Millennium Management LLC Sells 198,353 Shares of Getty Realty Corporation $GTY

Key Points

• Millennium Management LLC has reduced its holdings in Getty Realty Corporation (GTY) by 19.1%, bringing its ownership to approximately 1.51% worth about $26.15 million.
• Getty Realty recently declared a quarterly dividend of $0.47 per share, representing an annualized dividend of $1.88 and a yield of 6.6%.
• Analysts have varied opinions on Getty Realty, with target price estimates ranging from $28.00 to $32.67, reflecting a consensus average rating of "Moderate Buy."

Millennium Management LLC trimmed its position in shares of Getty Realty Corporation (NYSE:GTY - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 838,796 shares of the real estate investment trust's stock after selling 198,353 shares during the period. Millennium Management LLC owned about 1.51% of Getty Realty worth $26,154,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. bought a new position in Getty Realty during the fourth quarter valued at about $28,000. Advisors Asset Management Inc. bought a new position in Getty Realty during the first quarter valued at about $31,000. US Bancorp DE raised its holdings in Getty Realty by 52.4% during the first quarter. US Bancorp DE now owns 1,093 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 376 shares in the last quarter. Quarry LP raised its holdings in Getty Realty by 32.1% during the first quarter. Quarry LP now owns 3,706 shares of the real estate investment trust's stock valued at $116,000 after buying an additional 900 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Getty Realty by 11.6% during the first quarter. PNC Financial Services Group Inc. now owns 3,933 shares of the real estate investment trust's stock valued at $123,000 after buying an additional 409 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. UBS Group lifted their price objective on Getty Realty from $28.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. Wall Street Zen upgraded Getty Realty from a "sell" rating to a "hold" rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Getty Realty presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.67.

Getty Realty Price Performance

NYSE GTY traded down $0.23 during trading on Friday, reaching $28.26. 248,060 shares of the company traded hands, compared to its average volume of 281,635. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.98 and a current ratio of 1.98. The stock's 50 day moving average price is $28.03 and its two-hundred day moving average price is $28.74. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 24.57, a P/E/G ratio of 2.14 and a beta of 0.86. Getty Realty Corporation has a 1-year low of $26.42 and a 1-year high of $33.85.

Getty Realty (NYSE:GTY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). The business had revenue of $51.31 million during the quarter, compared to analyst estimates of $51.59 million. Getty Realty had a return on equity of 6.87% and a net margin of 31.62%. Getty Realty has set its FY 2025 guidance at 2.400-2.41 EPS. As a group, analysts anticipate that Getty Realty Corporation will post 2.29 EPS for the current year.

Getty Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 25th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Thursday, September 25th. Getty Realty's payout ratio is presently 163.48%.

About Getty Realty