Cornercap Investment Counsel Inc. Increases Stake in Getty Realty Corp. (NYSE:GTY)

Cornercap Investment Counsel Inc. grew its position in shares of Getty Realty Corp. (NYSE:GTY) by 116.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,214 shares of the real estate investment trust’s stock after purchasing an additional 12,478 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Getty Realty were worth $678,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GTY. IFP Advisors Inc bought a new position in Getty Realty during the 2nd quarter valued at about $26,000. Baystate Wealth Management LLC bought a new position in Getty Realty during the fourth quarter valued at approximately $29,000. Natixis bought a new position in Getty Realty during the fourth quarter valued at approximately $42,000. Vestcor Inc purchased a new stake in Getty Realty in the second quarter worth approximately $57,000. Finally, FMR LLC grew its position in Getty Realty by 68.3% in the 1st quarter. FMR LLC now owns 1,703 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 691 shares during the period. Institutional investors own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

GTY has been the topic of several research analyst reports. StockNews.com cut Getty Realty from a “hold” rating to a “sell” rating in a report on Saturday. JMP Securities reissued a “market outperform” rating and issued a $33.00 target price on shares of Getty Realty in a report on Monday, March 25th.

Getty Realty Stock Down 1.9 %

Shares of GTY stock opened at $26.11 on Wednesday. The company has a current ratio of 3.73, a quick ratio of 3.73 and a debt-to-equity ratio of 0.79. Getty Realty Corp. has a 12 month low of $25.90 and a 12 month high of $35.56. The stock has a market cap of $1.41 billion, a P/E ratio of 22.70 and a beta of 0.89. The company has a 50 day simple moving average of $26.94 and a two-hundred day simple moving average of $27.85.

Getty Realty (NYSE:GTY) last posted its quarterly earnings data on Wednesday, February 14th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.27). The company had revenue of $45.62 million during the quarter, compared to analysts’ expectations of $47.19 million. Getty Realty had a return on equity of 6.72% and a net margin of 32.37%. On average, research analysts expect that Getty Realty Corp. will post 2.31 earnings per share for the current year.

Getty Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 28th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.89%. Getty Realty’s payout ratio is currently 156.52%.

Getty Realty Profile