Getty Realty Corporation $GTY Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management decreased its holdings in shares of Getty Realty Corporation (NYSE:GTY) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,503 shares of the real estate investment trust’s stock after selling 2,916 shares during the quarter. Meritage Portfolio Management owned about 0.20% of Getty Realty worth $3,027,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new position in Getty Realty in the first quarter valued at about $31,000. US Bancorp DE boosted its holdings in Getty Realty by 52.4% in the 1st quarter. US Bancorp DE now owns 1,093 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 376 shares during the period. Signaturefd LLC boosted its holdings in Getty Realty by 111.3% in the 2nd quarter. Signaturefd LLC now owns 1,386 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 730 shares during the period. Quarry LP grew its position in Getty Realty by 32.1% in the first quarter. Quarry LP now owns 3,706 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 900 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Getty Realty by 11.6% during the first quarter. PNC Financial Services Group Inc. now owns 3,933 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 409 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Getty Realty Stock Down 0.0%

Getty Realty stock opened at $25.78 on Monday. 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 Corporation has a one year low of $25.62 and a one year high of $33.85. The company has a 50-day simple moving average of $27.81 and a 200-day simple moving average of $28.19. The firm has a market capitalization of $1.46 billion, a P/E ratio of 22.42, a P/E/G ratio of 1.86 and a beta of 0.82.

Getty Realty (NYSE:GTY) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $51.31 million for the quarter, compared to analyst estimates of $51.59 million. Getty Realty had a net margin of 31.62% and a return on equity of 6.87%. Getty Realty has set its FY 2025 guidance at 2.400-2.41 EPS. As a group, equities analysts expect that Getty Realty Corporation will post 2.29 earnings per share for the current year.

Getty Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 25th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $1.88 annualized dividend and a yield of 7.3%. Getty Realty’s payout ratio is presently 163.48%.

Analyst Ratings Changes

Several brokerages have recently weighed in on GTY. Weiss Ratings restated a “hold (c)” rating on shares of Getty Realty in a research note on Wednesday, October 8th. UBS Group boosted their price objective on shares of Getty Realty from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Finally, Wall Street Zen upgraded Getty Realty from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

About Getty Realty