994,560 Shares in Terreno Realty Co. (NYSE:TRNO) Bought by Norges Bank

Norges Bank bought a new stake in Terreno Realty Co. (NYSE:TRNO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 994,560 shares of the real estate investment trust's stock, valued at approximately $58,818,000. Norges Bank owned 1.00% of Terreno Realty as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of 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 worth $902,293,000 after buying an additional 1,484,301 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Terreno Realty by 58.3% in 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 purchasing an additional 349,060 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Terreno Realty in the 4th quarter valued at about $19,792,000. Congress Asset Management Co. raised its position in shares of Terreno Realty by 72.0% during the fourth quarter. Congress Asset Management Co. now owns 449,093 shares of the real estate investment trust's stock worth $26,559,000 after purchasing an additional 188,060 shares during the period. Finally, Rhumbline Advisers raised its holdings in Terreno Realty by 70.5% during the fourth quarter. Rhumbline Advisers now owns 342,345 shares of the real estate investment trust's stock worth $20,246,000 after buying an additional 141,612 shares during the last quarter.

Terreno Realty Stock Down 4.6 %

Shares of TRNO traded down $2.43 during mid-day trading on Tuesday, reaching $50.97. The company had a trading volume of 1,619,007 shares, compared to its average volume of 892,058. Terreno Realty Co. has a 52 week low of $50.44 and a 52 week high of $71.63. 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 company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00. The firm has a 50-day moving average price of $64.96 and a 200 day moving average price of $62.99.

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Terreno Realty (NYSE:TRNO - Get Free Report) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS 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%. On average, sell-side analysts forecast that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

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. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 3.85%. Terreno Realty's dividend payout ratio (DPR) is 102.08%.

Wall Street Analysts Forecast Growth

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

Terreno Realty Company 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.