Getty Realty Corporation $GTY Stake Boosted by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of Getty Realty Corporation (NYSE:GTY) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,418,927 shares of the real estate investment trust’s stock after buying an additional 44,766 shares during the period. Geode Capital Management LLC’s holdings in Getty Realty were worth $39,224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new stake in shares of Getty Realty during the first quarter valued at approximately $31,000. US Bancorp DE grew its position in Getty Realty by 52.4% during the 1st quarter. US Bancorp DE now owns 1,093 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 376 shares in the last quarter. Signaturefd LLC raised its stake in Getty Realty by 111.3% during the 2nd quarter. Signaturefd LLC now owns 1,386 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 730 shares during the period. Hantz Financial Services Inc. purchased a new stake in shares of Getty Realty in the second quarter valued at $72,000. Finally, Quarry LP boosted its position in shares of Getty Realty by 32.1% in the first quarter. Quarry LP now owns 3,706 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 900 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Getty Realty Stock Performance

Shares of GTY opened at $28.42 on Thursday. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 1.81 and a beta of 0.83. The company’s fifty day moving average is $27.31 and its 200-day moving average is $27.95. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.93. Getty Realty Corporation has a 12 month low of $25.39 and a 12 month high of $33.85.

Getty Realty (NYSE:GTY) last issued its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $55.59 million during the quarter, compared to analysts’ expectations of $53.19 million. Getty Realty had a net margin of 34.76% and a return on equity of 7.60%. Getty Realty has set its FY 2025 guidance at 2.420-2.430 EPS. Equities analysts expect that Getty Realty Corporation will post 2.29 EPS for the current fiscal year.

Getty Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Friday, December 26th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 6.8%. This is a positive change from Getty Realty’s previous quarterly dividend of $0.47. Getty Realty’s payout ratio is currently 151.56%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GTY. Janney Montgomery Scott began coverage on Getty Realty in a research report on Thursday, October 16th. They set a “buy” rating and a $30.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Getty Realty in a report on Wednesday, October 8th. UBS Group raised their price target on shares of Getty Realty from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Finally, Wall Street Zen raised shares of Getty Realty from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Getty Realty currently has an average rating of “Moderate Buy” and a consensus price target of $31.80.

About Getty Realty