Ingalls & Snyder LLC Sells 14,853 Shares of Getty Realty Corporation $GTY

Ingalls & Snyder LLC lessened its stake in Getty Realty Corporation (NYSE:GTY) by 8.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,621 shares of the real estate investment trust’s stock after selling 14,853 shares during the quarter. Ingalls & Snyder LLC owned 0.28% of Getty Realty worth $4,309,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GTY. Versor Investments LP bought a new stake in shares of Getty Realty in the third quarter worth $1,312,000. Allworth Financial LP grew its position in Getty Realty by 6,425.8% in the second quarter. Allworth Financial LP now owns 21,274 shares of the real estate investment trust’s stock valued at $588,000 after purchasing an additional 20,948 shares in the last quarter. Delta Investment Management LLC increased its stake in Getty Realty by 73.1% in the 3rd quarter. Delta Investment Management LLC now owns 55,330 shares of the real estate investment trust’s stock valued at $1,484,000 after buying an additional 23,369 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Getty Realty by 54.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 479,414 shares of the real estate investment trust’s stock valued at $13,251,000 after buying an additional 168,345 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Getty Realty by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,418,927 shares of the real estate investment trust’s stock worth $39,224,000 after buying an additional 44,766 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Getty Realty Stock Performance

Shares of GTY opened at $33.86 on Wednesday. The company has a market cap of $2.03 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 3.08 and a beta of 0.84. The firm has a 50-day moving average of $29.33 and a 200-day moving average of $28.32. Getty Realty Corporation has a one year low of $25.39 and a one year high of $34.02. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.20 and a quick ratio of 2.20.

Getty Realty (NYSE:GTY) last issued its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Getty Realty had a net margin of 35.72% and a return on equity of 7.86%. The company had revenue of $60.55 million for the quarter, compared to analysts’ expectations of $55.94 million. The firm’s revenue was up 14.2% on a year-over-year basis. As a group, equities analysts forecast that Getty Realty Corporation will post 2.29 earnings per share for the current year.

Getty Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 26th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Thursday, March 26th. Getty Realty’s payout ratio is currently 144.78%.

Analyst Ratings Changes

Several brokerages have recently weighed in on GTY. Royal Bank Of Canada raised their price objective on Getty Realty from $30.00 to $33.00 and gave the company a “sector perform” rating in a report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Getty Realty in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.60.

Getty Realty Profile

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company’s portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.