Terreno Realty Corporation $TRNO Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC reduced its holdings in shares of Terreno Realty Corporation (NYSE:TRNO) by 31.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,429 shares of the real estate investment trust’s stock after selling 70,163 shares during the period. Granite Investment Partners LLC owned about 0.15% of Terreno Realty worth $8,707,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Terreno Realty in the second quarter worth $156,525,000. Osterweis Capital Management Inc. purchased a new position in Terreno Realty in the second quarter valued at $33,699,000. Boston Trust Walden Corp acquired a new position in Terreno Realty during the 3rd quarter worth $26,957,000. Schroder Investment Management Group grew its stake in Terreno Realty by 55.7% during the 2nd quarter. Schroder Investment Management Group now owns 1,131,989 shares of the real estate investment trust’s stock worth $63,471,000 after purchasing an additional 405,015 shares in the last quarter. Finally, Hudson Bay Capital Management LP increased its holdings in Terreno Realty by 359.3% during the 2nd quarter. Hudson Bay Capital Management LP now owns 390,919 shares of the real estate investment trust’s stock worth $21,919,000 after purchasing an additional 305,806 shares during the period.

Terreno Realty Stock Performance

Shares of TRNO opened at $65.91 on Monday. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 2.64 and a beta of 1.13. Terreno Realty Corporation has a 52-week low of $48.18 and a 52-week high of $69.20. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $61.87 and a 200 day moving average price of $59.91.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, February 4th. The real estate investment trust reported $1.53 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.68. Terreno Realty had a net margin of 84.51% and a return on equity of 10.08%. The business had revenue of $137.48 million during the quarter, compared to the consensus estimate of $124.72 million. Research analysts predict that Terreno Realty Corporation will post 2.64 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. Terreno Realty’s payout ratio is 53.33%.

Wall Street Analysts Forecast Growth

TRNO has been the subject of several recent research reports. Robert W. Baird set a $67.00 price objective on Terreno Realty in a research note on Wednesday, February 11th. Citigroup lifted their price target on shares of Terreno Realty from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Weiss Ratings upgraded shares of Terreno Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 22nd. Cantor Fitzgerald increased their price objective on shares of Terreno Realty from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Finally, UBS Group set a $72.00 price objective on shares of Terreno Realty in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Terreno Realty has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

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.