BlackRock Inc. Makes New Investment in Getty Realty Corporation $GTY

BlackRock Inc. purchased a new stake in Getty Realty Corporation (NYSE:GTY) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,336,172 shares of the real estate investment trust’s stock, valued at approximately $344,815,000. BlackRock Inc. owned about 0.17% of Getty Realty at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new position in shares of Getty Realty during the 1st quarter worth about $31,000. EverSource Wealth Advisors LLC lifted its stake 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. Avalon Trust Co acquired a new stake in Getty Realty in the 1st quarter valued at about $38,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 worth $43,000 after purchasing an additional 418 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in Getty Realty during the second quarter worth approximately $43,000. Institutional investors own 85.11% of the company’s stock.

Getty Realty Stock Up 0.5%

Getty Realty stock opened at $33.56 on Wednesday. The stock has a market cap of $2.08 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.94 and a beta of 0.72. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.95. Getty Realty Corporation has a twelve month low of $25.39 and a twelve month high of $36.83. The company’s 50-day moving average price is $33.95 and its two-hundred day moving average price is $33.26.

Getty Realty (NYSE:GTY) last issued its quarterly earnings data 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 firm had revenue of $59.05 million for the quarter, compared to the consensus estimate of $58.45 million. The business’s revenue was up 10.9% compared to the same quarter last year. Getty Realty has set its FY 2026 guidance at 2.520-2.540 EPS. As a group, analysts expect that Getty Realty Corporation will post 2.45 EPS for the current year.

Getty Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 24th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Thursday, September 24th. Getty Realty’s dividend payout ratio (DPR) is presently 118.29%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GTY. KeyCorp upped their price objective on Getty Realty from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Huntington began coverage on Getty Realty in a report on Wednesday, July 15th. They set an “outperform” rating and a $37.00 target price on the stock. Citizens Jmp increased their price target on Getty Realty from $35.00 to $39.00 and gave the company a “market outperform” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada raised their price target on Getty Realty from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, July 24th. Finally, Robert W. Baird lifted their price objective on shares of Getty Realty from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Getty Realty has a consensus rating of “Moderate Buy” and a consensus price target of $35.29.

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.