JPMorgan Chase & Co. Grows Holdings in Terreno Realty Corporation $TRNO

JPMorgan Chase & Co. raised its position in Terreno Realty Corporation (NYSE:TRNO) by 14.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,252,479 shares of the real estate investment trust’s stock after purchasing an additional 159,104 shares during the period. JPMorgan Chase & Co.’s holdings in Terreno Realty were worth $71,078,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Terreno Realty during the second quarter worth about $156,525,000. Osterweis Capital Management Inc. acquired a new stake in Terreno Realty during the 2nd quarter valued at approximately $33,699,000. Boston Trust Walden Corp acquired a new stake in Terreno Realty during the 3rd quarter valued at approximately $26,957,000. Schroder Investment Management Group increased its holdings 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 during the last quarter. Finally, Hudson Bay Capital Management LP raised its position in shares of Terreno Realty by 359.3% in the 2nd quarter. Hudson Bay Capital Management LP now owns 390,919 shares of the real estate investment trust’s stock valued at $21,919,000 after purchasing an additional 305,806 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TRNO shares. Citizens Jmp raised their price target on shares of Terreno Realty from $66.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Friday, February 6th. Piper Sandler increased their price objective on shares of Terreno Realty from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Citigroup boosted their target price on shares of Terreno Realty from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Scotiabank upped their target price on shares of Terreno Realty from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Finally, Barclays reiterated a “positive” rating and issued a $60.00 price target on shares of Terreno Realty in a research note on Tuesday, January 13th. 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.36.

Terreno Realty Stock Down 0.5%

Shares of NYSE:TRNO opened at $65.38 on Wednesday. The company’s fifty day moving average is $62.08 and its two-hundred day moving average is $60.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32. Terreno Realty Corporation has a 1-year low of $48.18 and a 1-year high of $69.20. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 2.63 and a beta of 1.13.

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 business had revenue of $137.48 million during the quarter, compared to the consensus estimate of $124.72 million. Terreno Realty had a net margin of 84.51% and a return on equity of 10.08%. Equities analysts anticipate that Terreno Realty Corporation will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

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

Terreno Realty Company Profile

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.