Nisa Investment Advisors LLC Decreases Stake in Getty Realty Corp. (NYSE:GTY)

Nisa Investment Advisors LLC decreased its position in Getty Realty Corp. (NYSE:GTY) by 18.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,760 shares of the real estate investment trust’s stock after selling 6,196 shares during the period. Nisa Investment Advisors LLC’s holdings in Getty Realty were worth $896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in Getty Realty by 17.9% during the first quarter. Russell Investments Group Ltd. now owns 151,406 shares of the real estate investment trust’s stock worth $4,141,000 after buying an additional 23,004 shares during the period. ProShare Advisors LLC lifted its holdings in Getty Realty by 11.7% in the 1st quarter. ProShare Advisors LLC now owns 289,385 shares of the real estate investment trust’s stock valued at $7,915,000 after acquiring an additional 30,393 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Getty Realty by 3.4% in the first quarter. Vanguard Group Inc. now owns 7,768,393 shares of the real estate investment trust’s stock worth $212,466,000 after purchasing an additional 252,254 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Getty Realty by 3.7% in the first quarter. Texas Permanent School Fund Corp now owns 42,969 shares of the real estate investment trust’s stock worth $1,175,000 after buying an additional 1,540 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Getty Realty during the second quarter valued at approximately $958,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Getty Realty Trading Up 0.2 %

NYSE GTY opened at $31.45 on Tuesday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 26.88 and a beta of 0.91. Getty Realty Corp. has a 52 week low of $25.70 and a 52 week high of $33.23. The business has a 50 day moving average price of $31.76 and a 200-day moving average price of $29.58. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.87.

Getty Realty (NYSE:GTY) last announced its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.28). The company had revenue of $51.47 million for the quarter, compared to analysts’ expectations of $49.79 million. Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. During the same period in the previous year, the firm earned $0.57 EPS. As a group, equities analysts expect that Getty Realty Corp. will post 2.21 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 26th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.98%. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, December 26th. Getty Realty’s payout ratio is presently 153.85%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GTY. JMP Securities raised their target price on Getty Realty from $31.50 to $33.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. Bank of America upgraded Getty Realty from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $31.00 to $34.00 in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. upped their price objective on Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Getty Realty presently has an average rating of “Hold” and an average price target of $32.50.

About Getty Realty