State of Alaska Department of Revenue Sells 669 Shares of Getty Realty Corp. (NYSE:GTY)

State of Alaska Department of Revenue trimmed its position in shares of Getty Realty Corp. (NYSE:GTY) by 1.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,904 shares of the real estate investment trust’s stock after selling 669 shares during the period. State of Alaska Department of Revenue owned approximately 0.10% of Getty Realty worth $1,649,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares 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 acquired a new position in shares of Getty Realty during the 2nd quarter worth $30,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Getty Realty by 34.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,990 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 513 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Getty Realty in the second quarter valued at about $81,000. Finally, Point72 Asset Management L.P. bought a new position in Getty Realty in the second quarter valued at about $162,000. 85.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GTY shares. JPMorgan Chase & Co. raised their price target on shares of Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Bank of America upgraded shares of Getty Realty from a “neutral” rating to a “buy” rating and upped their price target for the stock from $31.00 to $34.00 in a report on Monday, October 21st. Finally, JMP Securities increased their price target on Getty Realty from $31.50 to $33.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.50.

Getty Realty Stock Performance

Shares of NYSE GTY opened at $31.39 on Friday. The firm has a 50 day moving average price of $31.76 and a two-hundred day moving average price of $29.52. The stock has a market cap of $1.73 billion, a P/E ratio of 26.83 and a beta of 0.91. 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 posted its quarterly earnings data 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 company had revenue of $51.47 million during the quarter, compared to analyst estimates 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 previous year, the company earned $0.57 earnings per share. As a group, equities analysts forecast that Getty Realty Corp. will post 2.21 EPS for the current year.

Getty Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.99%. This is an increase from Getty Realty’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, December 26th. Getty Realty’s dividend payout ratio (DPR) is 153.85%.

About Getty Realty