Getty Realty Corporation $GTY Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its stake in Getty Realty Corporation (NYSE:GTY) by 23.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,469 shares of the real estate investment trust’s stock after selling 48,334 shares during the period. Rhumbline Advisers owned approximately 0.27% of Getty Realty worth $4,252,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Advisors Asset Management Inc. acquired a new position in Getty Realty during the 1st quarter worth approximately $31,000. EverSource Wealth Advisors LLC raised its stake in shares of Getty Realty by 3,996.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,188 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,159 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Getty Realty during the second quarter valued at approximately $38,000. Farther Finance Advisors LLC lifted its position in shares of Getty Realty by 288.6% during the third quarter. Farther Finance Advisors LLC now owns 1,364 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 1,013 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Getty Realty by 56.6% in the third quarter. GAMMA Investing LLC now owns 2,317 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 837 shares during the period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GTY. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Getty Realty in a research note on Thursday, January 22nd. Royal Bank Of Canada raised their target price on Getty Realty from $30.00 to $33.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.60.

Getty Realty Trading Up 0.8%

GTY opened at $32.59 on Wednesday. Getty Realty Corporation has a 12-month low of $25.39 and a 12-month high of $34.02. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.20 and a quick ratio of 2.20. The stock has a market capitalization of $1.95 billion, a PE ratio of 24.32, a P/E/G ratio of 2.41 and a beta of 0.84. The firm’s fifty day moving average price is $29.67 and its 200 day moving average price is $28.45.

Getty Realty (NYSE:GTY) last announced its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The company had revenue of $60.55 million during the quarter, compared to analyst estimates of $55.94 million. Getty Realty had a net margin of 35.72% and a return on equity of 7.86%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, research analysts expect that Getty Realty Corporation will post 2.29 EPS for the current fiscal year.

Getty Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 26th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Thursday, March 26th. Getty Realty’s payout ratio is currently 144.78%.

Getty Realty Profile

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company’s portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.