Envestnet Asset Management Inc. Has $6.91 Million Holdings in Getty Realty Corporation $GTY

Envestnet Asset Management Inc. trimmed its position in shares of Getty Realty Corporation (NYSE:GTY) by 11.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 257,482 shares of the real estate investment trust’s stock after selling 34,619 shares during the period. Envestnet Asset Management Inc. owned 0.45% of Getty Realty worth $6,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new position in shares of Getty Realty in the 1st quarter valued at about $31,000. EverSource Wealth Advisors LLC grew its holdings in Getty Realty by 3,996.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,188 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,159 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in Getty Realty during the second quarter worth approximately $38,000. Farther Finance Advisors LLC raised its stake in Getty Realty by 288.6% in the third quarter. Farther Finance Advisors LLC now owns 1,364 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 1,013 shares during the period. Finally, GAMMA Investing LLC raised its stake in Getty Realty by 56.6% in the third quarter. GAMMA Investing LLC now owns 2,317 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 837 shares during the period. 85.11% of the stock is owned by institutional investors.

Getty Realty Stock Performance

NYSE:GTY opened at $31.80 on Friday. The stock has a 50 day simple moving average of $29.52 and a 200 day simple moving average of $28.39. The stock has a market cap of $1.90 billion, a P/E ratio of 23.73, a PEG ratio of 2.38 and a beta of 0.84. Getty Realty Corporation has a 1-year low of $25.39 and a 1-year high of $34.02. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.93.

Getty Realty (NYSE:GTY) last posted its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The firm had revenue of $60.55 million for the quarter, compared to analysts’ expectations of $55.94 million. Getty Realty had a return on equity of 7.86% and a net margin of 35.72%.The business’s revenue was up 14.2% compared to the same quarter last year. Research analysts anticipate that Getty Realty Corporation will post 2.29 earnings per share for the current year.

Getty Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 26th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $1.94 annualized dividend and a dividend yield of 6.1%. Getty Realty’s dividend payout ratio (DPR) is currently 144.78%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GTY. Royal Bank Of Canada lifted their target price on Getty Realty from $30.00 to $33.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Getty Realty in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Getty Realty presently has a consensus rating of “Hold” and an average price target of $31.60.

Getty Realty Company Profile

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company’s portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.