Getty Realty Corp: Comerica Bank Decreases Position in Fourth Quarter
In the latest disclosure with the Securities & Exchange Commission, Comerica Bank has decreased its position in shares of Getty Realty Corp. by 22.0% during the fourth quarter. The fund owned 25,389 shares of the real estate investment trust’s stock after selling 7,142 shares during the quarter.
With this decrease in position, Comerica Bank now owns only 0.05% of Getty Realty worth $891,000 as of its most recent filing with the Securities & Exchange Commission. Getty Realty operates as a real estate investment trust that engages in the acquisition, owning, selling and leasing of convenience store and gas service station properties under well-known brands such as BP, Citgo and Exxon.
Despite this news, Getty Realty opened at $33.80 on Monday with a market capitalization of $1.58 billion and a PE ratio of 18.07, reflecting solid fundamentals despite market turbulence seen recently.
Moreover, Getty Realty had a beta of 0.89 indicating lower volatility compared to other stocks in the market which is generally considered as an attractive feature for investors who are looking for assets that produce stable returns over time.
The company’s 50-day simple moving average is $34.68 while its two-hundred day simple moving average is $33.53 – both numbers point towards a positive trend and are indicative of strong performance even amidst economic uncertainty.
Getty Realty also maintains current ratio and a quick ratio above the industry average at 2.23 while maintaining manageable debt-to-equity levels at 0.91 – making it an attractive proposition for long-term investors looking for solid fundamentals from their investments.
In conclusion, Comerica Bank may have decreased its position in shares of Getty Realty Corp however, their fundamentals continue to be strong with consistent growth trajectory further reaffirming our belief that they remain poised for continued growth in the foreseeable future.
Getty Realty Corp.: Capitalizing on Growing Industry with Positive Earnings and Institutional Investor Interest
Getty Realty Corp. is a real estate investment trust (REIT) that specializes in the ownership and leasing of gas stations and convenience stores across the United States, offering investors an opportunity to capitalize on a growing industry. The company recently reported positive quarterly earnings, exceeding the consensus estimate with $0.57 EPS for the quarter, and provided a projected year-end EPS of 2.11.
In addition to strong revenue, Getty Realty has also gained interest from institutional investors who have made significant changes to their positions within the company over the past few months. Bank of New York Mellon Corp, HighTower Advisors LLC, MetLife Investment Management LLC, Rhumbline Advisers, and Commonwealth of Pennsylvania Public School Empls Retrmt SYS have all increased their holdings in Getty Realty by varying percentages during Q1 of 2021.
While some equities research analysts have issued reports on Getty Realty with a neutral rating due to recent fluctuations in the market, others have provided favorable outlooks based on its performance and future growth potential. JMP Securities raised their target price from $37.00 to $39.00 and rated Getty Realty’s stock as “market outperform.”
Getty Realty’s portfolio includes recognizable brand names such as BP, ExxonMobil, Sunoco and Chevron among others. As of this writing, hedge funds and other institutional investors own over 74% of the company’s stock.
Investors looking for an opportunity to enter into a growing industry may find Getty Realty appealing given its proven track record in quarterly earnings on top of positive support from institutional investors entering new positions or increasing current ones within the company. It is up to individual investors to perform their own research before making any investing decisions but Getty should be considered as an asset that is bullish towards garnering increasing returns for shareholders in the long-term based on robust fundamentals.
Finally, it should be noted that Getty Realty announced a quarterly dividend payment released on April 6th, which represents a dividend yield of over 5%.