American International Group Inc. grew its stake in shares of Getty Realty Corp. (NYSE:GTY) by 11.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,842 shares of the real estate investment trust’s stock after acquiring an additional 2,615 shares during the period. American International Group Inc.’s holdings in Getty Realty were worth $675,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Getty Realty by 5.5% during the fourth quarter. BlackRock Inc. now owns 4,955,781 shares of the real estate investment trust’s stock valued at $134,597,000 after buying an additional 257,553 shares during the period. State Street Corp increased its position in shares of Getty Realty by 5.3% during the second quarter. State Street Corp now owns 781,361 shares of the real estate investment trust’s stock valued at $19,613,000 after buying an additional 39,522 shares during the period. Bank of New York Mellon Corp increased its position in shares of Getty Realty by 7.5% during the third quarter. Bank of New York Mellon Corp now owns 725,249 shares of the real estate investment trust’s stock valued at $20,749,000 after buying an additional 50,896 shares during the period. JPMorgan Chase & Co. increased its position in shares of Getty Realty by 89.7% during the third quarter. JPMorgan Chase & Co. now owns 608,510 shares of the real estate investment trust’s stock valued at $17,525,000 after buying an additional 287,813 shares during the period. Finally, Ingalls & Snyder LLC bought a new stake in shares of Getty Realty during the fourth quarter valued at about $13,761,000. Hedge funds and other institutional investors own 64.31% of the company’s stock.
Getty Realty Corp. (NYSE GTY) opened at $24.89 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market cap of $989.18, a P/E ratio of 21.46, a P/E/G ratio of 6.03 and a beta of 0.55. Getty Realty Corp. has a 52-week low of $22.68 and a 52-week high of $29.89.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Thursday, March 22nd will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 5.14%. The ex-dividend date is Wednesday, March 21st. Getty Realty’s dividend payout ratio (DPR) is 110.34%.
Several brokerages have recently weighed in on GTY. Zacks Investment Research upgraded Getty Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, November 28th. ValuEngine upgraded Getty Realty from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, KeyCorp began coverage on Getty Realty in a research report on Tuesday, December 12th. They set a “sector weight” rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.75.
Getty Realty Company Profile
Getty Realty Corp. is a real estate investment trust (REIT). The Company specializes in the ownership, leasing and financing of convenience store and gasoline station properties. As of June 30, 2017, the Company’s 825 properties were located in 26 states across the United States and Washington, District of Columbia.
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