The Manufacturers Life Insurance Company Takes $942,000 Position in Getty Realty Corporation $GTY

The Manufacturers Life Insurance Company bought a new stake in Getty Realty Corporation (NYSE:GTY) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 28,243 shares of the real estate investment trust’s stock, valued at approximately $942,000.

Other institutional investors have also added to or reduced their stakes in the company. Amundi raised its holdings in Getty Realty by 12.7% in the 1st quarter. Amundi now owns 30,647 shares of the real estate investment trust’s stock valued at $930,000 after acquiring an additional 3,463 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Getty Realty during the 1st quarter worth approximately $31,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Getty Realty by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 306,733 shares of the real estate investment trust’s stock valued at $9,564,000 after purchasing an additional 23,370 shares during the period. Jane Street Group LLC increased its position in shares of Getty Realty by 105.8% during the first quarter. Jane Street Group LLC now owns 113,313 shares of the real estate investment trust’s stock valued at $3,533,000 after purchasing an additional 58,255 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of Getty Realty by 13.3% in the second quarter. Cetera Investment Advisers now owns 16,721 shares of the real estate investment trust’s stock valued at $462,000 after purchasing an additional 1,961 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citizens Jmp reiterated a “market outperform” rating and set a $39.00 price target on shares of Getty Realty in a research note on Tuesday, September 1st. Huntington started coverage on shares of Getty Realty in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $37.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Getty Realty in a research report on Friday, August 7th. Robert W. Baird boosted their target price on shares of Getty Realty from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada increased their target price on shares of Getty Realty from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.29.

Getty Realty Stock Down 0.6%

Shares of GTY opened at $32.46 on Friday. The company has a market capitalization of $2.01 billion, a P/E ratio of 19.79, a PEG ratio of 2.87 and a beta of 0.72. Getty Realty Corporation has a one year low of $25.39 and a one year high of $36.83. The business’s 50 day simple moving average is $33.87 and its 200-day simple moving average is $33.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.26 and a quick ratio of 2.26.

Getty Realty (NYSE:GTY) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Getty Realty had a net margin of 42.74% and a return on equity of 9.27%. The business had revenue of $59.05 million for the quarter, compared to analyst estimates of $58.45 million. The firm’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. As a group, sell-side analysts predict that Getty Realty Corporation will post 2.45 EPS for the current fiscal year.

Getty Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 24th will be paid a $0.485 dividend. The ex-dividend date is Thursday, September 24th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 6.0%. Getty Realty’s dividend payout ratio (DPR) is 118.29%.

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.