Prudential Financial Inc. Increases Position in Terreno Realty Co. (NYSE:TRNO)

Prudential Financial Inc. lifted its position in shares of Terreno Realty Co. (NYSE:TRNO - Free Report) by 76.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,441 shares of the real estate investment trust's stock after purchasing an additional 71,923 shares during the quarter. Prudential Financial Inc. owned about 0.17% of Terreno Realty worth $10,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Terreno Realty by 16.4% during the third quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust's stock worth $708,348,000 after acquiring an additional 1,496,666 shares in the last quarter. Vanguard Group Inc. boosted its position 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 purchasing an additional 1,484,301 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Terreno Realty by 339.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 611,128 shares of the real estate investment trust's stock worth $40,842,000 after buying an additional 472,125 shares during the last quarter. Bank of New York Mellon Corp increased its position in Terreno Realty by 58.3% during the 4th 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 in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Terreno Realty during the fourth quarter valued at $19,792,000.

Remove Ads

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TRNO shares. JMP Securities restated a "market outperform" rating and set a $72.00 price target on shares of Terreno Realty in a report on Monday, February 10th. The Goldman Sachs Group upgraded shares of Terreno Realty from a "neutral" rating to a "buy" rating and raised their price objective for the company from $65.00 to $77.00 in a research note on Friday, February 21st. BMO Capital Markets increased their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the company a "market perform" rating in a report on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of Terreno Realty from $80.00 to $78.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Finally, Scotiabank increased their target price on Terreno Realty from $64.00 to $68.00 and gave the company a "sector perform" rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Terreno Realty currently has an average rating of "Hold" and an average price target of $69.09.

Terreno Realty Stock Performance

Shares of Terreno Realty stock traded down $1.03 during trading hours on Wednesday, reaching $62.33. 87,519 shares of the stock traded hands, compared to its average volume of 862,953. Terreno Realty Co. has a one year low of $53.78 and a one year high of $71.63. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 32.50, a P/E/G ratio of 2.82 and a beta of 0.93. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $66.13 and a 200 day moving average price of $63.52.

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 (EPS) for the quarter, beating the consensus estimate 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 research analysts expect that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be paid a $0.49 dividend. The ex-dividend date is Thursday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 3.14%. Terreno Realty's dividend payout ratio (DPR) is 102.08%.

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.