Lazard Asset Management LLC Invests $687,000 in Getty Realty Corporation $GTY

Lazard Asset Management LLC acquired a new stake in Getty Realty Corporation (NYSE:GTY) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 21,593 shares of the real estate investment trust’s stock, valued at approximately $687,000.

Several other institutional investors have also recently bought and sold shares of GTY. Newbridge Financial Services Group Inc. acquired a new position in Getty Realty during the 4th quarter worth approximately $29,000. Advisors Asset Management Inc. acquired a new stake in shares of Getty Realty during the 1st quarter valued at $31,000. EverSource Wealth Advisors LLC increased its holdings 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 worth $33,000 after purchasing an additional 1,159 shares in the last quarter. Avalon Trust Co bought a new position in Getty Realty in the first quarter valued at about $38,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Getty Realty by 36.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,572 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 418 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Getty Realty from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Citigroup restated an “outperform” rating on shares of Getty Realty in a research report on Thursday, July 23rd. Huntington assumed coverage on shares of Getty Realty in a research note on Wednesday, July 15th. They set an “outperform” rating and a $37.00 price target for the company. Royal Bank Of Canada lifted their price target on shares of Getty Realty from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Finally, Citizens Jmp boosted their price objective on shares of Getty Realty from $35.00 to $39.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.29.

Getty Realty Stock Down 0.8%

Shares of NYSE:GTY opened at $33.26 on Friday. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 2.99 and a beta of 0.72. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.26 and a quick ratio of 2.26. The business’s 50-day moving average is $33.90 and its 200-day moving average is $32.94. Getty Realty Corporation has a 1 year low of $25.39 and a 1 year high of $36.83.

Getty Realty (NYSE:GTY) last posted its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Getty Realty had a return on equity of 9.27% and a net margin of 42.74%.The business had revenue of $59.05 million for the quarter, compared to the consensus estimate of $58.45 million. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Getty Realty has set its FY 2026 guidance at 2.520-2.540 EPS. Equities research analysts predict that Getty Realty Corporation will post 2.42 earnings per share for the current year.

Getty Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 24th will be issued a dividend of $0.485 per share. The ex-dividend date is Thursday, September 24th. This represents a $1.94 annualized dividend and a dividend yield of 5.8%. Getty Realty’s dividend payout ratio is currently 118.29%.

About Getty Realty

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.