Getty Realty Corp. (NYSE:GTY) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in Getty Realty Corp. (NYSE:GTY) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,946 shares of the real estate investment trust’s stock after selling 612 shares during the period. Franklin Resources Inc.’s holdings in Getty Realty were worth $528,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Verition Fund Management LLC acquired a new stake in shares of Getty Realty in the third quarter valued at about $10,119,000. NFJ Investment Group LLC acquired a new stake in Getty Realty in the third quarter valued at approximately $9,231,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Getty Realty by 493.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 317,380 shares of the real estate investment trust’s stock valued at $10,096,000 after purchasing an additional 263,938 shares during the period. State Street Corp lifted its position in shares of Getty Realty by 4.6% during the third quarter. State Street Corp now owns 3,920,520 shares of the real estate investment trust’s stock worth $126,411,000 after purchasing an additional 172,631 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of Getty Realty by 38.1% in the third quarter. Natixis Advisors LLC now owns 603,023 shares of the real estate investment trust’s stock valued at $19,182,000 after purchasing an additional 166,345 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GTY has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Bank of America raised Getty Realty from a “neutral” rating to a “buy” rating and increased their price target for the company from $31.00 to $34.00 in a report on Monday, October 21st. Finally, KeyCorp upgraded Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 price objective for the company in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.75.

Getty Realty Trading Up 0.4 %

NYSE:GTY opened at $29.93 on Tuesday. Getty Realty Corp. has a 52 week low of $25.70 and a 52 week high of $33.85. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.87. The company has a market cap of $1.65 billion, a PE ratio of 25.58 and a beta of 0.92. The business’s 50 day moving average is $31.88 and its two-hundred day moving average is $30.80.

Getty Realty (NYSE:GTY) last issued its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.28). Getty Realty had a return on equity of 6.84% and a net margin of 32.97%. The business had revenue of $51.47 million for the quarter, compared to analyst estimates of $49.79 million. During the same period last year, the company posted $0.57 earnings per share. On average, analysts predict that Getty Realty Corp. will post 2.23 EPS for the current year.

Getty Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, December 26th. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 6.28%. Getty Realty’s dividend payout ratio is 160.68%.

Getty Realty Company Profile