Boston Partners Raises Position in Getty Realty Corp. (NYSE:GTY)

Boston Partners grew its holdings in Getty Realty Corp. (NYSE:GTY) by 154.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,332 shares of the real estate investment trust’s stock after acquiring an additional 48,107 shares during the period. Boston Partners owned about 0.16% of Getty Realty worth $2,683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Oppenheimer & Co. Inc. acquired a new position in Getty Realty during the 2nd quarter worth $889,000. Wellington Management Group LLP raised its holdings in Getty Realty by 145.1% in the first quarter. Wellington Management Group LLP now owns 2,033,521 shares of the real estate investment trust’s stock valued at $73,268,000 after acquiring an additional 1,203,892 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Getty Realty by 2.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 14,078 shares of the real estate investment trust’s stock worth $476,000 after acquiring an additional 400 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Getty Realty during the 2nd quarter worth approximately $842,000. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Getty Realty by 10.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 11,655 shares of the real estate investment trust’s stock valued at $394,000 after purchasing an additional 1,094 shares during the last quarter. Hedge funds and other institutional investors own 83.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GTY. Royal Bank of Canada decreased their price objective on shares of Getty Realty from $33.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 8th. JMP Securities lowered their price objective on Getty Realty from $39.00 to $33.00 and set a “market outperform” rating for the company in a research report on Thursday, October 19th. Finally, StockNews.com assumed coverage on Getty Realty in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $32.33.

Getty Realty Stock Performance

NYSE GTY opened at $29.03 on Tuesday. The company has a fifty day moving average of $27.90 and a two-hundred day moving average of $31.06. The company has a market capitalization of $1.53 billion, a PE ratio of 20.44, a P/E/G ratio of 8.46 and a beta of 0.88. Getty Realty Corp. has a 1 year low of $25.95 and a 1 year high of $36.49. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.19 and a quick ratio of 4.19.

Getty Realty (NYSE:GTY) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.25). The firm had revenue of $48.85 million during the quarter, compared to analysts’ expectations of $44.68 million. Getty Realty had a net margin of 39.13% and a return on equity of 8.39%. As a group, analysts expect that Getty Realty Corp. will post 2.25 earnings per share for the current year.

Getty Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Thursday, December 28th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 27th. This is a positive change from Getty Realty’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.20%. Getty Realty’s dividend payout ratio (DPR) is 126.76%.

About Getty Realty