Getty Realty Corporation $GTY Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of Getty Realty Corporation (NYSE:GTY) by 7.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 443,409 shares of the real estate investment trust’s stock after selling 36,005 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.77% of Getty Realty worth $11,897,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new position in shares of Getty Realty during the first quarter valued at $31,000. EverSource Wealth Advisors LLC lifted its position in Getty Realty by 3,996.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,188 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,159 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Getty Realty by 288.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,364 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 1,013 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in Getty Realty during the 2nd quarter valued at about $38,000. Finally, GAMMA Investing LLC grew its position in Getty Realty by 56.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,317 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 837 shares during the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Getty Realty in a report on Thursday, January 22nd. Royal Bank Of Canada lifted their target price on Getty Realty from $30.00 to $33.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.60.

Getty Realty Price Performance

NYSE GTY opened at $33.13 on Friday. Getty Realty Corporation has a 12 month low of $25.39 and a 12 month high of $34.02. The firm has a market capitalization of $1.98 billion, a PE ratio of 24.72, a P/E/G ratio of 2.48 and a beta of 0.82. The company’s 50 day simple moving average is $30.35 and its 200 day simple moving average is $28.68. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.20 and a quick ratio of 2.20.

Getty Realty (NYSE:GTY) last released its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Getty Realty had a return on equity of 7.86% and a net margin of 35.72%.The firm had revenue of $60.55 million during the quarter, compared to the consensus estimate of $55.94 million. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, equities research analysts forecast that Getty Realty Corporation will post 2.29 EPS for the current fiscal year.

Getty Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 26th will be given a $0.485 dividend. The ex-dividend date is Thursday, March 26th. This represents a $1.94 annualized dividend and a yield of 5.9%. Getty Realty’s payout ratio is 144.78%.

Getty Realty Profile

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company’s portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.