Getty Realty Corp. (NYSE:GTY) Shares Purchased by State Street Corp

State Street Corp grew its stake in shares of Getty Realty Corp. (NYSE:GTY) by 4.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,920,520 shares of the real estate investment trust’s stock after buying an additional 172,631 shares during the period. State Street Corp owned 7.13% of Getty Realty worth $126,411,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in Getty Realty in the third quarter valued at $495,000. Intech Investment Management LLC acquired a new position in shares of Getty Realty in the 3rd quarter valued at about $616,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Getty Realty by 493.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 317,380 shares of the real estate investment trust’s stock valued at $10,096,000 after purchasing an additional 263,938 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Getty Realty during the 2nd quarter worth approximately $958,000. Finally, Natixis Advisors LLC raised its holdings in Getty Realty by 38.1% in the third quarter. Natixis Advisors LLC now owns 603,023 shares of the real estate investment trust’s stock valued at $19,182,000 after buying an additional 166,345 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Getty Realty Trading Down 0.4 %

GTY opened at $32.06 on Friday. The firm’s 50 day moving average is $32.01 and its 200-day moving average is $30.50. Getty Realty Corp. has a 52-week low of $25.70 and a 52-week high of $33.85. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $1.76 billion, a P/E ratio of 27.40 and a beta of 0.92.

Getty Realty (NYSE:GTY) last released its quarterly 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 firm had revenue of $51.47 million for the quarter, compared to analysts’ expectations of $49.79 million. Getty Realty had a return on equity of 6.84% and a net margin of 32.97%. During the same period last year, the firm earned $0.57 EPS. Analysts expect that Getty Realty Corp. will post 2.23 EPS for the current fiscal year.

Getty Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 26th will be issued a $0.47 dividend. The ex-dividend date is Thursday, December 26th. This represents a $1.88 dividend on an annualized basis and a yield of 5.86%. This is an increase from Getty Realty’s previous quarterly dividend of $0.45. Getty Realty’s dividend payout ratio is currently 153.85%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Bank of America raised shares of Getty Realty from a “neutral” rating to a “buy” rating and upped their price target for the stock from $31.00 to $34.00 in a research report on Monday, October 21st.

About Getty Realty