California Public Employees Retirement System Sells 15,025 Shares of Terreno Realty Co. (NYSE:TRNO)

California Public Employees Retirement System decreased its position in shares of Terreno Realty Co. (NYSE:TRNO - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,535 shares of the real estate investment trust's stock after selling 15,025 shares during the period. California Public Employees Retirement System owned 0.14% of Terreno Realty worth $8,311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TRNO. Stifel Financial Corp lifted its position in Terreno Realty by 39.3% in the third quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust's stock worth $6,156,000 after purchasing an additional 25,988 shares during the period. Barclays PLC boosted its position in shares of Terreno Realty by 131.0% during the 3rd quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust's stock valued at $11,360,000 after acquiring an additional 96,380 shares in the last quarter. Geode Capital Management LLC increased its stake in Terreno Realty by 0.4% in the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust's stock valued at $161,423,000 after acquiring an additional 8,940 shares during the period. Verition Fund Management LLC acquired a new position in Terreno Realty in the third quarter worth about $225,000. Finally, HighTower Advisors LLC acquired a new stake in Terreno Realty during the third quarter valued at approximately $255,000.

Analyst Ratings Changes

A number of research firms have recently issued reports on TRNO. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $60.00 target price for the company. JMP Securities restated a "market outperform" rating and issued a $72.00 price objective on shares of Terreno Realty in a report on Monday, February 10th. The Goldman Sachs Group upgraded Terreno Realty from a "neutral" rating to a "buy" rating and upped their price objective for the company from $65.00 to $77.00 in a report on Friday, February 21st. Barclays lowered their target price on shares of Terreno Realty from $60.00 to $57.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 25th. Finally, Piper Sandler downgraded shares of Terreno Realty from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $78.00 to $61.00 in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $66.55.

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Terreno Realty Stock Performance

Shares of NYSE:TRNO traded up $0.60 on Friday, reaching $54.56. 1,145,273 shares of the company's stock were exchanged, compared to its average volume of 897,974. Terreno Realty Co. has a twelve month low of $48.18 and a twelve month high of $71.63. The company has a fifty day moving average of $64.12 and a 200-day moving average of $62.66. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 2.82 and a beta of 1.00. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. On average, research analysts predict that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Thursday, March 27th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Thursday, March 27th. Terreno Realty's dividend payout ratio (DPR) is presently 102.08%.

Terreno Realty Profile

Terreno Realty Corporation (Terreno, 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 notes to the consolidated financial statements are unaudited.