JPMorgan Chase & Co. Has $6.59 Million Stock Holdings in Getty Realty Corp. (NYSE:GTY)

JPMorgan Chase & Co. grew its holdings in Getty Realty Corp. (NYSE:GTY) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 207,173 shares of the real estate investment trust’s stock after purchasing an additional 4,243 shares during the period. JPMorgan Chase & Co. owned approximately 0.38% of Getty Realty worth $6,590,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Getty Realty in the second quarter valued at about $29,000. Point72 Hong Kong Ltd acquired a new stake in shares of Getty Realty in the 2nd quarter valued at approximately $30,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Getty Realty by 34.7% during the 3rd 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 purchasing an additional 513 shares during the last quarter. KBC Group NV grew its holdings in shares of Getty Realty by 45.8% during the 3rd quarter. KBC Group NV now owns 2,175 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 683 shares during the last quarter. Finally, Huntington National Bank increased its position in Getty Realty by 21.6% during the 3rd quarter. Huntington National Bank now owns 2,484 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 441 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GTY. KeyCorp raised shares of Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 target price on the stock in a research note on Tuesday, December 17th. JPMorgan Chase & Co. boosted their price objective on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. JMP Securities reiterated a “market outperform” rating and issued a $34.00 target price on shares of Getty Realty in a research report on Friday, January 10th. Finally, Bank of America upgraded Getty Realty from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $31.00 to $34.00 in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Getty Realty Stock Performance

Shares of Getty Realty stock opened at $30.50 on Thursday. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 26.07 and a beta of 0.93. Getty Realty Corp. has a twelve month low of $25.70 and a twelve month high of $33.85. The company’s fifty day moving average is $31.37 and its 200 day moving average is $31.05. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.87.

Getty Realty (NYSE:GTY) last released its quarterly 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). Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. The company had revenue of $51.47 million during the quarter, compared to the consensus estimate of $49.79 million. During the same quarter last year, the firm posted $0.57 EPS. Sell-side analysts forecast that Getty Realty Corp. will post 2.23 EPS for the current year.

Getty Realty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 26th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date was Thursday, December 26th. This is an increase from Getty Realty’s previous quarterly dividend of $0.45. Getty Realty’s dividend payout ratio is currently 160.68%.

About Getty Realty