Getty Realty Corporation (NYSE:GTY) Sees Large Decrease in Short Interest

Getty Realty Corporation (NYSE:GTY) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 3,439,466 shares, a drop of 44.0% from the September 15th total of 6,147,202 shares. Based on an average trading volume of 839,977 shares, the days-to-cover ratio is presently 4.1 days. Currently, 6.0% of the shares of the stock are sold short.

Getty Realty Price Performance

GTY stock traded up $0.05 during mid-day trading on Friday, reaching $28.35. The company’s stock had a trading volume of 362,088 shares, compared to its average volume of 735,198. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average is $30.80 and its two-hundred day moving average is $32.60. Getty Realty has a fifty-two week low of $26.79 and a fifty-two week high of $36.83. The stock has a market cap of $1.76 billion, a PE ratio of 17.29, a P/E/G ratio of 2.09 and a beta of 0.72.

Getty Realty (NYSE:GTY) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $59.05 million for the quarter, compared to analyst estimates of $58.45 million. Getty Realty had a return on equity of 9.27% and a net margin of 42.74%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. Getty Realty has set its FY 2026 guidance at 2.520-2.540 EPS. Equities research analysts expect that Getty Realty will post 2.45 EPS for the current year.

Getty Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 24th were given a dividend of $0.4850 per share. The ex-dividend date was Thursday, September 24th. This represents a $1.94 dividend on an annualized basis and a yield of 6.8%. Getty Realty’s dividend payout ratio (DPR) is presently 118.29%.

Wall Street Analyst Weigh In

GTY has been the subject of several recent analyst reports. Royal Bank Of Canada boosted their price target on shares of Getty Realty from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. KeyCorp reaffirmed an “overweight” rating and set a $36.00 price objective on shares of Getty Realty in a report on Thursday, September 24th. Weiss Ratings lowered shares of Getty Realty from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 9th. Citizens Jmp reissued a “market outperform” rating and set a $39.00 target price on shares of Getty Realty in a research note on Tuesday, September 1st. Finally, Deutsche Bank Aktiengesellschaft set a $39.00 target price on shares of Getty Realty in a research note on Wednesday, September 23rd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Getty Realty presently has an average rating of “Moderate Buy” and an average price target of $36.57.

Institutional Trading of Getty Realty

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Getty Realty in the 2nd quarter worth $344,815,000. Dimensional Fund Advisors LP boosted its position in shares of Getty Realty by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 802,609 shares of the real estate investment trust’s stock valued at $25,523,000 after acquiring an additional 39,683 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Getty Realty during the 2nd quarter valued at about $25,120,000. Fidelity National Financial Inc. purchased a new stake in shares of Getty Realty in the second quarter valued at about $20,089,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Getty Realty in the third quarter valued at about $18,326,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Getty Realty Company Profile

Getty Realty Corp. (NYSE:GTY) is a real estate investment trust that owns, leases and develops properties used primarily for convenience stores, gasoline stations and automotive service businesses. The company’s portfolio also includes properties supporting car washes, quick-service restaurants and other automotive-related activities.

Getty Realty generally leases its properties to operators under long-term, often triple-net lease agreements, under which tenants are responsible for many property-level expenses such as taxes, insurance and maintenance.