BlackRock Inc. Buys Shares of 10,336,172 Getty Realty Corporation $GTY

Key Points

• BlackRock acquired 10.34 million Getty Realty shares worth approximately $344.8 million, giving it a 16.69% stake. Institutional investors collectively own 85.11% of the REIT.
• Analysts maintain a generally positive outlook, with six Buy ratings and three Holds. Getty Realty has a “Moderate Buy” consensus rating and an average price target of $35.29.
• Getty Realty declared a quarterly dividend of $0.485, or $1.94 annually, representing a 5.8% yield. Quarterly revenue rose 10.9% year over year, though adjusted earnings of $0.36 per share narrowly missed estimates.

BlackRock Inc. bought a new position in shares of Getty Realty Corporation (NYSE:GTY - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,336,172 shares of the real estate investment trust's stock, valued at approximately $344,815,000. BlackRock Inc. owned about 16.69% of Getty Realty at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. LSV Asset Management grew its holdings in Getty Realty by 1,467.5% during the fourth quarter. LSV Asset Management now owns 233,563 shares of the real estate investment trust's stock valued at $6,393,000 after purchasing an additional 218,663 shares during the period. Vanguard Group Inc. raised its holdings in Getty Realty by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,488,950 shares of the real estate investment trust's stock worth $232,343,000 after purchasing an additional 102,670 shares during the period. Ranch Capital Advisors Inc. bought a new position in shares of Getty Realty during the first quarter worth $1,777,000. Legal & General Group Plc grew its holdings in shares of Getty Realty by 17.6% in the 4th quarter. Legal & General Group Plc now owns 368,845 shares of the real estate investment trust's stock valued at $10,095,000 after buying an additional 55,149 shares during the period. Finally, Heartland Advisors Inc. acquired a new position in shares of Getty Realty in the 1st quarter valued at $11,130,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on GTY. Robert W. Baird raised their price objective on Getty Realty from $34.00 to $36.00 and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. KeyCorp raised their price target on Getty Realty from $33.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, May 14th. Royal Bank Of Canada boosted their price objective on Getty Realty from $35.00 to $36.00 and gave the company a "sector perform" rating in a research report on Friday, July 24th. Huntington started coverage on shares of Getty Realty in a report on Wednesday, July 15th. They set an "outperform" rating and a $37.00 target price on the stock. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Getty Realty in a report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $35.29.

Getty Realty Trading Up 0.5%

Shares of NYSE:GTY opened at $33.56 on Wednesday. The company's 50-day moving average price is $33.95 and its two-hundred day moving average price is $33.26. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.26 and a quick ratio of 2.26. Getty Realty Corporation has a one year low of $25.39 and a one year high of $36.83. The stock has a market capitalization of $2.08 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 2.94 and a beta of 0.72.

Getty Realty (NYSE:GTY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). The business had revenue of $59.05 million for the quarter, compared to analyst estimates of $58.45 million. Getty Realty had a return on equity of 9.27% and a net margin of 42.74%.The business'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. On average, equities analysts forecast that Getty Realty Corporation will post 2.45 EPS 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 5.8%. The ex-dividend date is Thursday, September 24th. Getty Realty's dividend payout ratio (DPR) is currently 118.29%.

About Getty Realty

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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