Bank of New York Mellon Corp Buys 50,896 Shares of Getty Realty Corp. (GTY)
Bank of New York Mellon Corp lifted its stake in Getty Realty Corp. (NYSE:GTY) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 725,249 shares of the real estate investment trust’s stock after purchasing an additional 50,896 shares during the quarter. Bank of New York Mellon Corp owned about 1.83% of Getty Realty worth $20,749,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in GTY. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Getty Realty by 6.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,368 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 370 shares during the period. D.A. Davidson & CO. boosted its holdings in Getty Realty by 2.4% during the 2nd quarter. D.A. Davidson & CO. now owns 7,755 shares of the real estate investment trust’s stock valued at $194,000 after acquiring an additional 180 shares during the period. Nine Chapters Capital Management LLC purchased a new position in Getty Realty during the 3rd quarter valued at $235,000. Crossmark Global Holdings Inc. purchased a new position in Getty Realty during the 3rd quarter valued at $273,000. Finally, Neuberger Berman Group LLC boosted its holdings in Getty Realty by 38.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 15,016 shares of the real estate investment trust’s stock valued at $377,000 after acquiring an additional 4,192 shares during the period. Hedge funds and other institutional investors own 61.50% of the company’s stock.
Getty Realty Corp. (NYSE GTY) opened at $28.02 on Friday. Getty Realty Corp. has a 1-year low of $22.91 and a 1-year high of $29.89. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1,101.15, a price-to-earnings ratio of 15.53, a P/E/G ratio of 6.11 and a beta of 0.54.
Getty Realty (NYSE:GTY) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.21). Getty Realty had a net margin of 36.66% and a return on equity of 9.62%. The business had revenue of $29.50 million for the quarter, compared to analysts’ expectations of $27.35 million. During the same quarter in the previous year, the firm earned $0.47 EPS. Getty Realty’s revenue was up 3.5% compared to the same quarter last year. equities analysts expect that Getty Realty Corp. will post 1.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 21st will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, December 20th. This is a positive change from Getty Realty’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 4.57%. Getty Realty’s payout ratio is 94.12%.
A number of research firms recently issued reports on GTY. KeyCorp began coverage on Getty Realty in a report on Tuesday. They set a “sector weight” rating for the company. Zacks Investment Research cut Getty Realty from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 27th. Bank of America began coverage on Getty Realty in a report on Wednesday, September 6th. They set a “buy” rating and a $30.00 price objective for the company. Finally, ValuEngine upgraded Getty Realty from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $28.75.
Getty Realty Company Profile
Getty Realty Corp. is a real estate investment trust (REIT). The Company specializes in the ownership, leasing and financing of convenience store and gasoline station properties. As of June 30, 2017, the Company’s 825 properties were located in 26 states across the United States and Washington, District of Columbia.
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