Principal Financial Group Inc. Sells 7,305 Shares of Getty Realty Corp. (NYSE:GTY)

Principal Financial Group Inc. reduced its stake in shares of Getty Realty Corp. (NYSE:GTY) by 3.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 234,981 shares of the real estate investment trust’s stock after selling 7,305 shares during the period. Principal Financial Group Inc. owned about 0.43% of Getty Realty worth $7,475,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jane Street Group LLC lifted its stake in Getty Realty by 149.1% in the third quarter. Jane Street Group LLC now owns 96,423 shares of the real estate investment trust’s stock valued at $3,067,000 after purchasing an additional 57,712 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Getty Realty by 79.9% in the third quarter. Stifel Financial Corp now owns 198,761 shares of the real estate investment trust’s stock valued at $6,323,000 after buying an additional 88,253 shares during the period. Barclays PLC lifted its position in shares of Getty Realty by 409.6% during the 3rd quarter. Barclays PLC now owns 103,121 shares of the real estate investment trust’s stock valued at $3,281,000 after buying an additional 82,887 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Getty Realty by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,279,650 shares of the real estate investment trust’s stock worth $40,713,000 after acquiring an additional 16,252 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Getty Realty in the 3rd quarter worth about $495,000. 85.11% of the stock is owned by institutional investors.

Getty Realty Trading Up 0.7 %

Shares of GTY opened at $30.13 on Wednesday. Getty Realty Corp. has a twelve month low of $25.70 and a twelve month high of $33.85. The stock has a market cap of $1.66 billion, a PE ratio of 25.75 and a beta of 0.92. 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 business’s 50-day moving average price is $31.83 and its 200-day moving average price is $30.83.

Getty Realty (NYSE:GTY) last posted 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 firm had revenue of $51.47 million for the quarter, compared to the consensus estimate of $49.79 million. During the same period last year, the company posted $0.57 EPS. On average, equities analysts forecast that Getty Realty Corp. will post 2.23 EPS for the current fiscal year.

Getty Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 26th will be paid a $0.47 dividend. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date is Thursday, December 26th. Getty Realty’s dividend payout ratio is currently 160.68%.

Wall Street Analyst Weigh In

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

Getty Realty Company Profile