Terreno Realty Co. (NYSE:TRNO) Position Raised by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its holdings in shares of Terreno Realty Co. (NYSE:TRNO - Free Report) by 185.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,398 shares of the real estate investment trust's stock after acquiring an additional 20,380 shares during the quarter. Teacher Retirement System of Texas' holdings in Terreno Realty were worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of 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 purchasing an additional 1,496,666 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Terreno Realty by 339.7% during 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 valued at $40,842,000 after buying an additional 472,125 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of 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 during the period. Raymond James Financial Inc. acquired a new position in Terreno Realty during the 4th quarter worth approximately $19,792,000. Finally, Congress Asset Management Co. boosted its holdings in Terreno Realty by 72.0% in the 4th quarter. Congress Asset Management Co. now owns 449,093 shares of the real estate investment trust's stock worth $26,559,000 after acquiring an additional 188,060 shares during the period.

Remove Ads

Terreno Realty Stock Performance

Shares of TRNO traded up $0.52 during mid-day trading on Monday, hitting $63.25. The stock had a trading volume of 779,746 shares, compared to its average volume of 876,230. 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 market cap of $6.52 billion, a PE ratio of 32.94, a PEG ratio of 2.82 and a beta of 0.93. Terreno Realty Co. has a fifty-two week low of $53.78 and a fifty-two week high of $71.63. The company's fifty day simple moving average is $66.15 and its two-hundred day simple moving average is $63.56.

Terreno Realty (NYSE:TRNO - Get Free Report) last released 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 net margin of 48.18% and a return on equity of 5.20%. On average, equities analysts expect that Terreno Realty Co. will post 2.64 earnings per share for the current year.

Terreno Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders 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 dividend on an annualized basis and a yield of 3.10%. Terreno Realty's payout ratio is currently 102.08%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TRNO. Barclays dropped their price objective on shares of Terreno Realty from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 25th. Scotiabank lifted their price target on shares of Terreno Realty from $64.00 to $68.00 and gave the stock a "sector perform" rating in a research note on Friday, February 28th. BMO Capital Markets upped their price objective on shares of Terreno Realty from $71.00 to $73.00 and gave the company a "market perform" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group upgraded Terreno Realty from a "neutral" rating to a "buy" rating and raised their target price for the company from $65.00 to $77.00 in a research note on Friday, February 21st. Finally, 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $69.09.

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.