Raymond James & Associates Sells 23,705 Shares of Getty Realty Corp. (NYSE:GTY)

Raymond James & Associates trimmed its holdings in Getty Realty Corp. (NYSE:GTY) by 58.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 16,825 shares of the real estate investment trust’s stock after selling 23,705 shares during the quarter. Raymond James & Associates’ holdings in Getty Realty were worth $492,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. abrdn plc lifted its holdings in Getty Realty by 8.4% in the third quarter. abrdn plc now owns 9,067 shares of the real estate investment trust’s stock valued at $251,000 after acquiring an additional 704 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Getty Realty by 16.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 10,230 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 1,469 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Getty Realty by 6.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,491 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 613 shares during the last quarter. Bailard Inc. grew its position in Getty Realty by 80.5% during the third quarter. Bailard Inc. now owns 10,761 shares of the real estate investment trust’s stock valued at $298,000 after buying an additional 4,800 shares during the period. Finally, UniSuper Management Pty Ltd increased its holdings in Getty Realty by 5.7% during the third quarter. UniSuper Management Pty Ltd now owns 12,900 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Getty Realty Trading Down 0.5 %

Shares of GTY opened at $26.91 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.73 and a quick ratio of 3.73. The company has a 50 day simple moving average of $26.89 and a two-hundred day simple moving average of $27.81. Getty Realty Corp. has a 1 year low of $25.90 and a 1 year high of $35.56. The firm has a market cap of $1.45 billion, a P/E ratio of 23.40 and a beta of 0.89.

Getty Realty (NYSE:GTY) last issued its quarterly earnings data on Wednesday, February 14th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.27). Getty Realty had a return on equity of 6.72% and a net margin of 32.37%. The firm had revenue of $45.62 million for the quarter, compared to analysts’ expectations of $47.19 million. On average, equities analysts expect that Getty Realty Corp. will post 2.31 earnings per share for the current fiscal year.

Getty Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 28th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.69%. The ex-dividend date of this dividend was Wednesday, March 27th. Getty Realty’s dividend payout ratio is 156.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GTY shares. StockNews.com upgraded Getty Realty from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. JMP Securities restated a “market outperform” rating and issued a $33.00 price target on shares of Getty Realty in a research report on Monday, March 25th.

About Getty Realty