Bank of New York Mellon Corp boosted its position in shares of Getty Realty Corporation (NYSE:GTY) by 4.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 674,353 shares of the real estate investment trust’s stock after acquiring an additional 30,051 shares during the quarter. Bank of New York Mellon Corp owned about 1.94% of Getty Realty Corporation worth $16,927,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue lifted its position in Getty Realty Corporation by 78.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,330 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 2,350 shares during the period. Mason Street Advisors LLC lifted its position in Getty Realty Corporation by 9.0% during the 1st quarter. Mason Street Advisors LLC now owns 6,306 shares of the real estate investment trust’s stock worth $159,000 after acquiring an additional 521 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in Getty Realty Corporation by 6.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,368 shares of the real estate investment trust’s stock worth $160,000 after acquiring an additional 370 shares during the period. Credit Agricole S A lifted its position in Getty Realty Corporation by 59.0% during the 1st quarter. Credit Agricole S A now owns 7,428 shares of the real estate investment trust’s stock worth $188,000 after acquiring an additional 2,756 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Getty Realty Corporation during the 2nd quarter worth about $268,000. 52.09% of the stock is owned by institutional investors.

A number of brokerages have commented on GTY. Bank of America Corporation began coverage on Getty Realty Corporation in a research report on Wednesday, September 6th. They set a “buy” rating and a $30.00 price target for the company. BidaskClub raised Getty Realty Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised Getty Realty Corporation from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Thursday, June 1st. ValuEngine cut Getty Realty Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Finally, Canaccord Genuity began coverage on Getty Realty Corporation in a research report on Tuesday, July 18th. They set a “buy” rating and a $32.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $27.75.

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Shares of Getty Realty Corporation (GTY) opened at 28.51 on Wednesday. The firm’s 50-day moving average price is $27.20 and its 200-day moving average price is $25.77. Getty Realty Corporation has a 12 month low of $21.71 and a 12 month high of $29.00. The firm has a market cap of $1.12 billion, a PE ratio of 23.58 and a beta of 0.54.

Getty Realty Corporation (NYSE:GTY) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. Getty Realty Corporation had a net margin of 36.50% and a return on equity of 10.28%. The company had revenue of $24.83 million during the quarter, compared to the consensus estimate of $25.20 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Getty Realty Corporation’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts expect that Getty Realty Corporation will post $1.30 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Thursday, September 21st will be paid a $0.28 dividend. The ex-dividend date is Wednesday, September 20th. This represents a $1.12 annualized dividend and a yield of 3.93%. Getty Realty Corporation’s dividend payout ratio is presently 92.56%.

Getty Realty Corporation 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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Institutional Ownership by Quarter for Getty Realty Corporation (NYSE:GTY)

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