Westwood Holdings Group Inc. Decreases Stock Position in Getty Realty Corporation (NYSE:GTY)

Key Points

• Westwood Holdings Group Inc. has reduced its stake in Getty Realty Corporation by 16.7%, selling 37,500 shares and now holding approximately 0.34% of the company valued at $5,846,000.
• Getty Realty reported a miss in earnings with $0.59 EPS for the last quarter, falling short of the expected $0.60, alongside a revenue of $51.31 million against estimated $51.59 million.
• The company announced a quarterly dividend of $0.47 per share, with a yield of 6.7% and a dividend payout ratio of 163.48%, set to be paid on October 9th.

Westwood Holdings Group Inc. cut its stake in Getty Realty Corporation (NYSE:GTY - Free Report) by 16.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,500 shares of the real estate investment trust's stock after selling 37,500 shares during the quarter. Westwood Holdings Group Inc. owned approximately 0.34% of Getty Realty worth $5,846,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in shares of Getty Realty by 11.6% in 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 purchasing an additional 409 shares during the last quarter. Castellan Group acquired a new stake in shares of Getty Realty during the first quarter worth $3,066,000. US Bancorp DE boosted its position in shares of Getty Realty by 52.4% in the first quarter. US Bancorp DE now owns 1,093 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 376 shares during the period. Natixis Advisors LLC grew its stake in shares of Getty Realty by 4.2% in the first quarter. Natixis Advisors LLC now owns 577,696 shares of the real estate investment trust's stock valued at $18,013,000 after acquiring an additional 23,449 shares in the last quarter. Finally, Seizert Capital Partners LLC acquired a new stake in Getty Realty in the 1st quarter worth about $337,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen lowered Getty Realty from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. KeyCorp lowered their price target on shares of Getty Realty from $35.00 to $33.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. UBS Group reduced their price target on Getty Realty from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Finally, Robert W. Baird decreased their price target on shares of Getty Realty from $33.00 to $32.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $32.33.

Getty Realty Stock Down 0.6%

Shares of GTY traded down $0.16 on Monday, reaching $28.34. The company's stock had a trading volume of 79,460 shares, compared to its average volume of 373,883. The stock has a market capitalization of $1.60 billion, a PE ratio of 24.62, a PEG ratio of 2.14 and a beta of 0.83. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.94. Getty Realty Corporation has a twelve month low of $26.42 and a twelve month high of $33.85. The firm has a fifty day moving average of $28.14 and a 200-day moving average of $29.16.

Getty Realty (NYSE:GTY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). Getty Realty had a return on equity of 6.87% and a net margin of 31.62%. The company had revenue of $51.31 million for the quarter, compared to the consensus estimate of $51.59 million. Equities analysts predict that Getty Realty Corporation will post 2.29 EPS for the current year.

Getty Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 25th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend is Thursday, September 25th. Getty Realty's payout ratio is 163.48%.

About Getty Realty