Ingalls & Snyder LLC Sells 14,853 Shares of Getty Realty Corporation $GTY

Ingalls & Snyder LLC lessened its stake in shares of Getty Realty Corporation (NYSE:GTY) by 8.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 160,621 shares of the real estate investment trust’s stock after selling 14,853 shares during the quarter. Ingalls & Snyder LLC’s holdings in Getty Realty were worth $4,309,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of GTY. Ameritas Investment Partners Inc. raised its holdings in Getty Realty by 7.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,300 shares of the real estate investment trust’s stock valued at $146,000 after acquiring an additional 356 shares during the period. Teacher Retirement System of Texas grew its position in shares of Getty Realty by 1.2% in the third quarter. Teacher Retirement System of Texas now owns 37,714 shares of the real estate investment trust’s stock valued at $1,012,000 after purchasing an additional 450 shares during the last quarter. Amalgamated Bank grew its position in shares of Getty Realty by 3.5% in the third quarter. Amalgamated Bank now owns 15,015 shares of the real estate investment trust’s stock valued at $403,000 after purchasing an additional 503 shares during the last quarter. Marathon Capital Management increased its stake in shares of Getty Realty by 3.5% during the second quarter. Marathon Capital Management now owns 15,590 shares of the real estate investment trust’s stock worth $431,000 after purchasing an additional 525 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Getty Realty by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,441 shares of the real estate investment trust’s stock worth $703,000 after purchasing an additional 548 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

Getty Realty Trading Up 1.9%

Shares of NYSE:GTY opened at $33.86 on Wednesday. The business’s 50 day simple moving average is $29.33 and its 200 day simple moving average is $28.32. Getty Realty Corporation has a 1 year low of $25.39 and a 1 year high of $34.02. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.20 and a quick ratio of 2.20. The company has a market capitalization of $2.03 billion, a P/E ratio of 25.27, a P/E/G ratio of 3.08 and a beta of 0.84.

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

Getty Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 26th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $1.94 annualized dividend and a yield of 5.7%. Getty Realty’s dividend payout ratio is currently 144.78%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GTY. Weiss Ratings restated a “hold (c)” rating on shares of Getty Realty in a research note on Thursday, January 22nd. Royal Bank Of Canada boosted their target price on shares of Getty Realty from $30.00 to $33.00 and gave the company a “sector perform” rating in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.60.

Getty Realty Company 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.