Published on September 19, 2023, Harbor Capital Advisors Inc., a prominent institutional investor, has recently acquired a new position in Getty Realty Corp. (NYSE:GTY). Disclosure documents submitted to the Securities and Exchange Commission (SEC) reveal that Harbor Capital Advisors purchased approximately 24,888 shares of Getty Realty’s stock during the second quarter. The total value of this investment is estimated at $842,000. As of its latest SEC filing, Harbor Capital Advisors Inc. owned 0.05% of Getty Realty.
Getty Realty Corp., a real estate investment trust listed on the New York Stock Exchange under the ticker symbol GTY, recently released its earnings results for the quarter ending on July 26th. According to these reports, Getty Realty incurred earnings per share of $0.26 for the period. However, this figure fell short of analysts’ consensus estimates by ($0.30) or 35%.
The company’s net margin for the quarter was reported at an impressive 39.48%, while their return on equity stood at 8.51%. In terms of revenue, they generated $43.66 million during the period in question – slightly surpassing the consensus estimate of $43.09 million.
Analysts who track Getty Realty have projected that the company will post earnings per share (EPS) of $2.26 for the current fiscal year.
As investors and market observers await further updates from Getty Realty Corp., it remains to be seen how these recent developments will impact their stock performance moving forward.
For more in-depth information and analysis regarding Getty Realty Corp., interested parties are encouraged to refer to our comprehensive Stock Report on this topic, containing detailed insights into various aspects of the company’s operations and financial performance.
Please note that all data provided is accurate as of September 19th, 2023- ensuring that readers have access to up-to-date information on this subject matter
Updated on: 28/09/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
1:00 PM (UTC)
Date:28 September, 2023
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Positive Outlook for Getty Realty: Hedge Funds and Institutional Investors Increase Stakes
In recent months, several hedge funds and institutional investors have been making changes to their stakes in Getty Realty, a real estate investment trust. Raymond James Financial Services Advisors Inc., for example, has increased its stake in the company by 1.7% during the fourth quarter. Arizona State Retirement System also grew its stake by 2.7% in the first quarter.
These adjustments reflect the confidence that these investors have in Getty Realty’s performance and potential for growth. The fact that these established financial firms are adding to their investments indicates a positive outlook for the company.
Furthermore, LPL Financial LLC boosted its position by 4.1% during the fourth quarter, while Maryland State Retirement & Pension System increased its stake by 2.5% in the second quarter. Chilton Capital Management LLC also increased its position by 3.1% during this same period.
Overall, it appears that these hedge funds and institutional investors believe in Getty Realty’s ability to generate returns and deliver value to shareholders. These substantial investments demonstrate a strong belief in the future prospects of the company.
As of September 19, 2023, GTY stock opened at $29.76, with a fifty-two week low of $25.49 and a fifty-two week high of $36.49. The business’s moving averages indicate stability, with a 50-day moving average of $31.32 and a two-hundred-day moving average of $33.21.
The company currently has a market capitalization of $1.50 billion and a price-to-earnings ratio of 21.57, suggesting reasonable valuation based on current earnings levels. The debt-to-equity ratio stands at 0.78, indicating a moderate level of leverage.
Getty Realty also recently announced that it will pay out a quarterly dividend on Thursday, October 12th to shareholders registered as of Thursday, September 28th . Shareholders can expect a dividend of $0.43 per share, translating to an annualized dividend of $1.72 and a yield of 5.78%. It is worth noting that this payout ratio exceeds 100%, indicating that the company may be using additional funds to cover its dividends.
In terms of analyst coverage, StockNews.com initiated coverage on Getty Realty in a research report on Thursday, August 17th, giving the stock a “hold” rating. With four analysts rating the stock as a hold and one issuing a buy rating, Bloomberg.com states that there is a consensus view of “Hold” with a consensus target price of $33.40.
In conclusion, Getty Realty’s recent movements in ownership by hedge funds and institutional investors suggest confidence in the company’s potential for growth and stability. The stock’s current trading range and moving averages indicate consistent performance, while the company’s dividend payout reflects its commitment to rewarding shareholders. Although analyst ratings are mixed, with some recommending holding positions or buying at current levels, it indicates overall market sentiment towards the stock. Investors should consider these factors when making investment decisions regarding Getty Realty.