Envestnet Asset Management Inc. Sells 34,619 Shares of Getty Realty Corporation $GTY

Envestnet Asset Management Inc. reduced its stake in shares of Getty Realty Corporation (NYSE:GTY) by 11.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 257,482 shares of the real estate investment trust’s stock after selling 34,619 shares during the period. Envestnet Asset Management Inc.’s holdings in Getty Realty were worth $6,908,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its position in Getty Realty by 7.2% during the second quarter. Ameritas Investment Partners Inc. now owns 5,300 shares of the real estate investment trust’s stock worth $146,000 after purchasing an additional 356 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Getty Realty by 1.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 37,714 shares of the real estate investment trust’s stock worth $1,012,000 after acquiring an additional 450 shares in the last quarter. Amalgamated Bank boosted its position in shares of Getty Realty by 3.5% during the 3rd quarter. Amalgamated Bank now owns 15,015 shares of the real estate investment trust’s stock worth $403,000 after acquiring an additional 503 shares in the last quarter. Marathon Capital Management increased its stake in Getty Realty by 3.5% in the second quarter. Marathon Capital Management now owns 15,590 shares of the real estate investment trust’s stock valued at $431,000 after acquiring an additional 525 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Getty Realty by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 25,441 shares of the real estate investment trust’s stock valued at $703,000 after purchasing an additional 548 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Getty Realty Trading Down 0.0%

NYSE GTY opened at $31.80 on Friday. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 2.38 and a beta of 0.84. Getty Realty Corporation has a twelve month low of $25.39 and a twelve month high of $34.02. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.93. The business’s fifty day moving average is $29.52 and its 200 day moving average is $28.39.

Getty Realty (NYSE:GTY) last posted its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.63 EPS for the quarter, beating the consensus estimate 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. Getty Realty’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, sell-side analysts expect that Getty Realty Corporation will post 2.29 EPS for the current fiscal year.

Getty Realty Announces Dividend

The firm also recently announced 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 is Thursday, March 26th. This represents a $1.94 annualized dividend and a yield of 6.1%. Getty Realty’s dividend payout ratio (DPR) is currently 144.78%.

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.