Royal Bank of Canada Boosts Position in Getty Realty Corporation $GTY

Royal Bank of Canada boosted its holdings in Getty Realty Corporation (NYSE:GTY) by 28.0% in the first quarter, HoldingsChannel.com reports. The firm owned 76,579 shares of the real estate investment trust’s stock after buying an additional 16,729 shares during the quarter. Royal Bank of Canada’s holdings in Getty Realty were worth $2,435,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GTY. Schonfeld Strategic Advisors LLC lifted its position in shares of Getty Realty by 2,308.6% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 457,536 shares of the real estate investment trust’s stock worth $12,276,000 after buying an additional 438,540 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Getty Realty by 164.7% in the 4th quarter. Marshall Wace LLP now owns 637,865 shares of the real estate investment trust’s stock valued at $17,458,000 after buying an additional 396,897 shares in the last quarter. Heartland Advisors Inc. purchased a new position in shares of Getty Realty in the 1st quarter valued at $11,130,000. Millennium Management LLC grew its position in shares of Getty Realty by 42.3% in the 3rd quarter. Millennium Management LLC now owns 1,142,413 shares of the real estate investment trust’s stock valued at $30,651,000 after buying an additional 339,388 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its position in shares of Getty Realty by 58.8% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 802,660 shares of the real estate investment trust’s stock valued at $21,969,000 after buying an additional 297,229 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Getty Realty Stock Performance

Shares of GTY opened at $33.25 on Monday. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.95. The firm has a market cap of $2.06 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.93 and a beta of 0.72. The company’s 50 day simple moving average is $33.96 and its 200-day simple moving average is $33.09. Getty Realty Corporation has a 12-month low of $25.39 and a 12-month high of $36.83.

Getty Realty (NYSE:GTY) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Getty Realty had a net margin of 42.74% and a return on equity of 9.27%. The business had revenue of $59.05 million during the quarter, compared to analyst estimates of $58.45 million. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Getty Realty has set its FY 2026 guidance at 2.520-2.540 EPS. As a group, equities analysts predict that Getty Realty Corporation will post 2.45 EPS for the current year.

Getty Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 24th will be paid a $0.485 dividend. The ex-dividend date is Thursday, September 24th. This represents a $1.94 dividend on an annualized basis and a yield of 5.8%. Getty Realty’s payout ratio is currently 118.29%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GTY. Robert W. Baird boosted their price target on shares of Getty Realty from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Getty Realty in a report on Friday, August 7th. Huntington started coverage on Getty Realty in a report on Wednesday, July 15th. They set an “outperform” rating and a $37.00 price objective on the stock. Citizens Jmp lifted their target price on Getty Realty from $35.00 to $39.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 23rd. Finally, Citigroup reissued an “outperform” rating on shares of Getty Realty in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.29.

Getty Realty 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.