Legal & General Group Plc Buys Shares of 343,733 Getty Realty Corporation $GTY

Legal & General Group Plc bought a new stake in Getty Realty Corporation (NYSE:GTY) in the second quarter, Holdings Channel.com reports. The institutional investor bought 343,733 shares of the real estate investment trust’s stock, valued at approximately $11,467,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. The Manufacturers Life Insurance Company acquired a new position in Getty Realty during the second quarter valued at $942,000. Quantbot Technologies LP acquired a new stake in Getty Realty during the 2nd quarter worth about $1,985,000. Ieq Capital LLC acquired a new stake in Getty Realty during the 2nd quarter worth about $1,208,000. Callan Family Office LLC acquired a new stake in Getty Realty during the 2nd quarter worth about $346,000. Finally, Heartland Advisors Inc. purchased a new position in Getty Realty during the 2nd quarter valued at about $11,676,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Getty Realty Stock Performance

GTY opened at $32.39 on Tuesday. The company has a market cap of $2.01 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The stock has a 50-day moving average of $33.97 and a 200-day moving average of $33.32. Getty Realty Corporation has a 52-week low of $25.39 and a 52-week high of $36.83. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.26 and a current ratio of 2.26.

Getty Realty (NYSE:GTY) last issued its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.36 earnings per share 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 company had revenue of $59.05 million during the quarter, compared to the consensus estimate of $58.45 million. Getty Realty’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 research analysts forecast that Getty Realty Corporation will post 2.45 earnings per share for the current fiscal year.

Getty Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 24th will be given a $0.485 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 6.0%. Getty Realty’s dividend payout ratio (DPR) is currently 118.29%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GTY shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Getty Realty in a report on Friday, August 7th. Citizens Jmp boosted their price objective on shares of Getty Realty from $35.00 to $39.00 and gave the company a “market outperform” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada upped their price objective on shares of Getty Realty from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Citigroup reiterated an “outperform” rating on shares of Getty Realty in a research report on Thursday, July 23rd. Finally, KeyCorp lifted their target price on shares of Getty Realty from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.29.

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.