Harvest Portfolios Group Inc. Raises Stock Holdings in 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% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GTY. Raymond James Financial Inc. bought a new stake in Getty Realty in the 4th quarter worth approximately $886,000. Mariner LLC bought a new stake in Getty Realty in the 4th quarter worth approximately $228,000. Guggenheim Capital LLC lifted its position in Getty Realty by 8.2% in the 4th quarter. Guggenheim Capital LLC now owns 8,247 shares of the real estate investment trust's stock worth $248,000 after buying an additional 622 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Getty Realty by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 751,412 shares of the real estate investment trust's stock worth $22,640,000 after buying an additional 10,552 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Getty Realty by 6.0% in the 4th quarter. MetLife Investment Management LLC now owns 31,702 shares of the real estate investment trust's stock worth $955,000 after buying an additional 1,804 shares during the last quarter. Institutional investors own 85.11% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on GTY shares. UBS Group boosted their price objective on Getty Realty from $28.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. KeyCorp lowered 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. Finally, Wall Street Zen downgraded Getty Realty from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.67.

Getty Realty Trading Up 0.5%

Shares of GTY traded up $0.15 during mid-day trading on Monday, hitting $28.57. 274,190 shares of the company's stock traded hands, compared to its average volume of 314,797. 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. 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 0.86. The business's 50-day moving average price is $27.95 and its 200-day moving average price is $28.88.

Getty Realty (NYSE:GTY - Get Free Report) last posted its 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 net margin of 31.62% and a return on equity of 6.87%. The business had revenue of $51.31 million for the quarter, compared to analysts' expectations of $51.59 million. Getty Realty has set its FY 2025 guidance at 2.400-2.41 EPS. As a group, sell-side analysts forecast that Getty Realty Corporation will post 2.29 EPS for the current fiscal 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. This represents a $1.88 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Thursday, September 25th. Getty Realty's dividend payout ratio is presently 163.48%.

Getty Realty Company Profile