Royal Bank of Canada Decreases Stock Holdings in Terreno Realty Corporation $TRNO

Royal Bank of Canada decreased its stake in shares of Terreno Realty Corporation (NYSE:TRNO) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 324,618 shares of the real estate investment trust’s stock after selling 27,712 shares during the period. Royal Bank of Canada owned about 0.31% of Terreno Realty worth $19,940,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Terreno Realty by 246.6% in the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock worth $257,257,000 after buying an additional 2,979,982 shares during the last quarter. Norges Bank purchased a new position in Terreno Realty in the fourth quarter worth about $168,221,000. Balyasny Asset Management L.P. grew its stake in shares of Terreno Realty by 529.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 407,497 shares of the real estate investment trust’s stock valued at $23,924,000 after purchasing an additional 342,740 shares during the period. UBS Group AG grew its stake in shares of Terreno Realty by 108.1% during the 3rd quarter. UBS Group AG now owns 599,894 shares of the real estate investment trust’s stock valued at $34,044,000 after purchasing an additional 311,559 shares during the period. Finally, Adelante Capital Management LLC purchased a new stake in shares of Terreno Realty during the 3rd quarter valued at about $16,070,000.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TRNO. UBS Group set a $68.00 price objective on shares of Terreno Realty in a research note on Thursday, June 18th. Weiss Ratings restated a “buy (b)” rating on shares of Terreno Realty in a research report on Friday, July 31st. Robert W. Baird set a $69.00 target price on shares of Terreno Realty in a report on Friday, May 8th. The Goldman Sachs Group increased their price target on shares of Terreno Realty from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, KeyCorp reiterated an “overweight” rating on shares of Terreno Realty in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Terreno Realty currently has an average rating of “Moderate Buy” and a consensus target price of $71.71.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $69.56 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. Terreno Realty Corporation has a 1-year low of $53.00 and a 1-year high of $78.94. The company has a market capitalization of $7.39 billion, a P/E ratio of 17.01 and a beta of 1.03. The firm’s 50 day simple moving average is $68.25 and its two-hundred day simple moving average is $65.66.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. The firm had revenue of $124.71 million during the quarter, compared to analysts’ expectations of $127.17 million. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. Research analysts expect that Terreno Realty Corporation will post 2.81 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, September 30th. This is a boost from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s dividend payout ratio (DPR) is currently 50.86%.

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.