Wilmington Savings Fund Society FSB Purchases New Stake in Getty Realty Corp. (NYSE:GTY)

Wilmington Savings Fund Society FSB acquired a new position in Getty Realty Corp. (NYSE:GTY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,400 shares of the real estate investment trust’s stock, valued at approximately $140,000.

A number of other hedge funds have also recently added to or reduced their stakes in GTY. Verition Fund Management LLC bought a new position in shares of Getty Realty in the 3rd quarter worth about $10,119,000. NFJ Investment Group LLC acquired a new stake in Getty Realty during the third quarter worth about $9,231,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Getty Realty by 493.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 317,380 shares of the real estate investment trust’s stock worth $10,096,000 after acquiring an additional 263,938 shares during the last quarter. State Street Corp boosted its stake in Getty Realty by 4.6% in the third quarter. State Street Corp now owns 3,920,520 shares of the real estate investment trust’s stock valued at $126,411,000 after acquiring an additional 172,631 shares during the period. Finally, Natixis Advisors LLC boosted its stake in Getty Realty by 38.1% in the third quarter. Natixis Advisors LLC now owns 603,023 shares of the real estate investment trust’s stock valued at $19,182,000 after acquiring an additional 166,345 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. KeyCorp upgraded Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 price target on the stock in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Bank of America upgraded Getty Realty from a “neutral” rating to a “buy” rating and raised their target price for the company from $31.00 to $34.00 in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.75.

Getty Realty Stock Performance

GTY opened at $30.26 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average is $32.05 and its 200-day moving average is $30.59. The stock has a market cap of $1.66 billion, a PE ratio of 25.86 and a beta of 0.92. Getty Realty Corp. has a twelve month low of $25.70 and a twelve month high of $33.85.

Getty Realty (NYSE:GTY) last announced its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.28). The business had revenue of $51.47 million for the quarter, compared to analyst estimates of $49.79 million. Getty Realty had a return on equity of 6.84% and a net margin of 32.97%. During the same quarter last year, the firm posted $0.57 EPS. On average, analysts predict that Getty Realty Corp. will post 2.23 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. Investors of record on Thursday, December 26th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Thursday, December 26th. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45. Getty Realty’s dividend payout ratio is currently 160.68%.

Getty Realty Profile