abrdn plc Purchases 2,975 Shares of Getty Realty Corp. (NYSE:GTY)

abrdn plc increased its stake in Getty Realty Corp. (NYSE:GTY) by 30.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,692 shares of the real estate investment trust’s stock after acquiring an additional 2,975 shares during the quarter. abrdn plc’s holdings in Getty Realty were worth $380,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GTY. Fifth Third Bancorp raised its holdings in shares of Getty Realty by 923.7% during the fourth quarter. Fifth Third Bancorp now owns 1,341 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,210 shares during the period. GAMMA Investing LLC grew its position in shares of Getty Realty by 66.2% during the 4th quarter. GAMMA Investing LLC now owns 1,486 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 592 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake 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 worth $63,000 after acquiring an additional 513 shares during the period. KBC Group NV raised its position in shares of Getty Realty by 45.8% in the third 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 period. Finally, Huntington National Bank grew its position in shares of Getty Realty by 21.6% in the third quarter. Huntington National Bank now owns 2,484 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 441 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

Getty Realty Price Performance

GTY stock opened at $30.76 on Wednesday. Getty Realty Corp. has a 52-week low of $25.70 and a 52-week high of $33.85. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 26.29 and a beta of 0.93. The firm has a 50 day moving average price of $30.85 and a 200-day moving average price of $31.34. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 27th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.11%. Getty Realty’s dividend payout ratio is presently 160.68%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. KeyCorp raised Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 price objective for the company in a research note on Tuesday, December 17th. JMP Securities reiterated a “market outperform” rating and issued a $34.00 price objective 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 upped their target price for the company 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Getty Realty currently has an average rating of “Moderate Buy” and an average price target of $34.00.

About Getty Realty