Getty Realty Corporation (NYSE:GTY) Shares Shorted: Short Interest Down 44.0% in September

Key Points

• Getty Realty’s short interest fell 44% in September to 3.44 million shares, representing 6.0% of shares outstanding and a short-interest ratio of 4.1 days.
• Institutional ownership stands at 85.11%, with BlackRock, Bank of America, Fidelity National Financial and Sound Income Strategies among investors establishing or increasing positions.
• GTY shares recently traded at $28.31, while analysts maintain a “Moderate Buy” consensus with an average $35.75 target. The REIT also offers a $1.94 annualized dividend, yielding 6.9%.

Getty Realty Corporation (NYSE:GTY - Get Free Report) was the target of a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 3,439,466 shares, a decrease of 44.0% from the September 15th total of 6,147,202 shares. Currently, 6.0% of the shares of the stock are sold short. Based on an average daily volume of 839,977 shares, the short-interest ratio is presently 4.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GTY. BlackRock Inc. acquired a new position in shares of Getty Realty in the 2nd quarter valued at about $344,815,000. Dimensional Fund Advisors LP boosted its position in shares of Getty Realty by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 802,609 shares of the real estate investment trust's stock valued at $25,523,000 after purchasing an additional 39,683 shares in the last quarter. Bank of America Corp DE acquired a new stake in Getty Realty during the second quarter worth approximately $25,120,000. Fidelity National Financial Inc. acquired a new stake in Getty Realty during the second quarter worth approximately $20,089,000. Finally, Sound Income Strategies LLC acquired a new stake in Getty Realty during the third quarter worth approximately $18,326,000. Institutional investors and hedge funds own 85.11% of the company's stock.

Getty Realty Trading Up 1.4%

Shares of NYSE GTY traded up $0.40 during trading on Thursday, reaching $28.31. The company had a trading volume of 482,283 shares, compared to its average volume of 537,515. The stock has a market cap of $1.75 billion, a P/E ratio of 17.26, a PEG ratio of 2.06 and a beta of 0.72. The company's fifty day moving average price is $31.00 and its 200-day moving average price is $32.65. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.95. Getty Realty has a 12 month low of $26.44 and a 12 month high of $36.83.

Getty Realty (NYSE:GTY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). The company had revenue of $59.05 million for the quarter, compared to the consensus estimate of $58.45 million. Getty Realty had a return on equity of 9.27% and a net margin of 42.74%. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. Getty Realty has set its FY 2026 guidance at 2.520-2.540 EPS. As a group, research analysts expect that Getty Realty will post 2.45 earnings per share for the current year.

Getty Realty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 24th were issued a dividend of $0.4850 per share. The ex-dividend date was Thursday, September 24th. This represents a $1.94 annualized dividend and a yield of 6.9%. Getty Realty's dividend payout ratio (DPR) is presently 118.29%.

Analyst Ratings Changes

A number of analysts have weighed in on GTY shares. Deutsche Bank Aktiengesellschaft set a $39.00 target price on shares of Getty Realty in a research note on Wednesday, September 23rd. KeyCorp reiterated an "overweight" rating and issued a $36.00 price target on shares of Getty Realty in a research note on Thursday, September 24th. Weiss Ratings cut Getty Realty from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 9th. Citigroup reissued a "market outperform" rating on shares of Getty Realty in a report on Wednesday, September 23rd. Finally, Robert W. Baird boosted their price objective on Getty Realty from $34.00 to $36.00 and gave the stock a "neutral" rating in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $35.75.

Getty Realty Company Profile

Getty Realty Corp. NYSE: GTY is a real estate investment trust that owns, leases and develops properties used primarily for convenience stores, gasoline stations and automotive service businesses. The company's portfolio also includes properties supporting car washes, quick-service restaurants and other automotive-related activities.

Getty Realty generally leases its properties to operators under long-term, often triple-net lease agreements, under which tenants are responsible for many property-level expenses such as taxes, insurance and maintenance.

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