LPL Financial LLC Buys 20,473 Shares of Getty Realty Corporation $GTY

LPL Financial LLC boosted its stake in Getty Realty Corporation (NYSE:GTY) by 30.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,476 shares of the real estate investment trust’s stock after acquiring an additional 20,473 shares during the period. LPL Financial LLC owned 0.16% of Getty Realty worth $2,759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BROOKFIELD Corp ON purchased a new position in shares of Getty Realty in the 4th quarter worth about $14,988,000. Marshall Wace LLP raised its position in shares of Getty Realty by 78.8% in the 4th quarter. Marshall Wace LLP now owns 512,268 shares of the real estate investment trust’s stock worth $15,435,000 after purchasing an additional 225,752 shares during the last quarter. Northern Trust Corp raised its position in Getty Realty by 23.5% in the 4th quarter. Northern Trust Corp now owns 722,654 shares of the real estate investment trust’s stock worth $21,774,000 after buying an additional 137,427 shares during the last quarter. Two Sigma Advisers LP raised its position in Getty Realty by 56.2% in the 4th quarter. Two Sigma Advisers LP now owns 360,000 shares of the real estate investment trust’s stock worth $10,847,000 after buying an additional 129,500 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in Getty Realty by 21.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 724,339 shares of the real estate investment trust’s stock worth $21,824,000 after buying an additional 125,491 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analyst Ratings Changes

GTY has been the subject of a number of recent analyst reports. Wall Street Zen lowered Getty Realty from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Robert W. Baird decreased their target price on Getty Realty from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. KeyCorp decreased their target price on Getty Realty from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Finally, UBS Group boosted their target price on Getty Realty from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.67.

Getty Realty Stock Performance

NYSE:GTY opened at $28.18 on Monday. The stock’s fifty day moving average is $28.07 and its 200 day moving average is $29.06. Getty Realty Corporation has a fifty-two week low of $26.42 and a fifty-two week high of $33.85. The firm has a market capitalization of $1.59 billion, a PE ratio of 24.50, a PEG ratio of 2.12 and a beta of 0.83. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.98 and a current ratio of 1.98.

Getty Realty (NYSE:GTY) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Getty Realty had a return on equity of 6.87% and a net margin of 31.62%. The business had revenue of $51.31 million during the quarter, compared to analysts’ expectations of $51.59 million. On average, sell-side analysts anticipate that Getty Realty Corporation will post 2.29 earnings per share for the current year.

Getty Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 25th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.7%. Getty Realty’s dividend payout ratio is presently 163.48%.

About Getty Realty