DnB Asset Management AS Invests $230,000 in Terreno Realty Co. (NYSE:TRNO)

DnB Asset Management AS bought a new stake in Terreno Realty Co. (NYSE:TRNO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,895 shares of the real estate investment trust’s stock, valued at approximately $230,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of Terreno Realty by 5.3% in the third quarter. The Manufacturers Life Insurance Company now owns 70,103 shares of the real estate investment trust’s stock worth $4,685,000 after acquiring an additional 3,519 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in Terreno Realty in the 3rd quarter valued at $259,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Terreno Realty by 1.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,670 shares of the real estate investment trust’s stock worth $2,785,000 after purchasing an additional 662 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Terreno Realty by 339.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 611,128 shares of the real estate investment trust’s stock worth $40,842,000 after buying an additional 472,125 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Terreno Realty in the third quarter valued at about $225,000.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Terreno Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price target on the stock. Piper Sandler decreased their target price on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. JMP Securities reiterated a “market outperform” rating and issued a $72.00 price objective on shares of Terreno Realty in a report on Monday, February 10th. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and raised their target price for the company from $65.00 to $77.00 in a research note on Friday, February 21st. Finally, Barclays cut their price target on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $69.09.

Terreno Realty Stock Performance

Terreno Realty stock opened at $63.86 on Thursday. The company has a market cap of $6.58 billion, a PE ratio of 33.26, a P/E/G ratio of 2.82 and a beta of 0.93. Terreno Realty Co. has a 12 month low of $53.78 and a 12 month high of $71.63. The company has a fifty day moving average price of $66.12 and a two-hundred day moving average price of $63.52. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. Research analysts expect that Terreno Realty Co. will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s dividend payout ratio is presently 102.08%.

Terreno Realty Company Profile

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.