Quest Partners LLC Boosts Holdings in Getty Realty Corp. (NYSE:GTY)

Quest Partners LLC raised its holdings in Getty Realty Corp. (NYSE:GTY) by 36.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 39,259 shares of the real estate investment trust’s stock after acquiring an additional 10,404 shares during the period. Quest Partners LLC’s holdings in Getty Realty were worth $1,249,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Getty Realty in the 2nd quarter valued at about $29,000. Point72 Hong Kong Ltd acquired a new position in shares of Getty Realty in the 2nd quarter valued at about $30,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Getty Realty by 34.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,990 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 513 shares in the last quarter. KBC Group NV lifted its stake in shares of Getty Realty by 45.8% in the 3rd quarter. KBC Group NV now owns 2,175 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 683 shares in the last quarter. Finally, Huntington National Bank lifted its stake in shares of Getty Realty by 21.6% in the 3rd quarter. Huntington National Bank now owns 2,484 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 441 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Getty Realty Stock Performance

Shares of GTY opened at $32.95 on Wednesday. The business’s 50 day moving average is $31.75 and its two-hundred day moving average is $29.89. Getty Realty Corp. has a 52-week low of $25.70 and a 52-week high of $33.23. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 28.16 and a beta of 0.91. 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 analysts’ consensus estimates of $0.55 by ($0.28). Getty Realty had a net margin of 32.97% and a return on equity of 6.84%. The business had revenue of $51.47 million during the quarter, compared to analyst estimates of $49.79 million. During the same period in the previous year, the company earned $0.57 earnings per share. Analysts forecast that Getty Realty Corp. will post 2.22 EPS for the current fiscal year.

Getty Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.71%. This is an increase from Getty Realty’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, December 26th. Getty Realty’s payout ratio is 153.85%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GTY. Bank of America raised 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 research note on Monday, October 21st. JMP Securities lifted their price objective on Getty Realty from $31.50 to $33.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Getty Realty from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th.

Getty Realty Profile