NFJ Investment Group LLC Sells 11,057 Shares of Terreno Realty Corporation $TRNO

NFJ Investment Group LLC lessened its holdings in shares of Terreno Realty Corporation (NYSE:TRNO) by 11.8% during the 4th quarter, HoldingsChannel reports. The firm owned 82,264 shares of the real estate investment trust’s stock after selling 11,057 shares during the period. NFJ Investment Group LLC’s holdings in Terreno Realty were worth $4,830,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. DigitalBridge Group Inc. lifted its holdings in shares of Terreno Realty by 29.0% during the 3rd quarter. DigitalBridge Group Inc. now owns 346,700 shares of the real estate investment trust’s stock valued at $18,649,000 after purchasing an additional 78,000 shares in the last quarter. Delphi Management Inc. MA bought a new position in shares of Terreno Realty during the 4th quarter valued at about $1,238,000. Sage Rhino Capital LLC lifted its holdings in shares of Terreno Realty by 36.6% during the 4th quarter. Sage Rhino Capital LLC now owns 40,190 shares of the real estate investment trust’s stock valued at $2,360,000 after purchasing an additional 10,777 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Terreno Realty by 7.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,208,471 shares of the real estate investment trust’s stock valued at $70,950,000 after purchasing an additional 81,444 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Terreno Realty by 14.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,252,479 shares of the real estate investment trust’s stock valued at $71,078,000 after purchasing an additional 159,104 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRNO. Weiss Ratings upgraded Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Scotiabank lifted their target price on Terreno Realty from $69.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Robert W. Baird set a $69.00 target price on Terreno Realty in a research report on Friday, May 8th. Finally, Wells Fargo & Company dropped their target price on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.64.

Terreno Realty Stock Up 0.8%

NYSE:TRNO opened at $67.21 on Friday. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 16.43 and a beta of 1.05. Terreno Realty Corporation has a twelve month low of $53.00 and a twelve month high of $67.83. The stock’s 50 day moving average price is $65.44 and its two-hundred day moving average price is $63.40. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.36. The firm had revenue of $124.44 million for the quarter, compared to analyst estimates of $122.60 million. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%. Equities research analysts expect that Terreno Realty Corporation will post 2.79 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.08 annualized dividend and a dividend yield of 3.1%. Terreno Realty’s payout ratio is 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.