Principal Financial Group Inc. Grows Stake in Getty Realty Corp. (NYSE:GTY)

Principal Financial Group Inc. raised its position in shares of Getty Realty Corp. (NYSE:GTY - Free Report) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 245,436 shares of the real estate investment trust's stock after acquiring an additional 10,455 shares during the period. Principal Financial Group Inc. owned approximately 0.45% of Getty Realty worth $7,395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in GTY. Congress Asset Management Co. boosted its stake in shares of Getty Realty by 61.5% during the fourth quarter. Congress Asset Management Co. now owns 226,096 shares of the real estate investment trust's stock valued at $6,812,000 after purchasing an additional 86,110 shares in the last quarter. Van ECK Associates Corp grew its position in Getty Realty by 12.6% during the 4th quarter. Van ECK Associates Corp now owns 9,574 shares of the real estate investment trust's stock worth $288,000 after purchasing an additional 1,072 shares during the period. Louisiana State Employees Retirement System boosted its position in Getty Realty by 1.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 24,500 shares of the real estate investment trust's stock worth $738,000 after purchasing an additional 400 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Getty Realty by 257.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 23,836 shares of the real estate investment trust's stock worth $718,000 after buying an additional 17,166 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Getty Realty by 3.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 55,238 shares of the real estate investment trust's stock worth $1,664,000 after acquiring an additional 1,788 shares during the period. Hedge funds and other institutional investors own 85.11% of the company's stock.

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Getty Realty Stock Performance

Shares of GTY traded up $0.14 during midday trading on Wednesday, reaching $31.18. 256,786 shares of the stock were exchanged, compared to its average volume of 273,791. Getty Realty Corp. has a twelve month low of $25.70 and a twelve month high of $33.85. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 24.74 and a beta of 0.91. The business's 50-day moving average price is $30.55 and its 200 day moving average price is $31.37.

Getty Realty (NYSE:GTY - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.29. Getty Realty had a return on equity of 7.43% and a net margin of 34.94%. On average, sell-side analysts expect that Getty Realty Corp. will post 2.29 EPS for the current fiscal year.

Getty Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 27th will be issued a $0.47 dividend. The ex-dividend date is Thursday, March 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.03%. Getty Realty's payout ratio is 149.21%.

Analysts Set New Price Targets

GTY has been the topic of a number of research reports. KeyCorp raised shares of Getty Realty from a "sector weight" rating to an "overweight" rating and set a $35.00 price target on the stock in a research note on Tuesday, December 17th. JMP Securities reaffirmed a "market outperform" rating and issued a $34.00 target price on shares of Getty Realty in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

About Getty Realty