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Castellan Group Buys New Stake in Getty Realty Corporation (NYSE:GTY)

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Key Points

  • Castellan Group has acquired 98,341 shares of Getty Realty Corporation (NYSE: GTY) valued at approximately $3,066,000, holding 0.18% of the company as of its latest SEC filing.
  • Analysts have recently adjusted their price targets for Getty Realty, with Robert W. Baird lowering the target from $33.00 to $32.00 and several other firms changing ratings, resulting in an average target price of $32.33.
  • Getty Realty announced a quarterly dividend of $0.47 per share, yielding 6.7%, despite a high dividend payout ratio of 163.48% indicating potential sustainability concerns.
  • Want stock alerts on Getty Realty? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Castellan Group acquired a new stake in shares of Getty Realty Corporation (NYSE:GTY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 98,341 shares of the real estate investment trust's stock, valued at approximately $3,066,000. Castellan Group owned approximately 0.18% of Getty Realty as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GTY. Raymond James Financial Inc. bought a new position in shares of Getty Realty in the 4th quarter valued at about $886,000. American Century Companies Inc. lifted its holdings in shares of Getty Realty by 3.4% in the 4th quarter. American Century Companies Inc. now owns 16,237 shares of the real estate investment trust's stock valued at $489,000 after acquiring an additional 533 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Getty Realty by 20.8% in the 4th quarter. LPL Financial LLC now owns 68,003 shares of the real estate investment trust's stock valued at $2,049,000 after acquiring an additional 11,691 shares during the last quarter. Vanguard Group Inc. lifted its stake in Getty Realty by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 7,863,821 shares of the real estate investment trust's stock worth $236,937,000 after purchasing an additional 48,491 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Getty Realty by 33.9% in the fourth quarter. JPMorgan Chase & Co. now owns 277,500 shares of the real estate investment trust's stock worth $8,361,000 after purchasing an additional 70,327 shares during the last quarter. Institutional investors own 85.11% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GTY. KeyCorp decreased 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. Wall Street Zen downgraded shares of Getty Realty from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. UBS Group decreased their price objective on shares of Getty Realty from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Finally, Robert W. Baird decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $32.33.

Check Out Our Latest Stock Report on Getty Realty

Getty Realty Stock Up 1.4%

GTY stock traded up $0.39 during trading on Monday, hitting $28.43. 56,938 shares of the company's stock traded hands, compared to its average volume of 375,400. The firm has a market capitalization of $1.61 billion, a P/E ratio of 24.71, a PEG ratio of 2.11 and a beta of 0.83. The business has a fifty day simple moving average of $28.20 and a two-hundred day simple moving average of $29.24. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.94. Getty Realty Corporation has a 1 year low of $26.42 and a 1 year high of $33.85.

Getty Realty (NYSE:GTY - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). Getty Realty had a return on equity of 6.87% and a net margin of 31.62%. The firm had revenue of $51.31 million during the quarter, compared to analysts' expectations of $51.59 million. Sell-side analysts anticipate that Getty Realty Corporation will post 2.29 EPS for the current year.

Getty Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 25th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.6%. Getty Realty's payout ratio is 163.48%.

Getty Realty Profile

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Institutional Ownership by Quarter for Getty Realty (NYSE:GTY)

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