Spirit of America Management Corp NY Sells 9,750 Shares of Terreno Realty Corporation $TRNO

Spirit of America Management Corp NY decreased its position in shares of Terreno Realty Corporation (NYSE:TRNO) by 23.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,225 shares of the real estate investment trust’s stock after selling 9,750 shares during the quarter. Spirit of America Management Corp NY’s holdings in Terreno Realty were worth $1,772,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TRNO. Norden Group LLC bought a new stake in shares of Terreno Realty during the 3rd quarter worth approximately $222,000. Exchange Traded Concepts LLC acquired a new position in Terreno Realty during the third quarter valued at approximately $109,000. Congress Asset Management Co. lifted its stake in Terreno Realty by 4.8% during the third quarter. Congress Asset Management Co. now owns 545,558 shares of the real estate investment trust’s stock worth $30,960,000 after purchasing an additional 25,202 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Terreno Realty by 2.0% in the 2nd quarter. Corient Private Wealth LLC now owns 22,576 shares of the real estate investment trust’s stock valued at $1,266,000 after purchasing an additional 448 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in shares of Terreno Realty by 3.3% in the 2nd quarter. Texas Permanent School Fund Corp now owns 40,792 shares of the real estate investment trust’s stock valued at $2,287,000 after purchasing an additional 1,308 shares during the last quarter.

Terreno Realty Stock Up 1.2%

Shares of NYSE TRNO opened at $60.50 on Friday. The company has a 50 day simple moving average of $60.86 and a 200 day simple moving average of $58.43. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. Terreno Realty Corporation has a 1 year low of $48.18 and a 1 year high of $69.20. The firm has a market cap of $6.26 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.34. The firm had revenue of $116.25 million for the quarter, compared to analyst estimates of $114.62 million. Terreno Realty had a net margin of 72.41% and a return on equity of 8.27%. On average, research analysts forecast that Terreno Realty Corporation will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Monday, December 15th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, December 15th. Terreno Realty’s dividend payout ratio (DPR) is currently 66.03%.

Analysts Set New Price Targets

Several analysts recently weighed in on TRNO shares. KeyCorp upped their price objective on Terreno Realty from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. The Goldman Sachs Group increased their target price on shares of Terreno Realty from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Scotiabank raised shares of Terreno Realty from a “sector perform” rating to a “sector outperform” rating and set a $67.00 price target on the stock in a report on Monday, November 10th. Mizuho upped their price objective on shares of Terreno Realty from $53.00 to $56.00 and gave the stock an “underperform” rating in a research report on Thursday, December 4th. Finally, Barclays raised their target price on shares of Terreno Realty from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 15th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Terreno Realty currently has an average rating of “Hold” and a consensus target price of $65.54.

Insider Buying and Selling

In other Terreno Realty news, EVP John Tull Meyer sold 4,758 shares of Terreno Realty stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $59.95, for a total transaction of $285,242.10. Following the transaction, the executive vice president directly owned 119,949 shares of the company’s stock, valued at approximately $7,190,942.55. The trade was a 3.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Terreno Realty Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.