Voya Investment Management LLC Sells 10,985 Shares of Terreno Realty Corporation $TRNO

Voya Investment Management LLC reduced its position in Terreno Realty Corporation (NYSE:TRNO) by 33.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,759 shares of the real estate investment trust’s stock after selling 10,985 shares during the period. Voya Investment Management LLC’s holdings in Terreno Realty were worth $1,235,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TRNO. State Street Corp increased its holdings in Terreno Realty by 4.0% during the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock worth $336,139,000 after buying an additional 230,444 shares during the last quarter. Norges Bank purchased a new stake in Terreno Realty during the 2nd quarter worth about $156,525,000. Geode Capital Management LLC boosted its stake in Terreno Realty by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 2,631,838 shares of the real estate investment trust’s stock worth $147,584,000 after purchasing an additional 92,519 shares during the period. Invesco Ltd. grew its holdings in Terreno Realty by 7.8% during the 2nd quarter. Invesco Ltd. now owns 2,080,116 shares of the real estate investment trust’s stock valued at $116,632,000 after buying an additional 150,020 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Terreno Realty by 4.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,967,489 shares of the real estate investment trust’s stock valued at $110,317,000 after buying an additional 83,403 shares in the last quarter.

Terreno Realty Stock Down 0.3%

Shares of Terreno Realty stock opened at $59.73 on Wednesday. The company has a 50-day moving average of $60.76 and a 200 day moving average of $58.42. 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 $6.18 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 2.38 and a beta of 1.12. 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 (NYSE:TRNO) last issued its earnings results on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.34. Terreno Realty had a net margin of 72.41% and a return on equity of 8.27%. The business had revenue of $116.25 million during the quarter, compared to analysts’ expectations of $114.62 million. As a group, sell-side analysts anticipate that Terreno Realty Corporation will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The firm 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. The ex-dividend date is Monday, December 15th. This represents a $2.08 annualized dividend and a dividend yield of 3.5%. Terreno Realty’s dividend payout ratio (DPR) is currently 66.03%.

Insider Buying and Selling

In other news, EVP John Tull Meyer sold 4,758 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $59.95, for a total transaction of $285,242.10. Following the sale, the executive vice president directly owned 119,949 shares of the company’s stock, valued at $7,190,942.55. This represents a 3.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TRNO has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Terreno Realty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. UBS Group set a $56.00 price objective on shares of Terreno Realty in a report on Thursday, December 4th. Piper Sandler raised Terreno Realty from a “neutral” rating to an “overweight” rating and set a $75.00 price target on the stock in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Terreno Realty in a research note on Monday. Finally, Cantor Fitzgerald assumed coverage on shares of Terreno Realty in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $70.00 target price on the stock. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $65.54.

About Terreno Realty

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.