Getty Realty Corporation (GTY) Shares Sold by Renaissance Group LLC
Renaissance Group LLC reduced its position in Getty Realty Corporation (NYSE:GTY) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,413 shares of the real estate investment trust’s stock after selling 9 shares during the period. Renaissance Group LLC’s holdings in Getty Realty Corporation were worth $362,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue raised its position in Getty Realty Corporation by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 5,330 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 2,350 shares during the period. Mason Street Advisors LLC raised its position in Getty Realty Corporation by 9.0% in the first quarter. Mason Street Advisors LLC now owns 6,306 shares of the real estate investment trust’s stock worth $159,000 after buying an additional 521 shares during the period. Municipal Employees Retirement System of Michigan raised its position in Getty Realty Corporation by 6.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,368 shares of the real estate investment trust’s stock worth $160,000 after buying an additional 370 shares during the period. Credit Agricole S A raised its position in Getty Realty Corporation by 59.0% in the first quarter. Credit Agricole S A now owns 7,428 shares of the real estate investment trust’s stock worth $188,000 after buying an additional 2,756 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in Getty Realty Corporation during the second quarter worth $268,000. 52.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Getty Realty Corporation (GTY) opened at 27.17 on Thursday. The stock has a market cap of $1.07 billion, a P/E ratio of 22.47 and a beta of 0.54. The firm has a 50-day moving average price of $25.49 and a 200-day moving average price of $25.58. Getty Realty Corporation has a 52-week low of $21.71 and a 52-week high of $27.64.
Getty Realty Corporation (NYSE:GTY) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. Getty Realty Corporation had a net margin of 36.50% and a return on equity of 10.28%. The firm had revenue of $24.83 million for the quarter, compared to analyst estimates of $25.20 million. During the same period in the previous year, the business earned $0.42 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. On average, analysts anticipate that Getty Realty Corporation will post $1.26 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Thursday, September 21st will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Wednesday, September 20th. Getty Realty Corporation’s dividend payout ratio (DPR) is presently 92.56%.
A number of research firms have weighed in on GTY. Canaccord Genuity began coverage on Getty Realty Corporation in a research note on Tuesday, July 18th. They set a “buy” rating and a $32.00 price objective on the stock. BidaskClub raised Getty Realty Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Getty Realty Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Finally, ValuEngine raised Getty Realty Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $27.00.
Getty Realty Corporation Company Profile
Getty Realty Corp. is a real estate investment trust (REIT). The Company specializes in the ownership, leasing and financing of convenience store and gasoline station properties. As of June 30, 2017, the Company’s 825 properties were located in 26 states across the United States and Washington, District of Columbia.
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