Legal & General Group Plc boosted its holdings in Terreno Realty Co. (NYSE:TRNO - Free Report) by 14.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 953,775 shares of the real estate investment trust's stock after purchasing an additional 119,865 shares during the quarter. Legal & General Group Plc owned approximately 0.96% of Terreno Realty worth $56,406,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Terreno Realty by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust's stock valued at $902,293,000 after acquiring an additional 1,484,301 shares in the last quarter. Norges Bank purchased a new position in shares of Terreno Realty during the fourth quarter valued at about $58,818,000. FMR LLC lifted its position in shares of Terreno Realty by 5.9% in the fourth quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust's stock worth $663,987,000 after buying an additional 628,116 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Terreno Realty by 280.3% in the fourth quarter. Russell Investments Group Ltd. now owns 520,187 shares of the real estate investment trust's stock worth $30,764,000 after buying an additional 383,400 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Terreno Realty by 58.3% during the fourth quarter. Bank of New York Mellon Corp now owns 948,090 shares of the real estate investment trust's stock valued at $56,070,000 after buying an additional 349,060 shares during the last quarter.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on TRNO shares. The Goldman Sachs Group raised Terreno Realty from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $65.00 to $77.00 in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $60.00 price objective for the company. Barclays lowered their price target on shares of Terreno Realty from $60.00 to $57.00 and set an "equal weight" rating for the company in a report on Tuesday, March 25th. BMO Capital Markets upped their price objective on Terreno Realty from $71.00 to $73.00 and gave the company a "market perform" rating in a research report on Wednesday, February 12th. Finally, Scotiabank lowered their price objective on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating for the company in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $66.45.
Check Out Our Latest Stock Report on TRNO
Terreno Realty Stock Up 0.4 %
Shares of Terreno Realty stock traded up $0.21 during trading on Tuesday, hitting $55.90. 1,149,858 shares of the stock traded hands, compared to its average volume of 899,935. 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 Co. has a 52-week low of $48.18 and a 52-week high of $71.63. The stock's fifty day simple moving average is $63.90 and its 200 day simple moving average is $62.54. The firm has a market cap of $5.76 billion, a P/E ratio of 29.12, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00.
Terreno Realty (NYSE:TRNO - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. On average, equities analysts predict that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.
Terreno Realty Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Thursday, March 27th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Thursday, March 27th. Terreno Realty's payout ratio is currently 102.08%.
About Terreno Realty
(
Free Report)
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.
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