SG Americas Securities LLC decreased its stake in Getty Realty Corp. by 60.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm now owns 11,715 shares of the real estate investment trust’s stock, valued at $396,000, after selling 17,678 shares during the period.
Other institutional investors have also made changes to their positions in GTY. Wellington Management Group LLP increased its stake in Getty Realty by 145.1% in the first quarter. Wellington Management now owns 2,033,521 shares of the company’s stock, valued at $73,268,000, after purchasing an additional 1,203,892 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Getty Realty by 34.4% during the 1st quarter. Kayne Anderson Rudnick now owns 3,718,000 shares of the real estate investment trust’s stock valued at $133,960,000 after buying an additional 951,649 shares during the period.
State Street Corp raised its holdings in shares of Getty Realty by 23.0% during the 1st quarter. State Street Corp now owns 3,424,150 shares of the real estate investment trust’s stock valued at $124,802,000 after purchasing an additional 639,883 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Getty Realty by 320.9% in the 1st quarter. Envestnet Asset Management now owns 544,680 shares of the company’s stock, valued at $5,534,000, after purchasing an additional 415,272 shares in the last quarter. Finally, Norges Bank acquired a new position in Getty Realty during the 4th quarter valued at $12,017,000. Institutional investors and hedge funds now own 83.55% of the company’s stock.
Shares of Getty Realty Corp. opened at $27.73 on Friday. The company has a market capitalization of $1.40 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 10.90 and a beta of 0.87. Getty Realty has a 1-year low of $26.06 and a 1-year high of $36.49. The company’s fifty day moving average price is $30.46 and its 200-day moving average price is $32.83.
Getty Realty last reported its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.26 EPS for the quarter, missing the consensus estimate of $0.56. The company had revenue of $43.66 million during the quarter, compared to the consensus estimate of $43.09 million. Getty Realty had a return on equity of 8.51% and a net margin of 39.48%. Analysts expect that Getty Realty Corp. will post 2.26 earnings per share for the current year.
The company has also announced a quarterly dividend, to be paid on October 12th. Investors of record on September 28th will receive a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.20%. Getty Realty’s dividend payout ratio is currently 124.64%.
In other news, StockNews.com initiated coverage on Getty Realty in a report on Thursday, August 17th, giving it a “hold” rating. Four analysts have rated the stock as “hold” and one has given it a “buy” rating. The average rating for Getty Realty is “Hold” with a consensus price target of $33.40.
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Definitions:
– Securities & Exchange Commission (SEC): The U.S. government agency responsible for regulating the securities industry.
– Institutional investors: Organizations that invest large amounts of money on behalf of others, such as pension funds, insurance companies, and mutual funds.
– Real estate investment trust (REIT): A company that owns, operates, or finances income-generating real estate.
– Stake: The amount of ownership an investor holds in a company, usually represented by shares of stock.
– Holdings: The assets or securities owned by an individual or organization.
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