Cullinan Associates Inc. Purchases New Shares in Getty Realty Corp. (NYSE:GTY)

Cullinan Associates Inc. acquired a new stake in Getty Realty Corp. (NYSE:GTY) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,690 shares of the real estate investment trust’s stock, valued at approximately $949,000. Cullinan Associates Inc. owned about 0.06% of Getty Realty at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in Getty Realty by 48.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 240,443 shares of the real estate investment trust’s stock worth $6,667,000 after purchasing an additional 78,903 shares during the last quarter. Invesco Ltd. raised its stake in shares of Getty Realty by 11.4% in the 3rd quarter. Invesco Ltd. now owns 460,215 shares of the real estate investment trust’s stock valued at $12,762,000 after purchasing an additional 47,192 shares in the last quarter. Essex Financial Services Inc. grew its stake in Getty Realty by 4.5% in the third quarter. Essex Financial Services Inc. now owns 22,804 shares of the real estate investment trust’s stock worth $632,000 after purchasing an additional 982 shares in the last quarter. Tudor Investment Corp Et Al increased its holdings in Getty Realty by 12.2% in the third quarter. Tudor Investment Corp Et Al now owns 94,572 shares of the real estate investment trust’s stock valued at $2,622,000 after buying an additional 10,317 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new position in Getty Realty during the 3rd quarter worth approximately $1,054,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GTY. StockNews.com upgraded Getty Realty from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. JMP Securities restated a “market outperform” rating and issued a $33.00 target price on shares of Getty Realty in a research note on Monday, March 25th.

Getty Realty Price Performance

Shares of NYSE:GTY opened at $26.56 on Wednesday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $1.43 billion, a P/E ratio of 22.70 and a beta of 0.90. Getty Realty Corp. has a 52 week low of $25.70 and a 52 week high of $34.38. The firm’s 50 day moving average is $27.27 and its two-hundred day moving average is $27.48.

Getty Realty (NYSE:GTY) last posted its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.27). Getty Realty had a return on equity of 6.80% and a net margin of 32.74%. The firm had revenue of $48.97 million for the quarter, compared to analysts’ expectations of $46.63 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Analysts anticipate that Getty Realty Corp. will post 2.31 earnings per share for the current year.

Getty Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Thursday, June 27th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.80 annualized dividend and a yield of 6.78%. Getty Realty’s dividend payout ratio (DPR) is currently 153.85%.

Getty Realty Profile