Charles Schwab Investment Management Inc. Sells 29,341 Shares of Getty Realty Corporation $GTY

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Getty Realty Corporation by 3.8%, selling 29,341 shares and now owning approximately 1.33% of the company valued at $23,074,000.
• Getty Realty's quarterly earnings report showed an EPS of $0.59, which missed analyst expectations of $0.60, with revenues totaling $51.31 million.
• The company declared a quarterly dividend of $0.47 per share, with a yield of 6.6%, though its payout ratio stands at an unusually high 163.48%.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Getty Realty Corporation (NYSE:GTY - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 740,012 shares of the real estate investment trust's stock after selling 29,341 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.33% of Getty Realty worth $23,074,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in shares of Getty Realty during the 4th quarter worth about $28,000. US Bancorp DE lifted its position 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. Sterling Capital Management LLC lifted its position in shares of Getty Realty by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,585 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 1,413 shares during the last quarter. Quarry LP lifted its position in shares of Getty Realty by 468.0% during the 4th quarter. Quarry LP now owns 2,806 shares of the real estate investment trust's stock worth $85,000 after purchasing an additional 2,312 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Getty Realty by 11.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,933 shares of the real estate investment trust's stock worth $123,000 after purchasing an additional 409 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GTY. KeyCorp cut their price objective on Getty Realty from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Wall Street Zen cut Getty Realty from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, UBS Group upped their price target on Getty Realty from $28.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Getty Realty has an average rating of "Moderate Buy" and an average target price of $32.67.

Getty Realty Stock Performance

Getty Realty stock traded up $0.16 during trading hours on Wednesday, hitting $28.56. The stock had a trading volume of 359,096 shares, compared to its average volume of 336,751. The company has a 50-day moving average of $27.98 and a two-hundred day moving average of $28.95. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.94. The company has a market cap of $1.62 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 2.13 and a beta of 0.83. Getty Realty Corporation has a fifty-two week low of $26.42 and a fifty-two week high of $33.85.

Getty Realty (NYSE:GTY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.59 EPS for the quarter, missing the consensus estimate 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, equities research analysts anticipate that Getty Realty Corporation will post 2.29 EPS for the current fiscal 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 paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Thursday, September 25th. Getty Realty's dividend payout ratio is currently 163.48%.

About Getty Realty