California Public Employees Retirement System grew its position in shares of Terreno Realty Co. (NYSE:TRNO – Get Rating) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 160,784 shares of the real estate investment trust’s stock after purchasing an additional 1,012 shares during the quarter. California Public Employees Retirement System owned approximately 0.21% of Terreno Realty worth $11,906,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Truist Financial Corp boosted its stake in shares of Terreno Realty by 6.5% during the first quarter. Truist Financial Corp now owns 10,666 shares of the real estate investment trust’s stock valued at $790,000 after purchasing an additional 649 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Terreno Realty by 3.9% in the fourth quarter. Rhumbline Advisers now owns 117,369 shares of the real estate investment trust’s stock worth $10,010,000 after acquiring an additional 4,456 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Terreno Realty in the fourth quarter worth approximately $6,116,000. Natixis Advisors L.P. lifted its stake in shares of Terreno Realty by 28.3% in the fourth quarter. Natixis Advisors L.P. now owns 55,948 shares of the real estate investment trust’s stock worth $4,772,000 after acquiring an additional 12,328 shares during the period. Finally, Congress Asset Management Co. MA lifted its stake in shares of Terreno Realty by 54.8% in the first quarter. Congress Asset Management Co. MA now owns 80,594 shares of the real estate investment trust’s stock worth $5,968,000 after acquiring an additional 28,519 shares during the period.
Insiders Place Their Bets
In other Terreno Realty news, CEO W Blake Baird acquired 1,000 shares of the business’s stock in a transaction on Monday, May 9th. The shares were acquired at an average price of $64.00 per share, with a total value of $64,000.00. Following the completion of the transaction, the chief executive officer now owns 588,376 shares in the company, valued at $37,656,064. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.40% of the company’s stock.
Terreno Realty Trading Up 1.6 %
Shares of Terreno Realty stock opened at $62.89 on Friday. The stock has a fifty day simple moving average of $58.55 and a 200 day simple moving average of $66.44. Terreno Realty Co. has a 12-month low of $54.51 and a 12-month high of $86.00. The company has a market capitalization of $4.75 billion, a P/E ratio of 50.31 and a beta of 0.75. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.36.
Terreno Realty (NYSE:TRNO – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.20). Terreno Realty had a return on equity of 4.79% and a net margin of 38.50%. The business had revenue of $64.04 million during the quarter, compared to analysts’ expectations of $62.16 million. On average, sell-side analysts anticipate that Terreno Realty Co. will post 1.92 earnings per share for the current fiscal year.
Terreno Realty Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.40 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.60 annualized dividend and a yield of 2.54%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.34. Terreno Realty’s payout ratio is currently 108.80%.
Analyst Upgrades and Downgrades
TRNO has been the topic of a number of recent analyst reports. Mizuho cut their price objective on Terreno Realty from $76.00 to $64.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Jefferies Financial Group lowered their target price on Terreno Realty from $88.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, June 30th. KeyCorp lowered their target price on Terreno Realty from $86.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, June 28th. The Goldman Sachs Group lowered their target price on Terreno Realty from $79.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, June 16th. Finally, Piper Sandler lowered their target price on Terreno Realty to $73.00 in a report on Monday, July 4th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Terreno Realty has a consensus rating of “Moderate Buy” and a consensus price target of $74.33.
Terreno Realty Company Profile
Terreno Realty Corporation and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these condensed notes to the consolidated financial statements are unaudited.
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