Lazard Asset Management LLC Takes Position in Getty Realty Corporation $GTY

Lazard Asset Management LLC bought a new position in Getty Realty Corporation (NYSE:GTY) during the first quarter, according to its most recent filing with the SEC. The firm bought 21,593 shares of the real estate investment trust’s stock, valued at approximately $687,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Alliance LLC bought a new stake in Getty Realty during the 1st quarter valued at $207,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Getty Realty by 5.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 49,708 shares of the real estate investment trust’s stock valued at $1,581,000 after buying an additional 2,708 shares in the last quarter. Inceptionr LLC acquired a new position in shares of Getty Realty during the first quarter valued at about $430,000. Cetera Investment Advisers grew its holdings in shares of Getty Realty by 44.8% during the first quarter. Cetera Investment Advisers now owns 26,979 shares of the real estate investment trust’s stock valued at $858,000 after buying an additional 8,352 shares during the last quarter. Finally, NewEdge Wealth LLC bought a new stake in shares of Getty Realty during the first quarter worth about $221,000. Institutional investors own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GTY shares. Weiss Ratings upgraded shares of Getty Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. KeyCorp boosted their price objective on Getty Realty from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Huntington began coverage on Getty Realty in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $37.00 price objective for the company. Citizens Jmp raised their target price on Getty Realty from $35.00 to $39.00 and gave the company a “market outperform” rating in a report on Thursday, July 23rd. Finally, Citigroup reaffirmed an “outperform” rating on shares of Getty Realty in a research report on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.29.

Getty Realty Stock Down 0.8%

Getty Realty stock opened at $33.26 on Friday. Getty Realty Corporation has a fifty-two week low of $25.39 and a fifty-two week high of $36.83. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.26 and a current ratio of 2.26. The firm’s 50-day simple moving average is $33.90 and its 200 day simple moving average is $32.94. The stock has a market cap of $2.06 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.99 and a beta of 0.72.

Getty Realty (NYSE:GTY) last posted its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). Getty Realty had a net margin of 42.74% and a return on equity of 9.27%. The firm had revenue of $59.05 million during the quarter, compared to analysts’ expectations of $58.45 million. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Getty Realty has set its FY 2026 guidance at 2.520-2.540 EPS. Research analysts predict that Getty Realty Corporation will post 2.42 EPS for the current fiscal year.

Getty Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 24th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Thursday, September 24th. Getty Realty’s dividend payout ratio (DPR) is 118.29%.

Getty Realty Company Profile

Getty Realty Corp is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and leasing of service station and convenience retail properties. The company’s portfolio consists primarily of fee-simple and ground-leased sites, which are leased to major national and regional fuel and convenience store operators under long-term, triple-net leases. This structure provides Getty Realty with a stable stream of contractual rental income and limited operational responsibilities.

Founded in 1981, Getty Realty became a publicly listed company in 2005 and trades on the New York Stock Exchange under the ticker symbol GTY.