Cornercap Investment Counsel Inc. Sells 11,151 Shares of Getty Realty Corp. (NYSE:GTY)

Cornercap Investment Counsel Inc. cut its position in shares of Getty Realty Corp. (NYSE:GTY) by 47.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,276 shares of the real estate investment trust’s stock after selling 11,151 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Getty Realty were worth $390,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Getty Realty during the second quarter worth $29,000. Point72 Hong Kong Ltd acquired a new stake in shares of Getty Realty during the second quarter worth $30,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Getty Realty by 34.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,990 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 513 shares during the period. KBC Group NV increased its position in shares of Getty Realty by 45.8% during the third quarter. KBC Group NV now owns 2,175 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 683 shares during the period. Finally, Huntington National Bank increased its position in shares of Getty Realty by 21.6% during the third quarter. Huntington National Bank now owns 2,484 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 441 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Getty Realty Stock Up 0.7 %

Getty Realty stock opened at $31.53 on Friday. Getty Realty Corp. has a 1-year low of $25.70 and a 1-year high of $33.23. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 26.95 and a beta of 0.91. The firm’s fifty day moving average price is $31.74 and its two-hundred day moving average price is $29.83. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.87.

Getty Realty (NYSE:GTY) last released its quarterly 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 net margin of 32.97% and a return on equity of 6.84%. The firm had revenue of $51.47 million for the quarter, compared to the consensus estimate of $49.79 million. During the same period in the previous year, the business earned $0.57 earnings per share. On average, equities research analysts predict that Getty Realty Corp. will post 2.22 earnings per share for the current fiscal year.

Getty Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 26th will be given a dividend of $0.47 per share. This is a positive change from Getty Realty’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date is Thursday, December 26th. Getty Realty’s dividend payout ratio (DPR) is presently 153.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GTY shares. JPMorgan Chase & Co. raised their price target on shares of Getty Realty from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. JMP Securities raised their price target on shares of Getty Realty from $31.50 to $33.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. Finally, Bank of America upgraded shares of Getty Realty from a “neutral” rating to a “buy” rating and raised their price target for the stock from $31.00 to $34.00 in a report on Monday, October 21st.

Getty Realty Company Profile