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Allianz Asset Management GmbH Boosts Stake in Getty Realty Corporation (NYSE:GTY)

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Key Points

  • Allianz Asset Management GmbH increased its stake in Getty Realty Corporation by 75.5%, acquiring an additional 15,847 shares, bringing its total to 36,847 shares valued at approximately $1.15 million.
  • Getty Realty recently reported quarterly earnings of $0.59 per share, missing analysts' estimates by $0.01 and revealing revenues of $51.31 million.
  • The company declared a quarterly dividend of $0.47, representing an annualized dividend yield of 6.7%, with a dividend payout ratio of over 163%.
  • Looking to export and analyze Getty Realty data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Allianz Asset Management GmbH grew its position in shares of Getty Realty Corporation (NYSE:GTY - Free Report) by 75.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,847 shares of the real estate investment trust's stock after purchasing an additional 15,847 shares during the period. Allianz Asset Management GmbH owned about 0.07% of Getty Realty worth $1,149,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in shares of Getty Realty in the 4th quarter valued at about $28,000. Sterling Capital Management LLC lifted its stake in shares of Getty Realty by 821.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,585 shares of the real estate investment trust's stock valued at $48,000 after acquiring an additional 1,413 shares during the last quarter. Quarry LP lifted its stake in shares of Getty Realty by 468.0% in the 4th quarter. Quarry LP now owns 2,806 shares of the real estate investment trust's stock valued at $85,000 after acquiring an additional 2,312 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Getty Realty in the 4th quarter valued at about $209,000. Finally, D.A. Davidson & CO. bought a new stake in shares of Getty Realty in the 1st quarter valued at about $211,000. Institutional investors own 85.11% of the company's stock.

Getty Realty Trading Up 1.4%

NYSE:GTY traded up $0.39 during mid-day trading on Monday, reaching $28.43. 56,938 shares of the company's stock traded hands, compared to its average volume of 375,400. Getty Realty Corporation has a 12-month low of $26.42 and a 12-month high of $33.85. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 2.11 and a beta of 0.83. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.98 and a quick ratio of 1.98. The company has a 50 day moving average price of $28.20 and a 200-day moving average price of $29.24.

Getty Realty (NYSE:GTY - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). Getty Realty had a return on equity of 6.87% and a net margin of 31.62%. The firm had revenue of $51.31 million for the quarter, compared to analysts' expectations of $51.59 million. On average, sell-side analysts predict that Getty Realty Corporation will post 2.29 earnings per share for the current year.

Getty Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 25th will be issued a dividend of $0.47 per share. The ex-dividend date is Thursday, September 25th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.6%. Getty Realty's dividend payout ratio is 163.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. KeyCorp lowered their target price on Getty Realty from $35.00 to $33.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. UBS Group lowered their target price on Getty Realty from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Wall Street Zen lowered Getty Realty from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Robert W. Baird reduced their price target on Getty Realty from $33.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Getty Realty currently has a consensus rating of "Hold" and a consensus price target of $32.33.

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Institutional Ownership by Quarter for Getty Realty (NYSE:GTY)

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