Vanguard Group Inc. Cuts Stock Position in Terreno Realty Corporation $TRNO

Vanguard Group Inc. lessened its holdings in Terreno Realty Corporation (NYSE:TRNO) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,625,162 shares of the real estate investment trust’s stock after selling 20,438 shares during the period. Vanguard Group Inc. owned approximately 15.13% of Terreno Realty worth $886,728,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Mather Group LLC. bought a new stake in shares of Terreno Realty in the 3rd quarter worth about $25,000. EverSource Wealth Advisors LLC grew its position 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 acquiring an additional 189 shares in the last quarter. First Horizon Corp bought a new stake in Terreno Realty during the third quarter worth approximately $26,000. Geneos Wealth Management Inc. lifted its stake in shares of Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 350 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its stake in shares of Terreno Realty by 140.6% in the 2nd quarter. Osaic Holdings Inc. now owns 611 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 357 shares during the last quarter.

Terreno Realty Stock Up 1.4%

Shares of TRNO opened at $65.91 on Monday. The firm has a fifty day moving average price of $61.87 and a 200-day moving average price of $59.91. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $6.87 billion, a P/E ratio of 16.90, a P/E/G ratio of 2.64 and a beta of 1.13. Terreno Realty Corporation has a 12-month low of $48.18 and a 12-month high of $69.20.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, February 4th. The real estate investment trust reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.68. The company had revenue of $137.48 million during the quarter, compared to analyst estimates of $124.72 million. Terreno Realty had a net margin of 84.51% and a return on equity of 10.08%. Equities research analysts expect that Terreno Realty Corporation will post 2.64 earnings per share for the current year.

Terreno Realty Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, March 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. Terreno Realty’s payout ratio is presently 53.33%.

Analysts Set New Price Targets

TRNO has been the topic of several recent research reports. Barclays restated a “positive” rating and set a $60.00 price target on shares of Terreno Realty in a report on Tuesday, January 13th. Piper Sandler boosted their price objective on shares of Terreno Realty from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. UBS Group set a $72.00 target price on shares of Terreno Realty in a research note on Monday, February 9th. Robert W. Baird set a $67.00 price target on shares of Terreno Realty in a research note on Wednesday, February 11th. Finally, KeyCorp upped their price target on shares of Terreno Realty from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, February 9th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.