Getty Realty Corporation (GTY) Stake Lessened by Virginia Retirement Systems ET AL
Virginia Retirement Systems ET AL reduced its position in shares of Getty Realty Corporation (NYSE:GTY) by 23.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,700 shares of the real estate investment trust’s stock after selling 7,100 shares during the period. Virginia Retirement Systems ET AL owned about 0.06% of Getty Realty worth $649,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Getty Realty in the third quarter valued at $158,000. Municipal Employees Retirement System of Michigan lifted its position in Getty Realty 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 valued at $160,000 after acquiring an additional 370 shares during the last quarter. D.A. Davidson & CO. lifted its position in Getty Realty by 2.4% in the second quarter. D.A. Davidson & CO. now owns 7,755 shares of the real estate investment trust’s stock valued at $194,000 after acquiring an additional 180 shares during the last quarter. Nine Chapters Capital Management LLC purchased a new stake in Getty Realty in the third quarter valued at $235,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Getty Realty in the third quarter valued at $273,000. 61.50% of the stock is owned by institutional investors and hedge funds.
Shares of Getty Realty Corporation (NYSE:GTY) traded up $0.08 during trading hours on Monday, hitting $28.10. 19,101 shares of the stock were exchanged, compared to its average volume of 202,138. Getty Realty Corporation has a 1-year low of $22.91 and a 1-year high of $29.89. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1,110.00, a PE ratio of 15.65, a price-to-earnings-growth ratio of 6.10 and a beta of 0.54.
Getty Realty (NYSE:GTY) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.21). Getty Realty had a net margin of 36.66% and a return on equity of 9.62%. The business had revenue of $29.50 million during the quarter, compared to analysts’ expectations of $27.35 million. During the same period in the previous year, the company posted $0.47 earnings per share. Getty Realty’s quarterly revenue was up 3.5% on a year-over-year basis. equities research analysts forecast that Getty Realty Corporation will post 1.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 21st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.56%. This is a boost from Getty Realty’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 20th. Getty Realty’s dividend payout ratio is presently 96.55%.
A number of brokerages recently weighed in on GTY. Zacks Investment Research raised shares of Getty Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, November 28th. Bank of America began coverage on shares of Getty Realty in a research report on Wednesday, September 6th. They issued a “buy” rating and a $30.00 price target for the company. Finally, ValuEngine raised shares of Getty Realty from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Getty Realty currently has an average rating of “Buy” and an average price target of $28.75.
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About Getty Realty
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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