Getty Realty Corp. (NYSE:GTY) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. trimmed its holdings in shares of Getty Realty Corp. (NYSE:GTY) by 1.0% during the third quarter, Holdings Channel reports. The fund owned 139,986 shares of the real estate investment trust’s stock after selling 1,395 shares during the quarter. Congress Asset Management Co.’s holdings in Getty Realty were worth $4,453,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Getty Realty during the 2nd quarter worth approximately $29,000. Point72 Hong Kong Ltd acquired a new stake in shares of Getty Realty during the second quarter worth approximately $30,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Getty Realty by 34.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,990 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 513 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Getty Realty in the second quarter valued at $81,000. Finally, Point72 Asset Management L.P. bought a new position in Getty Realty during the 2nd quarter valued at $162,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

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

Getty Realty Stock Performance

NYSE GTY opened at $31.39 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.44 and a current ratio of 2.44. Getty Realty Corp. has a one year low of $25.70 and a one year high of $33.23. The company has a 50-day simple moving average of $31.77 and a 200-day simple moving average of $29.46. The firm has a market capitalization of $1.73 billion, a PE ratio of 26.83 and a beta of 0.92.

Getty Realty (NYSE:GTY) last issued 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). The company had revenue of $51.47 million during the quarter, compared to analyst estimates of $49.79 million. Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. During the same quarter in the previous year, the firm earned $0.57 earnings per share. On average, equities analysts forecast that Getty Realty Corp. will post 2.21 earnings per share for the current year.

Getty Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 26th will be given a $0.47 dividend. The ex-dividend date is Thursday, December 26th. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 5.99%. Getty Realty’s dividend payout ratio (DPR) is currently 160.68%.

Getty Realty Company Profile