BROOKFIELD Corp ON Reduces Holdings in Getty Realty Corporation $GTY

Key Points

• BROOKFIELD Corp ON has decreased its holdings in Getty Realty Corporation (GTY) by 29.8% in the first quarter, now owning approximately 349,189 shares valued at $10.88 million.
• Institutional investors collectively own 85.11% of Getty Realty stock, with notable activity including LPL Financial increasing its stake by 30.1%.
• Getty Realty recently updated its dividend to $0.47 per share with a yield of 6.6%, despite a payout ratio of 163.48%.

BROOKFIELD Corp ON reduced its position in shares of Getty Realty Corporation (NYSE:GTY - Free Report) by 29.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 349,189 shares of the real estate investment trust's stock after selling 148,254 shares during the period. BROOKFIELD Corp ON owned 0.63% of Getty Realty worth $10,888,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new stake in shares of Getty Realty during the 4th quarter worth about $28,000. Advisors Asset Management Inc. acquired a new stake in shares of Getty Realty during the 1st quarter worth about $31,000. US Bancorp DE boosted its stake in shares of Getty Realty by 52.4% during the 1st quarter. US Bancorp DE now owns 1,093 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 376 shares during the last quarter. Quarry LP boosted its position in shares of Getty Realty by 32.1% in the first quarter. Quarry LP now owns 3,706 shares of the real estate investment trust's stock worth $116,000 after acquiring an additional 900 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Getty Realty by 11.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,933 shares of the real estate investment trust's stock worth $123,000 after acquiring an additional 409 shares during the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Getty Realty from $28.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, August 15th. Wall Street Zen raised shares of Getty Realty from a "sell" rating to a "hold" rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Getty Realty has an average rating of "Moderate Buy" and a consensus price target of $32.67.

Getty Realty Trading Up 0.6%

GTY stock traded up $0.16 during midday trading on Wednesday, reaching $27.92. 109,726 shares of the company's stock traded hands, compared to its average volume of 362,959. The company has a market capitalization of $1.58 billion, a P/E ratio of 24.28, a PEG ratio of 2.11 and a beta of 0.86. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.98 and a quick ratio of 1.98. Getty Realty Corporation has a fifty-two week low of $26.42 and a fifty-two week high of $33.85. The business has a 50-day moving average price of $28.05 and a two-hundred day moving average price of $28.71.

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 business had revenue of $51.31 million for 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. Equities research analysts forecast that Getty Realty Corporation will post 2.29 EPS for the current fiscal year.

Getty Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 25th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Thursday, September 25th. Getty Realty's payout ratio is 163.48%.

Getty Realty Company Profile