Principal Financial Group Inc. Has $7.40 Million Holdings in Getty Realty Corp. (NYSE:GTY)

Principal Financial Group Inc. raised its holdings in shares of Getty Realty Corp. (NYSE:GTY) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 245,436 shares of the real estate investment trust’s stock after buying an additional 10,455 shares during the quarter. Principal Financial Group Inc. owned about 0.45% of Getty Realty worth $7,395,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GTY. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Getty Realty by 34.7% in 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 purchasing an additional 513 shares in the last quarter. abrdn plc raised its stake in shares of Getty Realty by 10.6% in the third quarter. abrdn plc now owns 9,717 shares of the real estate investment trust’s stock valued at $309,000 after purchasing an additional 928 shares in the last quarter. Clear Creek Financial Management LLC raised its stake in shares of Getty Realty by 14.4% in the third quarter. Clear Creek Financial Management LLC now owns 9,058 shares of the real estate investment trust’s stock valued at $288,000 after purchasing an additional 1,143 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Getty Realty by 12.3% in the third quarter. Van ECK Associates Corp now owns 8,502 shares of the real estate investment trust’s stock valued at $274,000 after purchasing an additional 933 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of Getty Realty by 0.7% in the third quarter. Asset Management One Co. Ltd. now owns 138,369 shares of the real estate investment trust’s stock valued at $4,402,000 after purchasing an additional 987 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Getty Realty Stock Performance

Shares of NYSE:GTY opened at $31.45 on Friday. The business’s fifty day moving average price is $30.52 and its two-hundred day moving average price is $31.35. Getty Realty Corp. has a fifty-two week low of $25.70 and a fifty-two week high of $33.85. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 24.96 and a beta of 0.93. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.28 and a quick ratio of 2.28.

Getty Realty (NYSE:GTY) last announced its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.29. Getty Realty had a return on equity of 7.43% and a net margin of 34.94%. As a group, analysts predict that Getty Realty Corp. will post 2.29 EPS for the current fiscal year.

Getty Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 27th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.98%. The ex-dividend date of this dividend is Thursday, March 27th. Getty Realty’s payout ratio is presently 149.21%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GTY shares. JMP Securities restated a “market outperform” rating and issued a $34.00 target price on shares of Getty Realty in a research note on Friday, January 10th. KeyCorp upgraded Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 target price for the company in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

About Getty Realty