Getty Realty Corp. (NYSE:GTY) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 363,342 shares, a decline of 42.4% from the August 15th total of 630,911 shares. Based on an average daily volume of 246,837 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.1% of the shares of the stock are sold short.

Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue raised its holdings in Getty Realty Corp. by 78.9% during the second quarter. State of Alaska Department of Revenue now owns 5,330 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 2,350 shares during the last quarter. Mason Street Advisors LLC raised its holdings in Getty Realty Corp. by 9.0% during the first quarter. Mason Street Advisors LLC now owns 6,306 shares of the real estate investment trust’s stock worth $159,000 after purchasing an additional 521 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in Getty Realty Corp. by 6.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,368 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 370 shares during the last quarter. Credit Agricole S A raised its holdings in Getty Realty Corp. by 59.0% during the first quarter. Credit Agricole S A now owns 7,428 shares of the real estate investment trust’s stock worth $188,000 after purchasing an additional 2,756 shares during the last quarter. Finally, D.A. Davidson & CO. raised its holdings in Getty Realty Corp. by 2.4% during the second quarter. D.A. Davidson & CO. now owns 7,755 shares of the real estate investment trust’s stock worth $194,000 after purchasing an additional 180 shares during the last quarter. 52.09% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently commented on the company. Bank of America Corp assumed coverage on Getty Realty Corp. in a research report on Wednesday, September 6th. They set a “buy” rating and a $30.00 price target for the company. ValuEngine upgraded Getty Realty Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub upgraded Getty Realty Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Getty Realty Corp. from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Thursday, June 1st. Finally, Canaccord Genuity assumed coverage on Getty Realty Corp. in a research report on Tuesday, July 18th. They set a “buy” rating and a $32.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $27.75.

Shares of Getty Realty Corp. (NYSE:GTY) opened at 28.51 on Wednesday. Getty Realty Corp. has a 12 month low of $21.71 and a 12 month high of $29.00. The company’s 50 day moving average price is $27.20 and its 200 day moving average price is $25.77. The stock has a market capitalization of $1.12 billion, a PE ratio of 23.58 and a beta of 0.54.

Getty Realty Corp. (NYSE:GTY) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. The firm had revenue of $24.83 million during the quarter, compared to analysts’ expectations of $25.20 million. Getty Realty Corp. had a return on equity of 13.15% and a net margin of 50.12%. Getty Realty Corp.’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. Equities analysts anticipate that Getty Realty Corp. will post $1.30 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Thursday, September 21st will be issued a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 20th. This represents a $1.12 annualized dividend and a yield of 3.93%. Getty Realty Corp.’s dividend payout ratio is presently 92.56%.

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About Getty Realty Corp.

Getty Realty Corp. is a real estate investment trust (REIT). The Company specializes in the ownership, leasing and financing of convenience store and gasoline station properties. As of June 30, 2017, the Company’s 825 properties were located in 26 states across the United States and Washington, District of Columbia.

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