Victory Capital Management Inc. Reduces Stock Position in Getty Realty Corp. (NYSE:GTY)

Victory Capital Management Inc. lessened its holdings in Getty Realty Corp. (NYSE:GTY) by 6.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,320 shares of the real estate investment trust’s stock after selling 758 shares during the quarter. Victory Capital Management Inc.’s holdings in Getty Realty were worth $328,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GTY. Bank of New York Mellon Corp increased its holdings in Getty Realty by 9.8% in the second quarter. Bank of New York Mellon Corp now owns 601,341 shares of the real estate investment trust’s stock valued at $16,032,000 after buying an additional 53,906 shares during the last quarter. AQR Capital Management LLC boosted its stake in Getty Realty by 101.3% in the second quarter. AQR Capital Management LLC now owns 93,900 shares of the real estate investment trust’s stock valued at $2,503,000 after acquiring an additional 47,248 shares in the last quarter. Marshall Wace LLP acquired a new position in Getty Realty in the second quarter valued at $1,251,000. Cubist Systematic Strategies LLC acquired a new position in Getty Realty in the second quarter valued at $958,000. Finally, Meritage Portfolio Management boosted its stake in Getty Realty by 41.2% in the third quarter. Meritage Portfolio Management now owns 122,402 shares of the real estate investment trust’s stock valued at $3,894,000 after acquiring an additional 35,707 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Getty Realty Price Performance

Shares of GTY opened at $32.91 on Friday. Getty Realty Corp. has a fifty-two week low of $25.70 and a fifty-two week high of $33.85. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 28.13 and a beta of 0.91. The firm has a 50-day simple moving average of $31.89 and a 200-day simple moving average of $30.18. 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 (NYSE:GTY) last announced its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $49.79 million. During the same quarter last year, the company posted $0.57 EPS. On average, equities research analysts anticipate that Getty Realty Corp. will post 2.23 earnings per share for the current year.

Getty Realty Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Bank of America upgraded shares of Getty Realty from a “neutral” rating to a “buy” rating and upped their price objective for the company from $31.00 to $34.00 in a research note on Monday, October 21st.

Getty Realty Company Profile