Terreno Realty Corporation $TRNO Stock Holdings Lifted by Davis Selected Advisers

Davis Selected Advisers grew its stake in shares of Terreno Realty Corporation (NYSE:TRNO) by 16.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 120,907 shares of the real estate investment trust’s stock after acquiring an additional 16,710 shares during the period. Davis Selected Advisers owned about 0.12% of Terreno Realty worth $6,861,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TRNO. Norges Bank acquired a new stake in shares of Terreno Realty during the second quarter worth $156,525,000. Osterweis Capital Management Inc. acquired a new position in shares of Terreno Realty in the 2nd quarter valued at $33,699,000. Boston Trust Walden Corp purchased a new position in Terreno Realty in the 3rd quarter worth about $26,957,000. Schroder Investment Management Group increased its stake in Terreno Realty by 55.7% in 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, UBS Group AG raised its holdings in 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 worth $34,044,000 after buying an additional 311,559 shares during the period.

Terreno Realty Price Performance

Shares of TRNO opened at $62.32 on Thursday. The business’s 50-day moving average is $63.41 and its 200-day moving average is $60.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 2.53 and a beta of 1.12. Terreno Realty Corporation has a fifty-two week low of $48.18 and a fifty-two week high of $67.00.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, February 4th. The real estate investment trust reported $1.53 EPS 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 analysts’ expectations of $124.72 million. Equities research analysts expect 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. Stockholders of record on Friday, March 27th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, March 27th. Terreno Realty’s payout ratio is currently 53.33%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank Of Canada set a $72.00 target price on shares of Terreno Realty in a report on Monday, February 9th. Wells Fargo & Company boosted their price target on shares of Terreno Realty from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. 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 research report on Monday, February 9th. Piper Sandler lifted their price objective on shares of Terreno Realty from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Finally, Citizens Jmp boosted their target price on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average 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.