KBC Group NV Raises Stock Holdings in Getty Realty Corp. (NYSE:GTY)

KBC Group NV grew its position in shares of Getty Realty Corp. (NYSE:GTY) by 45.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,175 shares of the real estate investment trust’s stock after acquiring an additional 683 shares during the quarter. KBC Group NV’s holdings in Getty Realty were worth $69,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake 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 worth $212,466,000 after acquiring an additional 252,254 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 during the last quarter. Bank of New York Mellon Corp raised its holdings in 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 buying an additional 53,906 shares during the period. Envestnet Asset Management Inc. raised its holdings in Getty Realty by 12.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 258,154 shares of the real estate investment trust’s stock valued at $6,882,000 after buying an additional 27,902 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in 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 worth $4,402,000 after buying an additional 987 shares during the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GTY shares. Bank of America raised shares of Getty Realty from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $31.00 to $34.00 in a research report on Monday, October 21st. JPMorgan Chase & Co. increased their price target on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th.

Getty Realty Stock Down 0.5 %

Shares of NYSE GTY opened at $32.55 on Friday. The stock has a market capitalization of $1.79 billion, a PE ratio of 27.82 and a beta of 0.91. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.87. Getty Realty Corp. has a 12-month low of $25.70 and a 12-month high of $33.23. The stock’s fifty day simple moving average is $31.82 and its two-hundred day simple moving average is $30.00.

Getty Realty (NYSE:GTY) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.28). The firm had revenue of $51.47 million during the quarter, compared to the consensus estimate of $49.79 million. Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. During the same quarter in the prior year, the business posted $0.57 earnings per share. As a group, analysts expect that Getty Realty Corp. will post 2.22 EPS for the current fiscal year.

Getty Realty Increases Dividend

The firm 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 dividend of $0.47 per share. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, December 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.78%. Getty Realty’s payout ratio is presently 153.85%.

Getty Realty Company Profile