Getty Realty Corp. (NYSE:GTY) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. cut its position in Getty Realty Corp. (NYSE:GTY) by 23.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,896 shares of the real estate investment trust’s stock after selling 3,097 shares during the period. Navellier & Associates Inc.’s holdings in Getty Realty were worth $315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in Getty Realty during the 3rd quarter valued at about $616,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Getty Realty in the third quarter valued at approximately $1,637,000. Avior Wealth Management LLC grew its position in shares of Getty Realty by 23.3% in the third quarter. Avior Wealth Management LLC now owns 28,215 shares of the real estate investment trust’s stock valued at $898,000 after purchasing an additional 5,328 shares in the last quarter. Quest Partners LLC increased its holdings in shares of Getty Realty by 36.1% in the third quarter. Quest Partners LLC now owns 39,259 shares of the real estate investment trust’s stock valued at $1,249,000 after purchasing an additional 10,404 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in Getty Realty by 38.1% during the third quarter. Natixis Advisors LLC now owns 603,023 shares of the real estate investment trust’s stock worth $19,182,000 after buying an additional 166,345 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Getty Realty Trading Down 0.5 %

Shares of Getty Realty stock opened at $32.55 on Friday. The stock has a 50 day moving average of $31.82 and a 200 day moving average of $29.97. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 27.82 and a beta of 0.91. Getty Realty Corp. has a fifty-two week low of $25.70 and a fifty-two week high of $33.23.

Getty Realty (NYSE:GTY) last issued its quarterly earnings data 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). The business had revenue of $51.47 million for the quarter, compared to analyst estimates 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 in the previous year, the business posted $0.57 earnings per share. As a group, research analysts predict that Getty Realty Corp. will post 2.22 earnings per share for the current year.

Getty Realty Increases Dividend

The business also recently disclosed 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 is a positive change from Getty Realty’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 5.78%. The ex-dividend date is Thursday, December 26th. Getty Realty’s dividend payout ratio is currently 160.68%.

Analyst Upgrades and Downgrades

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

About Getty Realty