Y Intercept Hong Kong Ltd Increases Stake in Getty Realty Corp. (NYSE:GTY)

Y Intercept Hong Kong Ltd raised its holdings in shares of Getty Realty Corp. (NYSE:GTY) by 20.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,259 shares of the real estate investment trust’s stock after buying an additional 5,207 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Getty Realty were worth $963,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp increased its holdings in Getty Realty by 4.6% during the third quarter. State Street Corp now owns 3,920,520 shares of the real estate investment trust’s stock valued at $126,411,000 after buying an additional 172,631 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Getty Realty by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 777,330 shares of the real estate investment trust’s stock worth $24,727,000 after purchasing an additional 11,742 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Getty Realty by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 740,116 shares of the real estate investment trust’s stock worth $19,731,000 after purchasing an additional 28,575 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Getty Realty by 38.1% in the third quarter. Natixis Advisors LLC now owns 603,023 shares of the real estate investment trust’s stock worth $19,182,000 after purchasing an additional 166,345 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Getty Realty by 9.8% in the second quarter. Bank of New York Mellon Corp now owns 601,341 shares of the real estate investment trust’s stock worth $16,032,000 after purchasing an additional 53,906 shares in the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Getty Realty Price Performance

Shares of NYSE:GTY opened at $32.20 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a fifty day moving average price of $31.99 and a 200 day moving average price of $30.44. Getty Realty Corp. has a fifty-two week low of $25.70 and a fifty-two week high of $33.85. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 27.52 and a beta of 0.92.

Getty Realty (NYSE:GTY) last issued its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.28). Getty Realty had a return on equity of 6.84% and a net margin of 32.97%. The company had revenue of $51.47 million for the quarter, compared to the consensus estimate of $49.79 million. During the same quarter in the prior year, the company posted $0.57 EPS. As a group, sell-side analysts expect that Getty Realty Corp. will post 2.23 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 26th will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, December 26th. This represents a $1.88 annualized dividend and a yield of 5.84%. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45. Getty Realty’s dividend payout ratio (DPR) is 160.68%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Bank of America raised shares of Getty Realty from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $31.00 to $34.00 in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their price objective on shares of Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th.

Getty Realty Profile