Getty Realty Corp. (NYSE:GTY) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Getty Realty Corp. (NYSE:GTY) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 234,981 shares of the real estate investment trust’s stock after selling 7,305 shares during the period. Principal Financial Group Inc. owned approximately 0.44% of Getty Realty worth $7,475,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GTY. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Getty Realty during the 2nd quarter worth approximately $29,000. Point72 Hong Kong Ltd bought a new position in Getty Realty in the 2nd quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Getty Realty by 34.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,990 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 513 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Getty Realty during the second quarter valued at $81,000. Finally, Point72 Asset Management L.P. acquired a new position in Getty Realty during the 2nd quarter valued at about $162,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GTY has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. JMP Securities upped their target price on Getty Realty from $31.50 to $33.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. Finally, Bank of America upgraded Getty Realty from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $31.00 to $34.00 in a report on Monday, October 21st.

Getty Realty Stock Performance

GTY opened at $32.95 on Wednesday. The stock has a 50-day moving average of $31.75 and a 200-day moving average of $29.89. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.44 and a current ratio of 2.44. Getty Realty Corp. has a 52-week low of $25.70 and a 52-week high of $33.23. The company has a market cap of $1.81 billion, a PE ratio of 28.04 and a beta of 0.91.

Getty Realty (NYSE:GTY) last posted its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.28). Getty Realty had a return on equity of 6.84% and a net margin of 32.97%. The business had revenue of $51.47 million during the quarter, compared to the consensus estimate of $49.79 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. As a group, equities research analysts forecast that Getty Realty Corp. will post 2.22 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend is Thursday, December 26th. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45. Getty Realty’s dividend payout ratio (DPR) is presently 153.85%.

Getty Realty Profile