Getty Realty Corp. (NYSE:GTY) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its position in Getty Realty Corp. (NYSE:GTY) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 26,537 shares of the real estate investment trust’s stock after acquiring an additional 1,025 shares during the period. Illinois Municipal Retirement Fund’s holdings in Getty Realty were worth $800,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Getty Realty by 7.7% during the fourth quarter. Bank of New York Mellon Corp now owns 586,780 shares of the real estate investment trust’s stock worth $17,680,000 after purchasing an additional 41,826 shares in the last quarter. Navellier & Associates Inc. raised its stake in shares of Getty Realty by 39.0% during the 4th quarter. Navellier & Associates Inc. now owns 13,759 shares of the real estate investment trust’s stock worth $415,000 after buying an additional 3,863 shares in the last quarter. Truist Financial Corp purchased a new position in shares of Getty Realty during the 4th quarter worth approximately $228,000. Principal Financial Group Inc. lifted its holdings in shares of Getty Realty by 4.4% in the 4th quarter. Principal Financial Group Inc. now owns 245,436 shares of the real estate investment trust’s stock valued at $7,395,000 after buying an additional 10,455 shares during the period. Finally, Congress Asset Management Co. boosted its stake in shares of Getty Realty by 61.5% in the fourth quarter. Congress Asset Management Co. now owns 226,096 shares of the real estate investment trust’s stock valued at $6,812,000 after buying an additional 86,110 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. KeyCorp upgraded Getty Realty from a “sector weight” rating to an “overweight” rating and set a $35.00 price objective for the company in a research report on Tuesday, December 17th. JMP Securities reiterated a “market outperform” rating and issued a $34.00 price target on shares of Getty Realty in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Getty Realty has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Getty Realty Stock Performance

NYSE GTY opened at $31.24 on Tuesday. The business has a 50 day moving average price of $30.54 and a 200 day moving average price of $31.37. The company has a market capitalization of $1.72 billion, a P/E ratio of 24.79 and a beta of 0.93. Getty Realty Corp. has a 1-year low of $25.70 and a 1-year high of $33.85. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.28 and a quick ratio of 2.28.

Getty Realty (NYSE:GTY) last announced its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.29. Getty Realty had a return on equity of 7.43% and a net margin of 34.94%. Sell-side analysts expect that Getty Realty Corp. will post 2.29 EPS for the current fiscal year.

Getty Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 27th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Thursday, March 27th. Getty Realty’s dividend payout ratio (DPR) is presently 149.21%.

About Getty Realty