares of Getty Realty from a “neutral” rating to a “buy” rating and raised their price target for the company from $31.00 to $34.00 in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.50.

Getty Realty Stock Performance

NYSE:GTY traded down $0.51 during trading hours on Thursday, reaching $31.40. The company had a trading volume of 211,995 shares, compared to its average volume of 286,664. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.88. Getty Realty has a 52 week low of $25.70 and a 52 week high of $33.23. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 26.84 and a beta of 0.92. The firm’s 50 day moving average price is $31.75 and its 200-day moving average price is $29.45.

Getty Realty (NYSE:GTY) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.28). Getty Realty had a return on equity of 6.98% and a net margin of 33.49%. The company had revenue of $51.47 million during the quarter, compared to the consensus estimate of $49.79 million. During the same period last year, the firm posted $0.57 EPS. On average, analysts forecast that Getty Realty will post 2.21 EPS for the current year.

Getty Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Thursday, December 26th. This is a boost from Getty Realty’s previous quarterly dividend of $0.45. Getty Realty’s dividend payout ratio (DPR) is currently 160.68%.

Getty Realty Company Profile