Arizona State Retirement System lifted its stake in shares of Getty Realty Corp. (NYSE:GTY – Free Report) by 8.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,481 shares of the real estate investment trust’s stock after buying an additional 971 shares during the period. Arizona State Retirement System’s holdings in Getty Realty were worth $422,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Natixis bought a new position in shares of Getty Realty in the 4th quarter worth $42,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Getty Realty by 92.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,656 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 795 shares in the last quarter. FMR LLC lifted its holdings in shares of Getty Realty by 68.3% in the 1st quarter. FMR LLC now owns 1,703 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 691 shares in the last quarter. Advisory Services Network LLC lifted its holdings in shares of Getty Realty by 80.7% in the 1st quarter. Advisory Services Network LLC now owns 1,809 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 808 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of Getty Realty in the 2nd quarter worth $75,000. Institutional investors and hedge funds own 83.55% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on GTY. StockNews.com initiated coverage on Getty Realty in a report on Thursday, October 5th. They issued a “hold” rating on the stock. JMP Securities dropped their price objective on Getty Realty from $39.00 to $33.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 19th.
Getty Realty Price Performance
Shares of NYSE:GTY opened at $28.14 on Tuesday. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 0.81. The stock’s fifty day simple moving average is $28.28 and its two-hundred day simple moving average is $31.42. Getty Realty Corp. has a 1-year low of $25.95 and a 1-year high of $36.49. The stock has a market cap of $1.48 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 8.09 and a beta of 0.88.
Getty Realty Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Thursday, December 28th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.40%. This is a boost from Getty Realty’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, December 27th. Getty Realty’s payout ratio is presently 121.13%.
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