Principal Financial Group Inc. Sells 175,430 Shares of Terreno Realty Co. (NYSE:TRNO)

Principal Financial Group Inc. trimmed its stake in Terreno Realty Co. (NYSE:TRNO - Free Report) by 3.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,766,490 shares of the real estate investment trust's stock after selling 175,430 shares during the quarter. Principal Financial Group Inc. owned approximately 4.78% of Terreno Realty worth $281,902,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in shares of Terreno Realty during the third quarter valued at $26,000. Assetmark Inc. grew its holdings in shares of Terreno Realty by 2,381.3% during the third quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 381 shares in the last quarter. Manchester Capital Management LLC purchased a new position in shares of Terreno Realty during the fourth quarter valued at $27,000. International Assets Investment Management LLC grew its holdings in shares of Terreno Realty by 6,580.0% during the third quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust's stock valued at $67,000 after buying an additional 987 shares in the last quarter. Finally, Huntington National Bank grew its holdings in shares of Terreno Realty by 7.4% during the third quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust's stock valued at $171,000 after buying an additional 177 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TRNO. Scotiabank lowered their price target on Terreno Realty from $70.00 to $67.00 and set a "sector perform" rating on the stock in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Terreno Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $60.00 target price on the stock. The Goldman Sachs Group upgraded Terreno Realty from a "neutral" rating to a "buy" rating and boosted their target price for the company from $65.00 to $77.00 in a research note on Friday. Barclays restated an "equal weight" rating and issued a $60.00 target price (down previously from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Finally, Piper Sandler lowered their target price on Terreno Realty from $80.00 to $78.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $69.27.

Terreno Realty Stock Up 0.4 %

Shares of NYSE:TRNO traded up $0.26 on Friday, reaching $67.08. The company had a trading volume of 1,301,114 shares, compared to its average volume of 870,827. Terreno Realty Co. has a twelve month low of $53.78 and a twelve month high of $71.63. The stock has a 50-day moving average price of $62.56 and a 200 day moving average price of $64.03. The stock has a market capitalization of $6.69 billion, a P/E ratio of 34.94, a P/E/G ratio of 2.82 and a beta of 0.91. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24.

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

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be paid a dividend of $0.49 per share. The ex-dividend date is Thursday, March 27th. This represents a $1.96 annualized dividend and a yield of 2.92%. Terreno Realty's payout ratio is 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.