DigitalBridge Group Inc. Purchases 78,000 Shares of Terreno Realty Corporation $TRNO

DigitalBridge Group Inc. increased its position in Terreno Realty Corporation (NYSE:TRNO) by 29.0% in the third quarter, HoldingsChannel reports. The firm owned 346,700 shares of the real estate investment trust’s stock after purchasing an additional 78,000 shares during the quarter. Terreno Realty accounts for approximately 1.5% of DigitalBridge Group Inc.’s holdings, making the stock its 26th biggest holding. DigitalBridge Group Inc.’s holdings in Terreno Realty were worth $18,649,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in Terreno Realty by 73.3% in the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 189 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Terreno Realty by 15.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 193 shares during the period. Mackenzie Financial Corp grew its position in shares of Terreno Realty by 2.8% in the 3rd quarter. Mackenzie Financial Corp now owns 7,072 shares of the real estate investment trust’s stock worth $401,000 after buying an additional 193 shares during the period. Phillips Wealth Planners LLC increased its stake in shares of Terreno Realty by 4.7% in the 3rd quarter. Phillips Wealth Planners LLC now owns 4,681 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 208 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of Terreno Realty by 9.1% in the 3rd quarter. Huntington National Bank now owns 2,923 shares of the real estate investment trust’s stock worth $166,000 after acquiring an additional 244 shares in the last quarter.

Terreno Realty Price Performance

Shares of TRNO opened at $63.47 on Wednesday. Terreno Realty Corporation has a twelve month low of $48.18 and a twelve month high of $67.70. The company has a market capitalization of $6.61 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 2.51 and a beta of 1.12. The firm has a 50 day moving average of $63.35 and a 200 day moving average of $60.95. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 4th. The real estate investment trust reported $1.53 EPS for the quarter, beating the consensus estimate of $0.85 by $0.68. The business had revenue of $137.48 million for the quarter, compared to the consensus estimate of $124.72 million. Terreno Realty had a return on equity of 10.08% and a net margin of 84.51%. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is presently 53.33%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRNO. iA Financial set a $75.00 price objective on shares of Terreno Realty in a research note on Friday, February 6th. Cantor Fitzgerald lifted their target price on shares of Terreno Realty from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Piper Sandler upped their price target on Terreno Realty from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. UBS Group set a $72.00 price objective on Terreno Realty in a research report on Monday, February 9th. Finally, Citizens Jmp lifted their price objective on Terreno Realty from $66.00 to $70.00 and gave the company a “market outperform” rating in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Terreno Realty has an average rating of “Moderate Buy” and an average 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.