Russell Investments Group Ltd. grew its stake in Terreno Realty Co. (NYSE:TRNO - Free Report) by 280.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 520,187 shares of the real estate investment trust's stock after buying an additional 383,400 shares during the quarter. Russell Investments Group Ltd. owned 0.52% of Terreno Realty worth $30,764,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Terreno Realty by 10.8% in 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 acquiring an additional 1,484,301 shares during the last quarter. Norges Bank purchased a new stake in shares of Terreno Realty during the 4th quarter worth $58,818,000. Bank of New York Mellon Corp grew its stake in shares of Terreno Realty by 58.3% during the fourth quarter. Bank of New York Mellon Corp now owns 948,090 shares of the real estate investment trust's stock worth $56,070,000 after purchasing an additional 349,060 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Terreno Realty in the fourth quarter valued at $19,792,000. Finally, Congress Asset Management Co. raised its stake in Terreno Realty by 72.0% in the fourth quarter. Congress Asset Management Co. now owns 449,093 shares of the real estate investment trust's stock valued at $26,559,000 after buying an additional 188,060 shares in the last quarter.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. 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. The Goldman Sachs Group upgraded shares of Terreno Realty from a "neutral" rating to a "buy" rating and increased their price target for the company from $65.00 to $77.00 in a research note on Friday, February 21st. BMO Capital Markets boosted their price objective on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 12th. Scotiabank dropped their target price on shares of Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating on the stock in a research report on Monday, April 7th. Finally, Piper Sandler lowered shares of Terreno Realty from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $78.00 to $61.00 in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $66.55.
Get Our Latest Stock Report on Terreno Realty
Terreno Realty Stock Performance
NYSE TRNO traded up $0.60 during trading on Friday, reaching $54.56. The company's stock had a trading volume of 1,145,273 shares, compared to its average volume of 899,578. Terreno Realty Co. has a twelve month low of $48.18 and a twelve month high of $71.63. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 2.82 and a beta of 1.00. The business's fifty day moving average price is $64.12 and its 200-day moving average price is $62.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23.
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 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, analysts anticipate that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.
Terreno Realty Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Thursday, March 27th. Terreno Realty's payout ratio is 102.08%.
Terreno Realty Company Profile
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Free Report)
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.
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