Principal Financial Group Inc. lessened its stake in shares of Getty Realty Corp. (NYSE:GTY – Free Report) by 0.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 266,423 shares of the real estate investment trust’s stock after selling 576 shares during the period. Principal Financial Group Inc. owned 0.53% of Getty Realty worth $9,010,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of Getty Realty by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 585,653 shares of the real estate investment trust’s stock worth $16,762,000 after buying an additional 7,892 shares in the last quarter. HighTower Advisors LLC raised its position in Getty Realty by 7.7% during the first quarter. HighTower Advisors LLC now owns 15,914 shares of the real estate investment trust’s stock valued at $456,000 after purchasing an additional 1,133 shares during the period. MetLife Investment Management LLC raised its position in Getty Realty by 56.8% during the first quarter. MetLife Investment Management LLC now owns 22,011 shares of the real estate investment trust’s stock valued at $630,000 after purchasing an additional 7,969 shares during the period. Rhumbline Advisers raised its position in Getty Realty by 36.8% during the first quarter. Rhumbline Advisers now owns 155,688 shares of the real estate investment trust’s stock valued at $4,456,000 after purchasing an additional 41,905 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Getty Realty by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,008 shares of the real estate investment trust’s stock valued at $973,000 after purchasing an additional 4,193 shares during the period. Institutional investors own 83.55% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on GTY shares. StockNews.com started coverage on Getty Realty in a research report on Thursday, October 5th. They set a “hold” rating on the stock. JMP Securities decreased their price objective on Getty Realty from $39.00 to $33.00 and set a “market outperform” rating on the stock in a research report on Thursday, October 19th. Finally, Royal Bank of Canada decreased their price objective on Getty Realty from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.33.
Getty Realty Trading Up 0.9 %
GTY opened at $29.03 on Tuesday. Getty Realty Corp. has a one year low of $25.95 and a one year high of $36.49. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 8.46 and a beta of 0.88. The stock’s 50 day moving average price is $27.90 and its 200-day moving average price is $31.06. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.19 and a current ratio of 4.19.
Getty Realty (NYSE:GTY – Get Free Report) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.25). Getty Realty had a return on equity of 8.39% and a net margin of 39.13%. The firm had revenue of $48.85 million during the quarter, compared to the consensus estimate of $44.68 million. On average, equities analysts forecast that Getty Realty Corp. will post 2.25 EPS for the current year.
Getty Realty Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Thursday, December 28th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, December 27th. This represents a $1.80 annualized dividend and a yield of 6.20%. This is a boost from Getty Realty’s previous quarterly dividend of $0.43. Getty Realty’s dividend payout ratio is 126.76%.
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