Getty Realty Corp. (NYSE:GTY) Short Interest Down 39.2% in September

Getty Realty Corp. (NYSE:GTY) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 2,360,000 shares, a drop of 39.2% from the September 15th total of 3,880,000 shares. Based on an average daily volume of 351,200 shares, the days-to-cover ratio is currently 6.7 days.

Getty Realty Stock Performance

Shares of GTY stock opened at $30.97 on Friday. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 25.60 and a beta of 0.92. Getty Realty has a 1-year low of $25.70 and a 1-year high of $32.87. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.88. The stock’s fifty day simple moving average is $31.35 and its 200-day simple moving average is $28.94.

Getty Realty (NYSE:GTY) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.27). The business had revenue of $49.94 million for the quarter, compared to analysts’ expectations of $48.51 million. Getty Realty had a net margin of 33.49% and a return on equity of 6.98%. During the same period last year, the firm earned $0.56 EPS. On average, sell-side analysts predict that Getty Realty will post 2.22 earnings per share for the current fiscal year.

Getty Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend was Thursday, September 26th. Getty Realty’s dividend payout ratio is currently 148.76%.

Hedge Funds Weigh In On Getty Realty

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Getty Realty by 3.4% during the first quarter. Vanguard Group Inc. now owns 7,768,393 shares of the real estate investment trust’s stock valued at $212,466,000 after acquiring an additional 252,254 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Getty Realty by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 740,116 shares of the real estate investment trust’s stock valued at $19,731,000 after purchasing an additional 28,575 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Getty Realty by 9.8% during the 2nd 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 purchasing an additional 53,906 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Getty Realty by 11.7% in the 1st quarter. ProShare Advisors LLC now owns 289,385 shares of the real estate investment trust’s stock valued at $7,915,000 after purchasing an additional 30,393 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Getty Realty by 12.1% in the second quarter. Envestnet Asset Management Inc. now owns 258,154 shares of the real estate investment trust’s stock worth $6,882,000 after purchasing an additional 27,902 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 brokerages recently weighed in on GTY. JPMorgan Chase & Co. lifted their price target on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. JMP Securities boosted their price target on shares of Getty Realty from $31.50 to $33.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th.

Getty Realty Company Profile