Legal & General Group Plc Buys Shares of 343,733 Getty Realty Corporation $GTY

Key Points

• Legal & General Group acquired 343,733 Getty Realty shares worth approximately $11.5 million, giving it a 0.56% stake. Institutional investors collectively own 85.11% of the REIT.
• Analysts maintain a positive outlook, with six Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $35.29.
• Getty Realty reported quarterly revenue of $59.05 million, up 10.9% year over year, though earnings of $0.36 per share slightly missed estimates. The company declared a quarterly dividend of $0.485 per share, equivalent to a 6.0% annualized yield.

Legal & General Group Plc purchased a new position in shares of Getty Realty Corporation (NYSE:GTY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 343,733 shares of the real estate investment trust's stock, valued at approximately $11,467,000. Legal & General Group Plc owned approximately 0.56% of Getty Realty at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Huntington initiated coverage on Getty Realty in a research note on Wednesday, July 15th. They set an "outperform" rating and a $37.00 target price for the company. Citigroup reissued an "outperform" rating on shares of Getty Realty in a report on Thursday, July 23rd. Robert W. Baird raised their price objective on shares of Getty Realty from $34.00 to $36.00 and gave the company a "neutral" rating in a research report on Thursday, July 23rd. Citizens Jmp lifted their price objective on shares of Getty Realty from $35.00 to $39.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Getty Realty in a report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $35.29.

Getty Realty Stock Performance

Shares of NYSE GTY opened at $32.39 on Tuesday. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 2.90 and a beta of 0.72. The stock's fifty day simple moving average is $33.97 and its 200 day simple moving average is $33.32. Getty Realty Corporation has a 52-week low of $25.39 and a 52-week high of $36.83.

Getty Realty (NYSE:GTY - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). Getty Realty had a net margin of 42.74% and a return on equity of 9.27%. The company had revenue of $59.05 million for the quarter, compared to analysts' expectations of $58.45 million. The firm's revenue for the quarter 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. As a group, sell-side analysts forecast that Getty Realty Corporation will post 2.45 earnings per share for the current fiscal year.

Getty Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 24th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $1.94 dividend on an annualized basis and a yield of 6.0%. Getty Realty's dividend payout ratio is currently 118.29%.

Getty Realty Company Profile

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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