Handelsbanken Fonder AB Invests $304,000 in Getty Realty Corp. (NYSE:GTY)

Handelsbanken Fonder AB acquired a new stake in Getty Realty Corp. (NYSE:GTY) in the fourth quarter, HoldingsChannel reports. The firm acquired 10,416 shares of the real estate investment trust’s stock, valued at approximately $304,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners raised its holdings in Getty Realty by 120.7% in the 3rd quarter. Boston Partners now owns 175,092 shares of the real estate investment trust’s stock valued at $4,855,000 after acquiring an additional 95,760 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Getty Realty by 48.8% in the third quarter. Envestnet Asset Management Inc. now owns 240,443 shares of the real estate investment trust’s stock valued at $6,667,000 after purchasing an additional 78,903 shares during the last quarter. GraniteShares Advisors LLC purchased a new position in Getty Realty during the fourth quarter worth about $1,473,000. Invesco Ltd. boosted its stake in Getty Realty by 11.4% in the 3rd quarter. Invesco Ltd. now owns 460,215 shares of the real estate investment trust’s stock worth $12,762,000 after buying an additional 47,192 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in Getty Realty in the 3rd quarter valued at about $1,054,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Getty Realty Price Performance

GTY stock opened at $27.65 on Friday. The company has a market cap of $1.49 billion, a PE ratio of 23.63 and a beta of 0.88. The company has a current ratio of 3.37, a quick ratio of 3.73 and a debt-to-equity ratio of 0.84. The stock has a 50-day moving average price of $26.90 and a two-hundred day moving average price of $27.80. Getty Realty Corp. has a 12-month low of $25.90 and a 12-month high of $35.56.

Getty Realty (NYSE:GTY) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.27). Getty Realty had a return on equity of 6.80% and a net margin of 32.74%. The firm had revenue of $48.97 million for the quarter, compared to analysts’ expectations of $46.63 million. During the same quarter in the previous year, the firm posted $0.56 EPS. As a group, research analysts predict that Getty Realty Corp. will post 2.31 EPS for the current year.

Getty Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 27th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.51%. The ex-dividend date of this dividend is Thursday, June 27th. Getty Realty’s dividend payout ratio (DPR) is currently 153.85%.

Wall Street Analyst Weigh In

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

About Getty Realty