Allspring Global Investments Holdings LLC Sells 430 Shares of Getty Realty Corp. (NYSE:GTY)

Allspring Global Investments Holdings LLC cut its stake in Getty Realty Corp. (NYSE:GTY) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,627 shares of the real estate investment trust’s stock after selling 430 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Getty Realty were worth $211,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Getty Realty during the second quarter valued at about $29,000. Point72 Hong Kong Ltd acquired a new position in Getty Realty in the 2nd quarter valued at approximately $30,000. Rothschild Investment LLC acquired a new position in Getty Realty in the 2nd quarter valued at approximately $81,000. Point72 Asset Management L.P. acquired a new stake in shares of Getty Realty during the 2nd quarter worth approximately $162,000. Finally, Chilton Capital Management LLC increased its position in shares of Getty Realty by 10.4% during the first quarter. Chilton Capital Management LLC now owns 7,212 shares of the real estate investment trust’s stock valued at $199,000 after purchasing an additional 680 shares during the period. 85.11% of the stock is owned by institutional investors.

Getty Realty Price Performance

Shares of NYSE:GTY opened at $31.39 on Monday. The company’s fifty day moving average is $31.76 and its 200-day moving average is $29.54. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.44 and a current ratio of 2.44. Getty Realty Corp. has a 52 week low of $25.70 and a 52 week high of $33.23. The company has a market capitalization of $1.73 billion, a PE ratio of 26.83 and a beta of 0.91.

Getty Realty (NYSE:GTY) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.28). The firm had revenue of $51.47 million during the quarter, compared to analyst estimates of $49.79 million. Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. During the same quarter last year, the firm earned $0.57 earnings per share. Equities research analysts predict that Getty Realty Corp. will post 2.21 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 26th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 5.99%. This is a boost from Getty Realty’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, December 26th. Getty Realty’s dividend payout ratio (DPR) is currently 153.85%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GTY shares. JPMorgan Chase & Co. raised their target price on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. JMP Securities lifted their target price on shares of Getty Realty from $31.50 to $33.00 and gave the company a “market outperform” rating in a research report on Thursday, July 25th. Finally, Bank of America raised shares of Getty Realty from a “neutral” rating to a “buy” rating and increased their price target for the stock from $31.00 to $34.00 in a research report on Monday, October 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.50.

Getty Realty Profile