Getty Realty Corp. (NYSE:GTY) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in Getty Realty Corp. (NYSE:GTYGet Rating) by 36.4% in the 3rd quarter, Holdings Channel reports. The firm owned 2,432 shares of the real estate investment trust’s stock after selling 1,394 shares during the quarter. Van ECK Associates Corp’s holdings in Getty Realty were worth $65,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Wipfli Financial Advisors LLC acquired a new stake in Getty Realty in the 3rd quarter valued at $26,000. Meritage Portfolio Management increased its holdings in Getty Realty by 5.8% in the 3rd quarter. Meritage Portfolio Management now owns 87,850 shares of the real estate investment trust’s stock valued at $2,362,000 after purchasing an additional 4,782 shares in the last quarter. Texas Permanent School Fund increased its holdings in Getty Realty by 4.1% in the 3rd quarter. Texas Permanent School Fund now owns 30,588 shares of the real estate investment trust’s stock valued at $823,000 after purchasing an additional 1,201 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Getty Realty by 15.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 16,810 shares of the real estate investment trust’s stock valued at $452,000 after purchasing an additional 2,252 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Getty Realty by 4.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 50,712 shares of the real estate investment trust’s stock valued at $1,364,000 after purchasing an additional 2,204 shares in the last quarter. 74.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GTY. JMP Securities raised their target price on Getty Realty from $34.00 to $37.00 and gave the company a “market outperform” rating in a research note on Thursday, January 5th. BTIG Research lowered their target price on Getty Realty from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, October 14th. Robert W. Baird downgraded Getty Realty from an “outperform” rating to a “neutral” rating and raised their target price for the company from $33.00 to $34.00 in a research note on Thursday, January 5th. LADENBURG THALM/SH SH lowered their target price on Getty Realty from $35.50 to $34.00 in a research note on Tuesday, November 1st. Finally, StockNews.com downgraded Getty Realty from a “buy” rating to a “hold” rating in a research note on Friday, October 7th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Getty Realty has an average rating of “Hold” and a consensus price target of $33.00.

Getty Realty Stock Performance

Shares of NYSE GTY opened at $35.49 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average price is $33.84 and its two-hundred day moving average price is $30.67. Getty Realty Corp. has a 52-week low of $24.66 and a 52-week high of $35.77. The stock has a market capitalization of $1.66 billion, a P/E ratio of 21.13, a P/E/G ratio of 2.75 and a beta of 0.85.

Getty Realty (NYSE:GTYGet Rating) last issued its earnings results on Wednesday, October 26th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.23). Getty Realty had a return on equity of 10.77% and a net margin of 49.91%. The business had revenue of $41.53 million during the quarter, compared to the consensus estimate of $41.39 million. As a group, sell-side analysts forecast that Getty Realty Corp. will post 2.34 earnings per share for the current year.

Getty Realty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Stockholders of record on Thursday, December 22nd were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date was Wednesday, December 21st. This is a boost from Getty Realty’s previous quarterly dividend of $0.41. Getty Realty’s payout ratio is 102.38%.

Getty Realty Company Profile

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Further Reading

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Institutional Ownership by Quarter for Getty Realty (NYSE:GTY)

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