Louisiana State Employees Retirement System Sells 600 Shares of Getty Realty Corp. (NYSE:GTY)

Louisiana State Employees Retirement System decreased its stake in Getty Realty Corp. (NYSE:GTY) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,100 shares of the real estate investment trust’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Getty Realty were worth $767,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Getty Realty in the second quarter valued at approximately $29,000. Point72 Hong Kong Ltd bought a new stake in Getty Realty during the second quarter worth $30,000. Rothschild Investment LLC acquired a new stake in Getty Realty in the second quarter valued at $81,000. Point72 Asset Management L.P. bought a new position in shares of Getty Realty in the 2nd quarter valued at about $162,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Getty Realty by 23.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,121 shares of the real estate investment trust’s stock worth $195,000 after purchasing an additional 1,362 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

GTY has been the subject of a number of research analyst reports. Bank of America upgraded Getty Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $31.00 to $34.00 in a report on Monday, October 21st. JPMorgan Chase & Co. boosted their target price on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Finally, JMP Securities lifted their price objective on shares of Getty Realty from $31.50 to $33.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.50.

Getty Realty Stock Performance

GTY opened at $31.45 on Tuesday. The firm has a market cap of $1.73 billion, a P/E ratio of 26.88 and a beta of 0.91. The business’s fifty day moving average is $31.76 and its 200-day moving average is $29.58. Getty Realty Corp. has a 52-week low of $25.70 and a 52-week high of $33.23. 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 (NYSE:GTY) last announced its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share (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 firm had revenue of $51.47 million during the quarter, compared to the consensus estimate of $49.79 million. During the same period last year, the business earned $0.57 earnings per share. Sell-side analysts expect that Getty Realty Corp. will post 2.21 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. Stockholders of record on Thursday, December 26th will be paid a $0.47 dividend. This is an increase from Getty Realty’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Thursday, December 26th. Getty Realty’s dividend payout ratio (DPR) is presently 153.85%.

Getty Realty Company Profile