Bank of New York Mellon Corp Buys Shares of 500,807 Getty Realty Corporation $GTY

Key Points

• Bank of New York Mellon acquired 500,807 Getty Realty shares worth approximately $16.7 million, giving it a 0.81% stake. Institutional investors collectively own 85.11% of GTY.
• Getty Realty reported quarterly revenue of $59.05 million, up 10.9% year over year, but earnings per share of $0.36 fell short of analyst expectations by $0.01.
• The REIT declared a quarterly dividend of $0.485, equivalent to $1.94 annually and a 6.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $35.29.

Bank of New York Mellon Corp bought a new position in shares of Getty Realty Corporation (NYSE:GTY - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 500,807 shares of the real estate investment trust's stock, valued at approximately $16,707,000. Bank of New York Mellon Corp owned approximately 0.81% of Getty Realty at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State of Wyoming purchased a new position in shares of Getty Realty in the second quarter valued at $284,000. GSA Capital Partners LLP purchased a new stake in Getty Realty during the 2nd quarter worth about $1,516,000. Avalon Trust Co bought a new position in Getty Realty in the 2nd quarter worth about $40,000. Handelsbanken Fonder AB boosted its stake in Getty Realty by 9.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 20,216 shares of the real estate investment trust's stock worth $674,000 after purchasing an additional 1,800 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Getty Realty by 19.1% during the 2nd quarter. GAMMA Investing LLC now owns 8,991 shares of the real estate investment trust's stock valued at $300,000 after buying an additional 1,444 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

Getty Realty Trading Down 1.5%

GTY stock opened at $32.39 on Tuesday. The company has a market capitalization of $2.01 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.26 and a current ratio of 2.26. Getty Realty Corporation has a one year low of $25.39 and a one year high of $36.83. The company's 50 day moving average price is $33.97 and its two-hundred day moving average price is $33.32.

Getty Realty (NYSE:GTY - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $59.05 million during the quarter, compared to analysts' expectations of $58.45 million. Getty Realty had a net margin of 42.74% and a return on equity of 9.27%. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. Getty Realty has set its FY 2026 guidance at 2.520-2.540 EPS. As a group, analysts predict that Getty Realty Corporation will post 2.45 earnings per share for the current fiscal year.

Getty Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 24th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Thursday, September 24th. Getty Realty's payout ratio is 118.29%.

Analysts Set New Price Targets

GTY has been the topic of several analyst reports. Citigroup reiterated an "outperform" rating on shares of Getty Realty in a research report on Thursday, July 23rd. Robert W. Baird raised their price objective on shares of Getty Realty from $34.00 to $36.00 and gave the company a "neutral" rating in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Getty Realty in a research note on Friday, August 7th. KeyCorp upped their target price on shares of Getty Realty from $33.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, May 14th. Finally, Huntington began coverage on shares of Getty Realty in a report on Wednesday, July 15th. They issued an "outperform" rating and a $37.00 price target for the company. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Getty Realty presently has a consensus rating of "Moderate Buy" and an average price target of $35.29.

Getty Realty Company 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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