Everence Capital Management Inc. Acquires New Stake in Getty Realty Corp. (NYSE:GTY)

Everence Capital Management Inc. acquired a new stake in shares of Getty Realty Corp. (NYSE:GTY) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,400 shares of the real estate investment trust’s stock, valued at approximately $245,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GTY. Bank of New York Mellon Corp increased its position in Getty Realty by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 585,653 shares of the real estate investment trust’s stock valued at $16,762,000 after buying an additional 7,892 shares in the last quarter. HighTower Advisors LLC increased its position in Getty Realty by 7.7% during the 1st quarter. HighTower Advisors LLC now owns 15,914 shares of the real estate investment trust’s stock valued at $456,000 after buying an additional 1,133 shares in the last quarter. MetLife Investment Management LLC increased its position in Getty Realty by 56.8% during the 1st quarter. MetLife Investment Management LLC now owns 22,011 shares of the real estate investment trust’s stock valued at $630,000 after buying an additional 7,969 shares in the last quarter. Rhumbline Advisers increased its position in Getty Realty by 36.8% during the 1st quarter. Rhumbline Advisers now owns 155,688 shares of the real estate investment trust’s stock valued at $4,456,000 after buying an additional 41,905 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Getty Realty by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,008 shares of the real estate investment trust’s stock valued at $973,000 after purchasing an additional 4,193 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on GTY shares. JMP Securities reiterated a “market outperform” rating and set a $33.00 target price on shares of Getty Realty in a research note on Monday, March 25th. StockNews.com downgraded Getty Realty from a “hold” rating to a “sell” rating in a research note on Saturday, April 13th.

Getty Realty Stock Performance

Shares of GTY opened at $26.50 on Friday. The business’s fifty day simple moving average is $26.90 and its two-hundred day simple moving average is $27.82. The company has a current ratio of 3.73, a quick ratio of 3.73 and a debt-to-equity ratio of 0.79. Getty Realty Corp. has a 12 month low of $25.90 and a 12 month high of $35.56. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 23.04 and a beta of 0.89.

Getty Realty (NYSE:GTY) last released its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.27). The firm had revenue of $45.62 million during the quarter, compared to analysts’ expectations of $47.19 million. Getty Realty had a return on equity of 6.72% and a net margin of 32.37%. Research analysts anticipate that Getty Realty Corp. will post 2.31 earnings per share for the current fiscal year.

Getty Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 28th were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.79%. Getty Realty’s dividend payout ratio (DPR) is currently 156.52%.

About Getty Realty