Rhumbline Advisers Boosts Stock Position in Terreno Realty Co. (NYSE:TRNO)

Rhumbline Advisers lifted its stake in Terreno Realty Co. (NYSE:TRNO - Free Report) by 70.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 342,345 shares of the real estate investment trust's stock after purchasing an additional 141,612 shares during the period. Rhumbline Advisers owned 0.34% of Terreno Realty worth $20,246,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Stifel Financial Corp raised its holdings in Terreno Realty by 39.3% in the third quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust's stock worth $6,156,000 after purchasing an additional 25,988 shares in the last quarter. Barclays PLC boosted its stake in Terreno Realty by 131.0% during the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust's stock worth $11,360,000 after acquiring an additional 96,380 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Terreno Realty by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust's stock worth $115,475,000 after purchasing an additional 315,506 shares during the period. Geode Capital Management LLC increased its stake in shares of Terreno Realty by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust's stock valued at $161,423,000 after purchasing an additional 8,940 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Terreno Realty during the third quarter valued at approximately $225,000.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TRNO. Piper Sandler cut their price target 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. Scotiabank reduced their price target on Terreno Realty from $70.00 to $67.00 and set a "sector perform" rating for the company in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $60.00 price target on the stock. JMP Securities restated a "market outperform" rating and set a $72.00 price objective on shares of Terreno Realty in a research note on Monday, February 10th. Finally, Barclays reiterated 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $69.27.

Terreno Realty Stock Performance

Terreno Realty stock traded up $0.26 during midday trading on Friday, reaching $67.08. 1,301,114 shares of the company traded hands, compared to its average volume of 870,827. Terreno Realty Co. has a 12 month low of $53.78 and a 12 month high of $71.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. The business has a 50 day moving average of $62.56 and a two-hundred day moving average of $64.03. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 34.94, a price-to-earnings-growth ratio of 2.82 and a beta of 0.91.

Terreno Realty (NYSE:TRNO - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating 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%. As a group, research analysts predict that Terreno Realty Co. will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be given a $0.49 dividend. 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%.

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.