Short Interest in Getty Realty Corporation (NYSE:GTY) Declines By 30.3%

Key Points

• Short interest in Getty Realty Corporation decreased by 30.3% in September, dropping from 3,630,000 shares to 2,530,000 shares.
• The company reported $0.62 earnings per share for the last quarter, exceeding analysts' expectations, with total revenue of $55.59 million.
• Getty Realty announced a quarterly dividend of $0.485, reflecting an increase from the previous dividend and representing a 6.9% dividend yield.

Getty Realty Corporation (NYSE:GTY - Get Free Report) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 2,530,000 shares, a drop of 30.3% from the September 15th total of 3,630,000 shares. Based on an average daily trading volume, of 342,500 shares, the short-interest ratio is presently 7.4 days. Based on an average daily trading volume, of 342,500 shares, the short-interest ratio is presently 7.4 days.

Institutional Trading of Getty Realty

Several hedge funds have recently modified their holdings of GTY. Asset Management One Co. Ltd. increased its stake in shares of Getty Realty by 2.8% in the 1st quarter. Asset Management One Co. Ltd. now owns 142,565 shares of the real estate investment trust's stock valued at $4,445,000 after acquiring an additional 3,852 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Getty Realty in the 1st quarter valued at $445,000. Clear Creek Financial Management LLC increased its stake in shares of Getty Realty by 29.7% in the 1st quarter. Clear Creek Financial Management LLC now owns 11,881 shares of the real estate investment trust's stock valued at $370,000 after acquiring an additional 2,723 shares in the last quarter. DAVENPORT & Co LLC increased its stake in shares of Getty Realty by 8.1% in the 1st quarter. DAVENPORT & Co LLC now owns 45,042 shares of the real estate investment trust's stock valued at $1,404,000 after acquiring an additional 3,389 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Getty Realty by 21.8% in the 1st quarter. Teacher Retirement System of Texas now owns 44,950 shares of the real estate investment trust's stock valued at $1,402,000 after acquiring an additional 8,056 shares in the last quarter. Institutional investors own 85.11% of the company's stock.

Getty Realty Trading Up 2.4%

Shares of NYSE GTY traded up $0.67 during midday trading on Thursday, reaching $28.20. The stock had a trading volume of 592,493 shares, compared to its average volume of 361,942. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 1.99 and a beta of 0.82. Getty Realty has a twelve month low of $25.39 and a twelve month high of $33.85. 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 company's 50 day moving average price is $27.57 and its 200 day moving average price is $28.01.

Getty Realty (NYSE:GTY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The firm had revenue of $55.59 million for the quarter, compared to the consensus estimate of $53.19 million. Getty Realty had a net margin of 31.62% and a return on equity of 6.87%. Getty Realty has set its FY 2025 guidance at 2.420-2.430 EPS. As a group, sell-side analysts expect that Getty Realty will post 2.29 EPS for the current year.

Getty Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Friday, December 26th will be paid a $0.485 dividend. The ex-dividend date is Friday, December 26th. This represents a $1.94 annualized dividend and a dividend yield of 6.9%. This is an increase from Getty Realty's previous quarterly dividend of $0.47. Getty Realty's dividend payout ratio (DPR) is presently 163.48%.

Analysts Set New Price Targets

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

About Getty Realty

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