Moran Wealth Management LLC Boosts Holdings in Getty Realty Corp. (NYSE:GTY)

Moran Wealth Management LLC increased its stake in shares of Getty Realty Corp. (NYSE:GTY) by 3.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 129,646 shares of the real estate investment trust’s stock after buying an additional 4,687 shares during the period. Moran Wealth Management LLC owned about 0.26% of Getty Realty worth $4,385,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Arizona State Retirement System raised its position in shares of Getty Realty by 2.7% in the first quarter. Arizona State Retirement System now owns 11,510 shares of the real estate investment trust’s stock valued at $415,000 after purchasing an additional 302 shares during the period. LPL Financial LLC raised its holdings in Getty Realty by 4.1% during the 4th quarter. LPL Financial LLC now owns 8,267 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 328 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Getty Realty by 2.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 14,078 shares of the real estate investment trust’s stock worth $476,000 after acquiring an additional 400 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Getty Realty by 6.3% in the second quarter. Handelsbanken Fonder AB now owns 6,716 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 400 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Getty Realty by 9.1% during the 2nd quarter. Van ECK Associates Corp now owns 5,032 shares of the real estate investment trust’s stock valued at $170,000 after purchasing an additional 419 shares during the period. Hedge funds and other institutional investors own 83.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GTY has been the subject of a number of recent analyst reports. JMP Securities reduced their target price on Getty Realty from $39.00 to $33.00 and set a “market outperform” rating for the company in a report on Thursday, October 19th. StockNews.com initiated coverage on Getty Realty in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Royal Bank of Canada reduced their target price on Getty Realty from $33.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.33.

Getty Realty Price Performance

Getty Realty stock opened at $29.03 on Tuesday. Getty Realty Corp. has a 52 week low of $25.95 and a 52 week high of $36.49. The business has a 50-day simple moving average of $27.90 and a 200 day simple moving average of $31.06. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 8.46 and a beta of 0.88.

Getty Realty (NYSE:GTY) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.25). Getty Realty had a return on equity of 8.39% and a net margin of 39.13%. The company had revenue of $48.85 million during the quarter, compared to analysts’ expectations of $44.68 million. On average, research analysts forecast that Getty Realty Corp. will post 2.25 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Thursday, December 28th will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, December 27th. This is a positive change from Getty Realty’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 6.20%. Getty Realty’s payout ratio is 126.76%.

Getty Realty Profile