Envestnet Asset Management Inc. Has $8.29 Million Stake in Getty Realty Corp. (NYSE:GTY)

Envestnet Asset Management Inc. trimmed its position in Getty Realty Corp. (NYSE:GTY - Free Report) by 9.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 275,057 shares of the real estate investment trust's stock after selling 28,582 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.50% of Getty Realty worth $8,287,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Getty Realty by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 7,863,821 shares of the real estate investment trust's stock valued at $236,937,000 after purchasing an additional 48,491 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Getty Realty by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,297,268 shares of the real estate investment trust's stock worth $39,095,000 after purchasing an additional 17,618 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Getty Realty by 17.1% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 681,231 shares of the real estate investment trust's stock valued at $20,525,000 after purchasing an additional 99,530 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Getty Realty by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 586,780 shares of the real estate investment trust's stock valued at $17,680,000 after purchasing an additional 41,826 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Getty Realty by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 369,419 shares of the real estate investment trust's stock valued at $11,131,000 after purchasing an additional 1,231 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GTY. Robert W. Baird decreased their target price on Getty Realty from $33.00 to $32.00 and set a "neutral" rating for the company in a research report on Thursday. JMP Securities restated a "market outperform" rating and issued a $34.00 price target on shares of Getty Realty in a research note on Friday, January 10th. Finally, UBS Group assumed coverage on Getty Realty in a report on Friday, March 28th. They issued a "neutral" rating and a $32.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.33.

Getty Realty Stock Down 3.8 %

Getty Realty stock traded down $1.07 during trading hours on Thursday, hitting $27.44. The company had a trading volume of 105,992 shares, compared to its average volume of 313,791. The firm's fifty day moving average is $30.03 and its 200-day moving average is $30.87. Getty Realty Corp. has a fifty-two week low of $25.70 and a fifty-two week high of $33.85. The firm has a market capitalization of $1.51 billion, a P/E ratio of 21.83 and a beta of 0.85. 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 - Get Free Report) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.29. Getty Realty had a net margin of 34.94% and a return on equity of 7.43%. On average, research analysts forecast that Getty Realty Corp. will post 2.29 earnings per share for the current year.

Getty Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 26th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $1.88 dividend on an annualized basis and a yield of 6.85%. Getty Realty's dividend payout ratio (DPR) is presently 149.21%.

About Getty Realty