Heartland Advisors Inc. Invests $11.13 Million in Getty Realty Corporation $GTY

Key Points

• Heartland Advisors Inc. opened a new position in Getty Realty, buying 350,000 shares worth about $11.13 million in the first quarter and taking roughly a 0.58% stake.
• Getty Realty continues to draw strong institutional interest, with several hedge funds significantly increasing holdings and institutional investors owning 85.11% of the stock overall.
• The REIT posted better-than-expected quarterly EPS of $0.43 and pays a 5.4% dividend yield; analysts currently view the stock as a Moderate Buy with a consensus target price of $34.17.

Heartland Advisors Inc. purchased a new position in shares of Getty Realty Corporation (NYSE:GTY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 350,000 shares of the real estate investment trust's stock, valued at approximately $11,130,000. Heartland Advisors Inc. owned approximately 0.58% of Getty Realty as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GTY. Schonfeld Strategic Advisors LLC grew its stake in Getty Realty by 2,308.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 457,536 shares of the real estate investment trust's stock valued at $12,276,000 after purchasing an additional 438,540 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Getty Realty by 164.7% during the fourth quarter. Marshall Wace LLP now owns 637,865 shares of the real estate investment trust's stock worth $17,458,000 after acquiring an additional 396,897 shares during the period. Millennium Management LLC grew its holdings in Getty Realty by 42.3% in the 3rd quarter. Millennium Management LLC now owns 1,142,413 shares of the real estate investment trust's stock valued at $30,651,000 after buying an additional 339,388 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC grew its stake in shares of Getty Realty by 58.8% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 802,660 shares of the real estate investment trust's stock valued at $21,969,000 after acquiring an additional 297,229 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Getty Realty by 419.7% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 286,923 shares of the real estate investment trust's stock worth $7,698,000 after purchasing an additional 231,714 shares in the last quarter. Institutional investors own 85.11% of the company's stock.

Analyst Upgrades and Downgrades

GTY has been the subject of a number of analyst reports. KeyCorp lifted their price target on shares of Getty Realty from $33.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 14th. Robert W. Baird lifted their price objective on Getty Realty from $32.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, April 23rd. Citigroup reissued a "market outperform" rating on shares of Getty Realty in a report on Friday, June 12th. Weiss Ratings raised Getty Realty from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $35.00 price objective on shares of Getty Realty in a research report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.17.

Getty Realty Stock Up 0.7%

NYSE GTY opened at $36.22 on Friday. The business has a fifty day moving average price of $33.45 and a two-hundred day moving average price of $32.30. The stock has a market capitalization of $2.19 billion, a PE ratio of 23.83, a PEG ratio of 2.99 and a beta of 0.72. Getty Realty Corporation has a fifty-two week low of $25.39 and a fifty-two week high of $36.53. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.24 and a quick ratio of 2.24.

Getty Realty (NYSE:GTY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.09. Getty Realty had a return on equity of 8.76% and a net margin of 40.06%.The company had revenue of $57.84 million during the quarter, compared to analysts' expectations of $58.41 million. During the same quarter in the previous year, the firm earned $0.59 EPS. Getty Realty's revenue was up 10.5% on a year-over-year basis. Getty Realty has set its FY 2026 guidance at 2.500-2.52 EPS. Equities analysts expect that Getty Realty Corporation will post 2.42 earnings per share for the current fiscal year.

Getty Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 25th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.94 annualized dividend and a yield of 5.4%. Getty Realty's payout ratio is presently 127.63%.

About Getty Realty

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company's portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.

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