Harvest Portfolios Group Inc. Buys 18,498 Shares of Getty Realty Corporation $GTY

Key Points

• Harvest Portfolios Group Inc. has increased its holdings in Getty Realty Corporation by 61.9%, acquiring an additional 18,498 shares, thus owning a total of 48,371 shares valued at approximately $1.51 million.
• Multiple hedge funds have increased their stakes in Getty Realty, with Kayne Anderson Rudnick Investment Management LLC owning the most shares, valued at $117.55 million.
• Despite a missed earnings estimate with a reported EPS of $0.59 versus a forecasted $0.60, Getty Realty declared a quarterly dividend of $0.47 per share, yielding 6.6%.

Harvest Portfolios Group Inc. increased its position in Getty Realty Corporation (NYSE:GTY - Free Report) by 61.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,371 shares of the real estate investment trust's stock after buying an additional 18,498 shares during the quarter. Harvest Portfolios Group Inc. owned 0.09% of Getty Realty worth $1,508,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. US Bancorp DE increased its position in 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 valued at $34,000 after purchasing an additional 376 shares during the period. PNC Financial Services Group Inc. increased its position in 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 valued at $123,000 after purchasing an additional 409 shares during the period. Public Employees Retirement System of Ohio increased its position in Getty Realty by 0.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 72,117 shares of the real estate investment trust's stock valued at $2,173,000 after purchasing an additional 519 shares during the period. Cetera Investment Advisers increased its position in Getty Realty by 4.7% during the 4th quarter. Cetera Investment Advisers now owns 12,433 shares of the real estate investment trust's stock valued at $375,000 after purchasing an additional 561 shares during the period. Finally, Guggenheim Capital LLC increased its position in Getty Realty by 8.2% during the 4th 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 during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports 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. UBS Group boosted their price objective on shares of Getty Realty from $28.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. Finally, KeyCorp reduced their target price on shares of Getty Realty from $35.00 to $33.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.67.

Getty Realty Stock Up 0.5%

Shares of NYSE:GTY traded up $0.15 during midday trading on Friday, reaching $28.57. The company's stock had a trading volume of 274,190 shares, compared to its average volume of 319,044. The firm has a 50 day moving average of $27.97 and a 200-day moving average of $28.91. The firm has a market capitalization of $1.62 billion, a P/E ratio of 24.84, a PEG ratio of 2.15 and a beta of 0.83. 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 12-month low of $26.42 and a 12-month high of $33.85.

Getty Realty (NYSE:GTY - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $51.59 million. Getty Realty had a return on equity of 6.87% and a net margin of 31.62%. Getty Realty has set its FY 2025 guidance at 2.400-2.41 EPS. On average, research analysts anticipate that Getty Realty Corporation will post 2.29 earnings per share for the current year.

Getty Realty Dividend Announcement

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

Getty Realty Profile