Massachusetts Financial Services Co. MA Has $58.58 Million Stock Holdings in Terreno Realty Co. (NYSE:TRNO)

Massachusetts Financial Services Co. MA lowered its stake in Terreno Realty Co. (NYSE:TRNO - Free Report) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 990,452 shares of the real estate investment trust's stock after selling 64,064 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.99% of Terreno Realty worth $58,575,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MML Investors Services LLC lifted its position in shares of Terreno Realty by 6.1% during the 3rd quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust's stock worth $291,000 after purchasing an additional 249 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Terreno Realty by 1.0% during the fourth quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust's stock worth $1,663,000 after buying an additional 276 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Terreno Realty by 176.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 361 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Terreno Realty by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 120,450 shares of the real estate investment trust's stock worth $8,050,000 after acquiring an additional 370 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Terreno Realty by 3.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,585 shares of the real estate investment trust's stock worth $685,000 after acquiring an additional 400 shares during the period.

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Terreno Realty Price Performance

Shares of TRNO traded down $2.92 on Thursday, hitting $52.91. The company's stock had a trading volume of 296,650 shares, compared to its average volume of 896,335. The company has a 50 day moving average price of $64.57 and a 200 day moving average price of $62.85. Terreno Realty Co. has a fifty-two week low of $48.18 and a fifty-two week high of $71.63. The company has a market capitalization of $5.45 billion, a PE ratio of 27.60, a PEG ratio of 2.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23.

Terreno Realty (NYSE:TRNO - Get Free Report) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating 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 anticipate that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.70%. Terreno Realty's payout ratio is 102.08%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $72.00 price objective on shares of Terreno Realty in a research report on Monday, February 10th. Barclays cut their price target on Terreno Realty from $60.00 to $57.00 and set an "equal weight" rating for the company in a report on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft started coverage on Terreno Realty in a report on Tuesday, January 14th. They set a "hold" rating and a $60.00 price objective on the stock. Piper Sandler cut Terreno Realty from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $78.00 to $61.00 in a research report on Monday. Finally, The Goldman Sachs Group raised shares of Terreno Realty from a "neutral" rating to a "buy" rating and boosted their price target for the company from $65.00 to $77.00 in a report on Friday, February 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Terreno Realty presently has an average rating of "Hold" and an average price target of $66.55.

About Terreno Realty

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.