Public Sector Pension Investment Board Buys 29,295 Shares of Getty Realty Corporation $GTY

Public Sector Pension Investment Board raised its stake in Getty Realty Corporation (NYSE:GTY) by 16.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,223 shares of the real estate investment trust’s stock after purchasing an additional 29,295 shares during the quarter. Public Sector Pension Investment Board owned 0.35% of Getty Realty worth $5,452,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new stake in Getty Realty in the 1st quarter valued at $31,000. EverSource Wealth Advisors LLC grew its stake in shares of Getty Realty by 3,996.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,188 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,159 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Getty Realty by 288.6% in the third quarter. Farther Finance Advisors LLC now owns 1,364 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 1,013 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Getty Realty during the second quarter valued at about $38,000. Finally, GAMMA Investing LLC boosted its holdings in Getty Realty by 56.6% during the third quarter. GAMMA Investing LLC now owns 2,317 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 837 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GTY. Weiss Ratings reiterated a “hold (c)” rating on shares of Getty Realty in a research note on Thursday, January 22nd. Royal Bank Of Canada increased their price target on Getty Realty from $30.00 to $33.00 and gave the company a “sector perform” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.60.

Getty Realty Stock Performance

Shares of GTY stock opened at $31.79 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.20 and a current ratio of 2.20. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 2.35 and a beta of 0.84. Getty Realty Corporation has a 52 week low of $25.39 and a 52 week high of $34.02. The firm’s 50-day simple moving average is $29.45 and its two-hundred day simple moving average is $28.37.

Getty Realty (NYSE:GTY) last issued its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The company had revenue of $60.55 million during the quarter, compared to analyst estimates of $55.94 million. Getty Realty had a net margin of 35.72% and a return on equity of 7.86%. The company’s revenue was up 14.2% on a year-over-year basis. As a group, equities analysts forecast that Getty Realty Corporation will post 2.29 earnings per share for the current year.

Getty Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 26th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Thursday, March 26th. Getty Realty’s dividend payout ratio is currently 144.78%.

Getty Realty Company Profile

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company’s portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.