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

Cornercap Investment Counsel Inc. lessened its position in Getty Realty Corp. (NYSE:GTY) by 47.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,276 shares of the real estate investment trust’s stock after selling 11,151 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Getty Realty were worth $390,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Getty Realty by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 7,768,393 shares of the real estate investment trust’s stock worth $212,466,000 after buying an additional 252,254 shares during the period. Bank of New York Mellon Corp boosted its holdings in Getty Realty by 9.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 601,341 shares of the real estate investment trust’s stock valued at $16,032,000 after purchasing an additional 53,906 shares during the period. AQR Capital Management LLC boosted its holdings in Getty Realty by 101.3% in the 2nd quarter. AQR Capital Management LLC now owns 93,900 shares of the real estate investment trust’s stock valued at $2,503,000 after purchasing an additional 47,248 shares during the period. Marshall Wace LLP bought a new stake in Getty Realty in the 2nd quarter valued at about $1,251,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Getty Realty in the 2nd quarter valued at about $958,000. Institutional investors own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

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

Getty Realty Price Performance

Shares of NYSE:GTY opened at $31.53 on Friday. The firm has a 50 day moving average of $31.74 and a 200-day moving average of $29.83. The stock has a market capitalization of $1.73 billion, a PE ratio of 26.95 and a beta of 0.91. Getty Realty Corp. has a 12 month low of $25.70 and a 12 month high of $33.23. 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 data on Wednesday, October 23rd. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.28). The company had revenue of $51.47 million for the quarter, compared to analyst estimates of $49.79 million. Getty Realty had a return on equity of 6.84% and a net margin of 32.97%. During the same quarter in the prior year, the company earned $0.57 earnings per share. On average, equities research analysts predict that Getty Realty Corp. will post 2.22 EPS for the current fiscal year.

Getty Realty Increases Dividend

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

About Getty Realty