Getty Realty (NYSE:GTY) Posts Quarterly Earnings Results

Key Points

• Getty Realty reported $0.62 earnings per share (EPS) for the quarter, surpassing the consensus estimate of $0.61, with a return on equity of 6.87% and a net margin of 31.62%.
• The company declared a quarterly dividend of $0.485 per share, an increase from its previous dividend, representing an annualized yield of 7.0%.
• Institutional investors hold 85.11% of Getty Realty's stock, with significant recent increases in positions by firms including Osaic Holdings Inc. and Amundi.

Getty Realty (NYSE:GTY - Get Free Report) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01, Zacks reports. Getty Realty had a return on equity of 6.87% and a net margin of 31.62%.

Getty Realty Price Performance

Shares of GTY stock traded up $0.07 during midday trading on Wednesday, reaching $27.59. 423,820 shares of the company traded hands, compared to its average volume of 360,796. The firm's 50 day simple moving average is $27.58 and its two-hundred day simple moving average is $28.02. Getty Realty has a 1-year low of $25.39 and a 1-year high of $33.85. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.98 and a quick ratio of 1.98. The firm has a market cap of $1.56 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 1.98 and a beta of 0.82.

Getty Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Friday, December 26th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, December 26th. This is a positive change from Getty Realty's previous quarterly dividend of $0.47. Getty Realty's payout ratio is 163.48%.

Institutional Investors Weigh In On Getty Realty

Hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its position in shares of Getty Realty by 210.4% during the 2nd quarter. Osaic Holdings Inc. now owns 37,560 shares of the real estate investment trust's stock valued at $1,038,000 after acquiring an additional 25,459 shares during the period. Amundi raised its position in shares of Getty Realty by 12.7% during the 1st quarter. Amundi now owns 30,647 shares of the real estate investment trust's stock worth $930,000 after purchasing an additional 3,463 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Getty Realty by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,441 shares of the real estate investment trust's stock valued at $703,000 after buying an additional 548 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in Getty Realty during the 2nd quarter valued at $560,000. Finally, American Century Companies Inc. increased its position in Getty Realty by 10.4% during the second quarter. American Century Companies Inc. now owns 19,196 shares of the real estate investment trust's stock worth $531,000 after buying an additional 1,814 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Getty Realty in a report on Wednesday, October 8th. Janney Montgomery Scott started coverage on Getty Realty in a research report on Thursday, October 16th. They issued a "buy" rating and a $30.00 price target on the stock. UBS Group boosted their price target on Getty Realty from $28.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. Finally, Wall Street Zen upgraded Getty Realty from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.80.

Getty Realty Company Profile

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.