abrdn plc Acquires 928 Shares of Getty Realty Corp. (NYSE:GTY)

abrdn plc raised its holdings in shares of Getty Realty Corp. (NYSE:GTY) by 10.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,717 shares of the real estate investment trust’s stock after purchasing an additional 928 shares during the period. abrdn plc’s holdings in Getty Realty were worth $309,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GTY. Allspring Global Investments Holdings LLC grew its stake in shares of Getty Realty by 23.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,121 shares of the real estate investment trust’s stock worth $195,000 after acquiring an additional 1,362 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Getty Realty by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 55,470 shares of the real estate investment trust’s stock worth $1,517,000 after purchasing an additional 455 shares during the last quarter. State of Alaska Department of Revenue grew its position in Getty Realty by 1.0% in the 1st quarter. State of Alaska Department of Revenue now owns 52,485 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 533 shares during the period. BNP Paribas Financial Markets raised its stake in Getty Realty by 33.6% during the 1st quarter. BNP Paribas Financial Markets now owns 23,614 shares of the real estate investment trust’s stock valued at $646,000 after buying an additional 5,944 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Getty Realty by 11.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 15,965 shares of the real estate investment trust’s stock valued at $437,000 after buying an additional 1,691 shares during the period. Institutional investors own 85.11% of the company’s stock.

Getty Realty Price Performance

NYSE GTY opened at $31.51 on Wednesday. The business’s fifty day moving average is $31.75 and its 200 day moving average is $29.61. Getty Realty Corp. has a fifty-two week low of $25.70 and a fifty-two 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. The company has a market capitalization of $1.73 billion, a PE ratio of 26.93 and a beta of 0.91.

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 for the quarter, compared to analysts’ expectations of $49.79 million. Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. During the same period in the previous year, the firm earned $0.57 earnings per share. Sell-side analysts predict that Getty Realty Corp. will post 2.21 earnings per share for the current year.

Getty Realty Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, December 26th. This is a boost 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 5.97%. Getty Realty’s dividend payout ratio is 160.68%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JMP Securities lifted their price objective on Getty Realty from $31.50 to $33.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Bank of America upgraded 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 note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.50.

Getty Realty Company Profile