Bank of America Corp DE Has $24.81 Million Holdings in Getty Realty Corporation $GTY

Key Points

• Bank of America increased its Getty Realty stake by 75.8% in the first quarter, holding 780,288 shares worth approximately $24.8 million, or 1.29% of the REIT. Institutional investors and hedge funds collectively own 85.11% of GTY.
• Analysts maintain a generally positive view, with six Buy ratings and three Holds, an overall “Moderate Buy” consensus, and an average price target of $35.29.
• Getty Realty reported quarterly revenue of $59.05 million, up 10.9% year over year, but narrowly missed EPS estimates. The company declared a $0.485 quarterly dividend, equivalent to a 5.9% annualized yield.

Bank of America Corp DE boosted its stake in Getty Realty Corporation (NYSE:GTY - Free Report) by 75.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 780,288 shares of the real estate investment trust's stock after purchasing an additional 336,431 shares during the period. Bank of America Corp DE owned about 1.29% of Getty Realty worth $24,813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Advisors Asset Management Inc. bought a new stake in Getty Realty in the first quarter valued at approximately $31,000. EverSource Wealth Advisors LLC raised its stake in Getty Realty by 3,996.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,188 shares of the real estate investment trust's stock worth $33,000 after buying an additional 1,159 shares during the last quarter. Avalon Trust Co acquired a new position in Getty Realty in the first quarter valued at $38,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Getty Realty by 36.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,572 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 418 shares during the period. Finally, Danske Bank A S acquired a new position in Getty Realty in the fourth quarter valued at $44,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GTY has been the subject of a number of recent analyst reports. Citigroup reiterated an "outperform" rating on shares of Getty Realty in a report on Thursday, July 23rd. Huntington began coverage on Getty Realty in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $37.00 price objective on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Getty Realty in a research note on Friday, August 7th. Robert W. Baird lifted their target price on Getty Realty from $34.00 to $36.00 and gave the stock a "neutral" rating in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada boosted their price target on Getty Realty from $35.00 to $36.00 and gave the company a "sector perform" rating in a research note on Friday, July 24th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.29.

Getty Realty Stock Down 0.5%

Getty Realty stock opened at $33.00 on Tuesday. Getty Realty Corporation has a 1-year low of $25.39 and a 1-year high of $36.83. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 2.93 and a beta of 0.72. The firm's fifty day moving average price is $33.96 and its two-hundred day moving average price is $33.11. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.95.

Getty Realty (NYSE:GTY - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). Getty Realty had a net margin of 42.74% and a return on equity of 9.27%. The company had revenue of $59.05 million for the quarter, compared to analyst estimates of $58.45 million. The company'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. On average, equities research analysts predict that Getty Realty Corporation will post 2.45 earnings per share for the current fiscal year.

Getty Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 24th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Thursday, September 24th. Getty Realty's payout ratio is currently 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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