Legal & General Group Plc Purchases 55,149 Shares of Getty Realty Corporation $GTY

Key Points

• Legal & General Group Plc increased its stake in Getty Realty by 17.6% in the fourth quarter, buying 55,149 additional shares and bringing its total holding to 368,845 shares worth about $10.1 million.
• Getty Realty reported better-than-expected quarterly earnings of $0.43 per share, topping estimates by $0.09, while revenue came in slightly below expectations at $57.84 million.
• The REIT declared a quarterly dividend of $0.485 per share, implying an annualized yield of 6.0%, though its payout ratio is high at 127.63%.

Legal & General Group Plc grew its position in Getty Realty Corporation (NYSE:GTY - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 368,845 shares of the real estate investment trust's stock after purchasing an additional 55,149 shares during the quarter. Legal & General Group Plc owned approximately 0.64% of Getty Realty worth $10,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Schonfeld Strategic Advisors LLC increased its stake in Getty Realty by 2,308.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 457,536 shares of the real estate investment trust's stock worth $12,276,000 after buying an additional 438,540 shares during the period. Millennium Management LLC grew its holdings in Getty Realty by 42.3% during the 3rd quarter. Millennium Management LLC now owns 1,142,413 shares of the real estate investment trust's stock worth $30,651,000 after acquiring an additional 339,388 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 acquiring an additional 231,714 shares in the last quarter. LSV Asset Management grew its holdings in Getty Realty by 1,467.5% during the 4th quarter. LSV Asset Management now owns 233,563 shares of the real estate investment trust's stock worth $6,393,000 after acquiring an additional 218,663 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Getty Realty by 58.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 527,290 shares of the real estate investment trust's stock worth $14,574,000 after acquiring an additional 193,851 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Robert W. Baird increased their target price on shares of Getty Realty from $32.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday, April 23rd. UBS Group increased their target price on shares of Getty Realty from $29.00 to $33.00 and gave the stock a "neutral" rating in a report on Monday, March 9th. KeyCorp increased their target price on shares of Getty Realty from $33.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, May 14th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $35.00 target price on shares of Getty Realty in a report on Friday, April 24th. Finally, Weiss Ratings upgraded shares of Getty Realty from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.60.

Getty Realty Stock Up 0.3%

NYSE:GTY opened at $32.21 on Friday. Getty Realty Corporation has a fifty-two week low of $25.39 and a fifty-two week high of $34.75. The stock has a market capitalization of $1.95 billion, a P/E ratio of 21.19, a P/E/G ratio of 2.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.24 and a current ratio of 2.24. The company's 50-day simple moving average is $33.01 and its 200-day simple moving average is $31.12.

Getty Realty (NYSE:GTY - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.09. Getty Realty had a net margin of 40.06% and a return on equity of 8.76%. The business had revenue of $57.84 million for the quarter, compared to analysts' expectations of $58.41 million. During the same period last year, the business earned $0.59 EPS. The company's revenue was up 10.5% compared to the same quarter last year. Getty Realty has set its FY 2026 guidance at 2.500-2.52 EPS. On average, equities analysts anticipate that Getty Realty Corporation will post 2.4 earnings per share for the current fiscal year.

Getty Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Thursday, June 25th. Getty Realty's dividend payout ratio (DPR) is currently 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.

Want to see what other hedge funds are holding GTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Getty Realty Corporation (NYSE:GTY - Free Report).

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.