JPMorgan Chase & Co. lifted its position in shares of Getty Realty Corp. (NYSE:GTY) by 89.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 608,510 shares of the real estate investment trust’s stock after purchasing an additional 287,813 shares during the period. JPMorgan Chase & Co. owned about 1.54% of Getty Realty worth $17,525,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GTY. SG Americas Securities LLC acquired a new position in shares of Getty Realty during the third quarter worth $158,000. Municipal Employees Retirement System of Michigan lifted its position in shares of Getty Realty 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 in the last quarter. D.A. Davidson & CO. lifted its position in shares of Getty Realty 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 in the last quarter. Nine Chapters Capital Management LLC acquired a new position in shares of Getty Realty during the third quarter worth $235,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Getty Realty during the third quarter worth $273,000. 61.50% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the stock. KeyCorp assumed coverage on shares of Getty Realty in a research report on Tuesday, December 12th. They set a “sector weight” rating on the stock. Zacks Investment Research raised shares of Getty Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, November 28th. Bank of America assumed coverage on shares of Getty Realty in a research report on Wednesday, September 6th. They set a “buy” rating and a $30.00 target price on the stock. Finally, ValuEngine raised shares of Getty Realty from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. 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 stock. The company has an average rating of “Buy” and an average price target of $28.75.
Getty Realty (NYSE:GTY) last posted its quarterly 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). The company had revenue of $29.50 million during the quarter, compared to analyst estimates of $27.35 million. Getty Realty had a net margin of 36.66% and a return on equity of 9.62%. The company’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 earnings per share. equities analysts predict that Getty Realty Corp. will post 1.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 21st will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, December 20th. This is a boost from Getty Realty’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 4.57%. Getty Realty’s dividend payout ratio is currently 94.12%.
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Getty Realty Company 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.
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