Ieq Capital LLC Makes New $1.21 Million Investment in Getty Realty Corporation $GTY

Key Points

• Ieq Capital LLC acquired 36,201 Getty Realty shares worth approximately $1.21 million, while institutional investors collectively own 85.11% of the REIT.
• Getty Realty reported quarterly revenue of $59.05 million, up 10.9% year over year, though earnings per share of $0.36 fell slightly short of estimates.
• The company declared a quarterly dividend of $0.485 per share, equating to an annualized $1.94 payout and a 5.8% yield; analysts maintain a “Moderate Buy” consensus with a $35.29 price target.

Ieq Capital LLC bought a new position in shares of Getty Realty Corporation (NYSE:GTY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 36,201 shares of the real estate investment trust's stock, valued at approximately $1,208,000. Ieq Capital LLC owned 0.06% of Getty Realty as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Getty Realty in the 2nd quarter valued at approximately $344,815,000. Vanguard Group Inc. raised its holdings in Getty Realty by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,488,950 shares of the real estate investment trust's stock worth $232,343,000 after purchasing an additional 102,670 shares in the last quarter. State Street Corp raised its holdings in Getty Realty by 1.5% in the fourth quarter. State Street Corp now owns 4,035,598 shares of the real estate investment trust's stock worth $112,262,000 after purchasing an additional 60,137 shares in the last quarter. Geode Capital Management LLC lifted its position in Getty Realty by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,472,865 shares of the real estate investment trust's stock valued at $40,318,000 after buying an additional 28,155 shares during the period. Finally, Millennium Management LLC lifted its position in Getty Realty by 42.3% during the third 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 during the period. Institutional investors own 85.11% of the company's stock.

Getty Realty Stock Performance

Shares of GTY stock opened at $33.25 on Thursday. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 2.96 and a beta of 0.72. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.26 and a current ratio of 2.26. Getty Realty Corporation has a one year low of $25.39 and a one year high of $36.83. The company's 50-day moving average is $33.97 and its 200 day moving average is $33.28.

Getty Realty (NYSE:GTY - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). Getty Realty had a return on equity of 9.27% and a net margin of 42.74%.The firm had revenue of $59.05 million during the quarter, compared to the consensus estimate of $58.45 million. The company's revenue was up 10.9% compared to the same quarter last year. Getty Realty has set its FY 2026 guidance at 2.520-2.540 EPS. Sell-side analysts expect that Getty Realty Corporation will post 2.45 EPS for the current fiscal year.

Getty Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 24th will be given a $0.485 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $1.94 annualized dividend and a yield of 5.8%. Getty Realty's dividend payout ratio is 118.29%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GTY. Royal Bank Of Canada upped their target price on shares of Getty Realty from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Friday, July 24th. Huntington started coverage on shares of Getty Realty in a research report on Wednesday, July 15th. They set an "outperform" rating and a $37.00 price target for the company. Robert W. Baird boosted their price objective on shares of Getty Realty from $34.00 to $36.00 and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. Citizens Jmp upped their price objective on shares of Getty Realty from $35.00 to $39.00 and gave the stock a "market outperform" rating in a report on Thursday, July 23rd. Finally, KeyCorp lifted their target price on shares of Getty Realty from $33.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 14th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Getty Realty presently has an average rating of "Moderate Buy" and a consensus price target of $35.29.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source