Geode Capital Management LLC Acquires 19,900 Shares of Terreno Realty Co. (NYSE:TRNO)

Geode Capital Management LLC boosted its position in Terreno Realty Co. (NYSE:TRNO - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,434,904 shares of the real estate investment trust's stock after acquiring an additional 19,900 shares during the quarter. Geode Capital Management LLC owned 2.44% of Terreno Realty worth $144,031,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Terreno Realty by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust's stock worth $902,293,000 after acquiring an additional 1,484,301 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Terreno Realty by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,503 shares of the real estate investment trust's stock worth $108,729,000 after purchasing an additional 110,610 shares during the period. Thrivent Financial for Lutherans lifted its stake in Terreno Realty by 1.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,288,168 shares of the real estate investment trust's stock worth $76,183,000 after purchasing an additional 14,995 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Terreno Realty by 2.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,264,657 shares of the real estate investment trust's stock valued at $74,792,000 after buying an additional 35,034 shares during the period. Finally, Copeland Capital Management LLC increased its holdings in shares of Terreno Realty by 7.1% in the fourth quarter. Copeland Capital Management LLC now owns 1,209,144 shares of the real estate investment trust's stock worth $71,509,000 after buying an additional 79,701 shares during the period.

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Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TRNO. Scotiabank dropped their target price on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating for the company in a report on Monday, April 7th. JMP Securities reaffirmed a "market outperform" rating and issued a $72.00 price target on shares of Terreno Realty in a research note on Monday, February 10th. Barclays reduced their price objective on shares of Terreno Realty from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 25th. BMO Capital Markets raised their target price on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 12th. Finally, Piper Sandler lowered shares of Terreno Realty from an "overweight" rating to a "neutral" rating and cut their target price for the company from $78.00 to $61.00 in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $66.55.

Terreno Realty Trading Up 1.1 %

TRNO stock traded up $0.60 during midday trading on Friday, reaching $54.56. 1,145,273 shares of the company traded hands, compared to its average volume of 897,974. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. The business has a 50 day moving average of $64.12 and a 200-day moving average of $62.66. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 2.82 and a beta of 1.00. Terreno Realty Co. has a 52-week low of $48.18 and a 52-week high of $71.63.

Terreno Realty (NYSE:TRNO - Get Free Report) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. As a group, sell-side analysts expect that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 27th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.96 annualized dividend and a yield of 3.59%. Terreno Realty's payout ratio is currently 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.