State of New Jersey Common Pension Fund D Sells 24,023 Shares of Terreno Realty Co. (NYSE:TRNO)

State of New Jersey Common Pension Fund D lowered its holdings in Terreno Realty Co. (NYSE:TRNO - Free Report) by 34.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,926 shares of the real estate investment trust's stock after selling 24,023 shares during the period. State of New Jersey Common Pension Fund D's holdings in Terreno Realty were worth $2,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its position in Terreno Realty by 2,381.3% during the third quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 381 shares in the last quarter. Manchester Capital Management LLC bought a new stake in shares of Terreno Realty in the 4th quarter valued at about $27,000. International Assets Investment Management LLC increased its position in 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 worth $67,000 after buying an additional 987 shares during the last quarter. Huntington National Bank increased its holdings in shares of Terreno Realty by 7.4% during the 3rd quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust's stock worth $171,000 after acquiring an additional 177 shares during the last quarter. Finally, Financial Advocates Investment Management bought a new position in Terreno Realty during the third quarter worth $205,000.

Terreno Realty Price Performance

Terreno Realty stock traded up $0.26 during mid-day trading 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 fifty-two week low of $53.78 and a fifty-two week high of $71.63. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. The company has a market cap 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 business has a fifty day simple moving average of $62.56 and a 200 day simple moving average of $64.03.

Terreno Realty (NYSE:TRNO - Get Free Report) last released its quarterly earnings data 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%. On average, equities research analysts predict that Terreno Realty Co. will post 2.64 earnings per share for the current year.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Thursday, March 27th. Terreno Realty's payout ratio is 102.08%.

Analysts Set New Price Targets

TRNO has been the subject of a number of research reports. Barclays restated an "equal weight" rating and set a $60.00 target price (down previously from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. BMO Capital Markets lifted their target price on Terreno Realty from $71.00 to $73.00 and gave the stock a "market perform" rating in a report on Wednesday, February 12th. Piper Sandler dropped their price objective on shares of Terreno Realty from $80.00 to $78.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. JMP Securities reiterated a "market outperform" rating and issued a $72.00 price target on shares of Terreno Realty in a research report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Terreno Realty in a research report on Tuesday, January 14th. They issued a "hold" rating and a $60.00 price target on the stock. 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. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $69.27.

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.