Wells Fargo & Company MN Boosts Position in Getty Realty Corp. (GTY)
Wells Fargo & Company MN increased its stake in Getty Realty Corp. (NYSE:GTY) by 182.1% during the third quarter, HoldingsChannel.com reports. The firm owned 123,151 shares of the real estate investment trust’s stock after acquiring an additional 79,491 shares during the period. Wells Fargo & Company MN’s holdings in Getty Realty were worth $3,524,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in GTY. JPMorgan Chase & Co. grew its stake in Getty Realty by 89.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 608,510 shares of the real estate investment trust’s stock valued at $17,525,000 after buying an additional 287,813 shares in the last quarter. Boston Partners purchased a new position in Getty Realty in the 3rd quarter valued at approximately $7,282,000. Renaissance Technologies LLC grew its position in shares of Getty Realty by 14.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,136,312 shares of the real estate investment trust’s stock valued at $28,521,000 after purchasing an additional 147,600 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Getty Realty during the 3rd quarter valued at $3,199,000. Finally, Russell Investments Group Ltd. grew its position in shares of Getty Realty by 124.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 135,081 shares of the real estate investment trust’s stock valued at $3,864,000 after purchasing an additional 74,896 shares in the last quarter. Institutional investors and hedge funds own 61.16% of the company’s stock.
A number of research firms have recently commented on GTY. Zacks Investment Research upgraded shares of Getty Realty from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Tuesday, October 17th. KeyCorp began coverage on shares of Getty Realty in a research report on Tuesday, December 12th. They set a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $28.75.
Getty Realty (NYSE:GTY) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.21). Getty Realty had a return on equity of 9.62% and a net margin of 36.66%. The company had revenue of $29.50 million during the quarter, compared to analysts’ expectations of $27.35 million. During the same quarter last year, the firm posted $0.47 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. analysts predict that Getty Realty Corp. will post 1.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Thursday, December 21st were given a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, December 20th. This is a positive change from Getty Realty’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 4.91%. Getty Realty’s payout ratio is 110.34%.
Getty Realty Profile
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.
Want to see what other hedge funds are holding GTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Getty Realty Corp. (NYSE:GTY).
Receive News & Ratings for Getty Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Getty Realty and related companies with MarketBeat.com's FREE daily email newsletter.