Northern Trust Corp Acquires 137,427 Shares of Getty Realty Corp. (NYSE:GTY)

Northern Trust Corp boosted its position in Getty Realty Corp. (NYSE:GTY - Free Report) by 23.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 722,654 shares of the real estate investment trust's stock after buying an additional 137,427 shares during the quarter. Northern Trust Corp owned approximately 1.31% of Getty Realty worth $21,774,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Getty Realty by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 7,863,821 shares of the real estate investment trust's stock worth $236,937,000 after purchasing an additional 48,491 shares in the last quarter. Geode Capital Management LLC grew its position in Getty Realty by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,297,268 shares of the real estate investment trust's stock valued at $39,095,000 after acquiring an additional 17,618 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Getty Realty by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 751,412 shares of the real estate investment trust's stock worth $22,640,000 after acquiring an additional 10,552 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Getty Realty by 17.1% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 681,231 shares of the real estate investment trust's stock worth $20,525,000 after acquiring an additional 99,530 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Getty Realty by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 586,780 shares of the real estate investment trust's stock valued at $17,680,000 after purchasing an additional 41,826 shares in the last quarter. Institutional investors own 85.11% of the company's stock.

Getty Realty Stock Up 1.8%

GTY stock traded up $0.51 during mid-day trading on Friday, reaching $29.02. 473,208 shares of the company traded hands, compared to its average volume of 325,898. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.94. The firm's 50 day moving average price is $29.12 and its 200 day moving average price is $30.48. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 23.03 and a beta of 0.83. Getty Realty Corp. has a fifty-two week low of $25.70 and a fifty-two week high of $33.85.

Getty Realty (NYSE:GTY - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. The company had revenue of $52.33 million for the quarter, compared to analysts' expectations of $52.71 million. Getty Realty had a return on equity of 7.43% and a net margin of 34.94%. As a group, equities research analysts predict that Getty Realty Corp. will post 2.29 EPS for the current fiscal year.

Getty Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 26th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date of this dividend is Thursday, June 26th. Getty Realty's payout ratio is 155.37%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Robert W. Baird decreased their target price on shares of Getty Realty from $33.00 to $32.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. KeyCorp cut their price target on Getty Realty from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Finally, UBS Group lowered their price objective on Getty Realty from $32.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Getty Realty has an average rating of "Moderate Buy" and a consensus price target of $32.50.

About Getty Realty