Boston Partners Acquires 12,754 Shares of Getty Realty Corporation $GTY

Key Points

• Boston Partners has increased its stake in Getty Realty Corporation by 18.5% during the first quarter, now holding approximately 81,668 shares valued at about $2.55 million.
• Several institutional investors, including Public Sector Pension Investment Board and Russell Investments Group Ltd., have also significantly raised their holdings in Getty Realty.
• Despite a recent quarterly dividend announcement of $0.47 per share, Getty Realty reported lower-than-expected earnings of $0.59 per share, missing analyst estimates by $0.01.

Boston Partners boosted its position in Getty Realty Corporation (NYSE:GTY - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,668 shares of the real estate investment trust's stock after purchasing an additional 12,754 shares during the quarter. Boston Partners owned about 0.15% of Getty Realty worth $2,546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GTY. Raymond James Financial Inc. bought a new stake in shares of Getty Realty during the 4th quarter worth about $886,000. Sterling Capital Management LLC raised its holdings in shares of Getty Realty by 821.5% during the fourth 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 period. Mariner LLC purchased a new position in Getty Realty during the fourth quarter valued at approximately $228,000. Guggenheim Capital LLC grew its position in Getty Realty by 8.2% during the fourth quarter. Guggenheim Capital LLC now owns 8,247 shares of the real estate investment trust's stock valued at $248,000 after purchasing an additional 622 shares in the last quarter. Finally, Jump Financial LLC grew its position in Getty Realty by 9.3% during the fourth quarter. Jump Financial LLC now owns 16,970 shares of the real estate investment trust's stock valued at $511,000 after purchasing an additional 1,446 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen downgraded shares of Getty Realty from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Robert W. Baird cut their target price on shares of Getty Realty from $33.00 to $32.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. KeyCorp dropped their price objective on shares of Getty Realty from $35.00 to $33.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, UBS Group increased their price objective on shares of Getty Realty from $28.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. Three equities 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.com, Getty Realty has a consensus rating of "Moderate Buy" and an average target price of $32.67.

Getty Realty Trading Up 1.2%

Shares of NYSE:GTY traded up $0.3330 during mid-day trading on Friday, reaching $29.0830. The stock had a trading volume of 58,048 shares, compared to its average volume of 371,299. The firm has a market cap of $1.65 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 2.16 and a beta of 0.83. The firm has a 50 day simple moving average of $27.99 and a two-hundred day simple moving average of $29.02. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.94. Getty Realty Corporation has a twelve month low of $26.42 and a twelve month high of $33.85.

Getty Realty (NYSE:GTY - Get Free Report) last announced its quarterly 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). The firm had revenue of $51.31 million during the quarter, compared to analyst estimates of $51.59 million. Getty Realty had a net margin of 31.62% and a return on equity of 6.87%. Getty Realty has set its FY 2025 guidance at 2.400-2.41 EPS. On average, research analysts predict that Getty Realty Corporation will post 2.29 EPS for the current fiscal year.

Getty Realty Dividend Announcement

The business 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. This represents a $1.88 annualized dividend and a yield of 6.5%. The ex-dividend date is Thursday, September 25th. Getty Realty's dividend payout ratio (DPR) is 163.48%.

About Getty Realty