The Manufacturers Life Insurance Company Lowers Position in Getty Realty Corp. (NYSE:GTY)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Getty Realty Corp. (NYSE:GTY) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,598 shares of the real estate investment trust’s stock after selling 469 shares during the period. The Manufacturers Life Insurance Company’s holdings in Getty Realty were worth $782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Clear Creek Financial Management LLC lifted its position in Getty Realty by 5.0% during the second quarter. Clear Creek Financial Management LLC now owns 7,915 shares of the real estate investment trust’s stock valued at $211,000 after buying an additional 375 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Getty Realty by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the real estate investment trust’s stock valued at $659,000 after buying an additional 400 shares in the last quarter. Huntington National Bank lifted its position in Getty Realty by 21.6% during the third quarter. Huntington National Bank now owns 2,484 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 441 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Getty Realty by 34.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,990 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 513 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in Getty Realty by 4.3% during the second quarter. Arizona State Retirement System now owns 14,352 shares of the real estate investment trust’s stock valued at $383,000 after buying an additional 593 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GTY shares. JPMorgan Chase & Co. lifted their price target on shares of Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Bank of America raised shares of Getty Realty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $31.00 to $34.00 in a research report on Monday, October 21st.

Getty Realty Trading Down 0.4 %

NYSE GTY opened at $32.06 on Friday. The company’s fifty day simple moving average is $31.99 and its 200-day simple moving average is $30.44. Getty Realty Corp. has a 52 week low of $25.70 and a 52 week high of $33.85. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.87. The stock has a market cap of $1.76 billion, a P/E ratio of 27.40 and a beta of 0.92.

Getty Realty (NYSE:GTY) last posted its earnings results 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). The firm had revenue of $51.47 million for the quarter, compared to analyst estimates of $49.79 million. Getty Realty had a return on equity of 6.84% and a net margin of 32.97%. During the same period in the previous year, the firm posted $0.57 earnings per share. Equities research analysts predict that Getty Realty Corp. will post 2.23 EPS for the current fiscal year.

Getty Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 26th will be issued a $0.47 dividend. The ex-dividend date is Thursday, December 26th. This is a boost from Getty Realty’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 5.86%. Getty Realty’s dividend payout ratio is currently 153.85%.

Getty Realty Company Profile