Bank of New York Mellon Corp Boosts Stock Holdings in Getty Realty Corp. (NYSE:GTY)

Bank of New York Mellon Corp lifted its holdings in Getty Realty Corp. (NYSE:GTY) by 9.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 601,341 shares of the real estate investment trust’s stock after purchasing an additional 53,906 shares during the period. Bank of New York Mellon Corp owned about 1.11% of Getty Realty worth $16,032,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GTY. Clear Creek Financial Management LLC raised its holdings in Getty Realty by 5.0% in the second quarter. Clear Creek Financial Management LLC now owns 7,915 shares of the real estate investment trust’s stock worth $211,000 after purchasing an additional 375 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its position in shares of Getty Realty by 0.9% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 42,769 shares of the real estate investment trust’s stock worth $1,250,000 after buying an additional 394 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Getty Realty by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the real estate investment trust’s stock worth $659,000 after acquiring an additional 400 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Getty Realty by 0.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 55,470 shares of the real estate investment trust’s stock valued at $1,517,000 after acquiring an additional 455 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its stake in Getty Realty by 3.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 17,430 shares of the real estate investment trust’s stock valued at $509,000 after acquiring an additional 503 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JMP Securities upped their price target on Getty Realty from $31.50 to $33.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th.

Getty Realty Price Performance

Shares of GTY stock opened at $31.66 on Friday. Getty Realty Corp. has a fifty-two week low of $25.70 and a fifty-two week high of $32.33. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.22 and a current ratio of 3.22. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 27.06 and a beta of 0.92. The stock’s 50-day simple moving average is $30.12 and its 200-day simple moving average is $28.14.

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 company had revenue of $49.94 million for the quarter, compared to analysts’ expectations of $48.51 million. Getty Realty had a return on equity of 6.98% and a net margin of 33.49%. During the same period in the prior year, the firm posted $0.56 EPS. As a group, equities analysts forecast that Getty Realty Corp. will post 2.31 earnings per share for the current fiscal year.

Getty Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.80 annualized dividend and a yield of 5.69%. Getty Realty’s payout ratio is presently 153.85%.

About Getty Realty