ProShare Advisors LLC Sells 135,211 Shares of Getty Realty Corporation $GTY

ProShare Advisors LLC cut its holdings in Getty Realty Corporation (NYSE:GTY) by 32.3% during the 3rd quarter, Holdings Channel reports. The firm owned 282,931 shares of the real estate investment trust’s stock after selling 135,211 shares during the period. ProShare Advisors LLC’s holdings in Getty Realty were worth $7,990,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GTY. HB Wealth Management LLC increased its holdings in Getty Realty by 3.1% during the 2nd quarter. HB Wealth Management LLC now owns 10,329 shares of the real estate investment trust’s stock valued at $345,000 after purchasing an additional 314 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Getty Realty by 3.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,560 shares of the real estate investment trust’s stock worth $399,000 after buying an additional 400 shares during the period. Allworth Financial LP lifted its holdings in Getty Realty by 3.0% in the 2nd quarter. Allworth Financial LP now owns 20,308 shares of the real estate investment trust’s stock worth $677,000 after buying an additional 590 shares during the period. Arizona State Retirement System lifted its holdings in Getty Realty by 4.0% in the 2nd quarter. Arizona State Retirement System now owns 15,680 shares of the real estate investment trust’s stock worth $523,000 after buying an additional 604 shares during the period. Finally, Nissay Asset Management Corp Japan grew its position in shares of Getty Realty by 8.9% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 8,524 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 697 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GTY. Citigroup reissued a “market outperform” rating on shares of Getty Realty in a research note on Wednesday, September 23rd. Citizens Jmp restated a “market outperform” rating and set a $39.00 target price on shares of Getty Realty in a report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft set a $39.00 price target on Getty Realty in a research note on Wednesday, September 23rd. Weiss Ratings cut shares of Getty Realty from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. Finally, KeyCorp reiterated an “overweight” rating and issued a $36.00 price target on shares of Getty Realty in a report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.57.

Getty Realty Trading Up 1.6%

Shares of GTY opened at $28.84 on Thursday. Getty Realty Corporation has a 1-year low of $26.91 and a 1-year high of $36.83. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.94. The firm’s 50-day moving average price is $29.52 and its 200-day moving average price is $32.09. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.92 and a beta of 0.69.

Getty Realty (NYSE:GTY) last released its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Getty Realty had a net margin of 42.37% and a return on equity of 8.93%. The company had revenue of $62.99 million during the quarter, compared to the consensus estimate of $59.18 million. During the same period in the prior year, the firm earned $0.62 earnings per share. Getty Realty’s revenue was up 12.0% on a year-over-year basis. Sell-side analysts anticipate that Getty Realty Corporation will post 2.45 EPS for the current year.

Getty Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Thursday, December 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend is Thursday, December 24th. This is a positive change from Getty Realty’s previous quarterly dividend of $0.4850. Getty Realty’s payout ratio is presently 121.95%.

About Getty Realty

Getty Realty Corp. is a real estate investment trust that owns, leases and develops convenience store, gasoline station and automotive service properties. Its portfolio also includes properties used for car washes, truck service, automotive parts and repairs, and other retail and service businesses.

The company generally leases its properties to operators under long-term, often triple-net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance.