Amundi Cuts Stock Holdings in Getty Realty Corporation $GTY

Key Points

• Amundi cut its Getty Realty stake by 70.3% in the first quarter, selling 98,271 shares and retaining 41,612 shares worth approximately $1.32 million.
• Despite Amundi’s reduction, several other institutional investors increased their positions, and hedge funds and other institutions collectively own 85.11% of GTY.
• Analysts maintain a generally positive outlook, with six Buy ratings and three Holds, a “Moderate Buy” consensus, and an average price target of $35.29. Getty Realty also announced a quarterly dividend of $0.485 per share, representing an annualized yield of about 5.8%.

Amundi lowered its holdings in Getty Realty Corporation (NYSE:GTY - Free Report) by 70.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,612 shares of the real estate investment trust's stock after selling 98,271 shares during the quarter. Amundi owned 0.07% of Getty Realty worth $1,323,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC boosted its stake in shares of Getty Realty by 2,308.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 457,536 shares of the real estate investment trust's stock valued at $12,276,000 after acquiring an additional 438,540 shares during the last quarter. Marshall Wace LLP grew its stake in Getty Realty by 164.7% during the fourth quarter. Marshall Wace LLP now owns 637,865 shares of the real estate investment trust's stock worth $17,458,000 after buying an additional 396,897 shares during the period. Heartland Advisors Inc. acquired a new position in shares of Getty Realty during the first quarter worth about $11,130,000. Millennium Management LLC lifted its position in Getty Realty by 42.3% during the 3rd quarter. Millennium Management LLC now owns 1,142,413 shares of the real estate investment trust's stock worth $30,651,000 after acquiring an additional 339,388 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its position in shares of Getty Realty by 58.8% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 802,660 shares of the real estate investment trust's stock worth $21,969,000 after purchasing an additional 297,229 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GTY has been the subject of several research analyst reports. Huntington began coverage on shares of Getty Realty in a research report on Wednesday, July 15th. They issued an "outperform" rating and a $37.00 target price for the company. Citigroup restated an "outperform" rating on shares of Getty Realty in a research note on Thursday, July 23rd. Robert W. Baird increased their price objective on shares of Getty Realty from $34.00 to $36.00 and gave the company a "neutral" rating in a report on Thursday, July 23rd. Royal Bank Of Canada boosted their target price on shares of Getty Realty from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Friday, July 24th. Finally, Weiss Ratings raised Getty Realty from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 13th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $35.29.

Getty Realty Trading Up 0.5%

Shares of Getty Realty stock opened at $33.41 on Friday. Getty Realty Corporation has a 12-month low of $25.39 and a 12-month high of $36.83. The stock has a market capitalization of $2.07 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 2.97 and a beta of 0.72. The company has a 50-day simple moving average of $33.92 and a 200 day simple moving average of $32.95. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.95.

Getty Realty (NYSE:GTY - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). Getty Realty had a return on equity of 9.27% and a net margin of 42.74%.The business had revenue of $59.05 million during the quarter, compared to analyst estimates of $58.45 million. Getty Realty's quarterly revenue was up 10.9% on a year-over-year basis. Getty Realty has set its FY 2026 guidance at 2.520-2.540 EPS. Research analysts expect that Getty Realty Corporation will post 2.42 earnings per share for the current fiscal year.

Getty Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 24th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.8%. Getty Realty's payout ratio is presently 118.29%.

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.

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