Granite Investment Partners LLC Has $8.32 Million Stock Position in Terreno Realty Corporation $TRNO

Granite Investment Partners LLC lowered its position in Terreno Realty Corporation (NYSE:TRNO) by 5.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 135,416 shares of the real estate investment trust’s stock after selling 8,218 shares during the period. Granite Investment Partners LLC’s holdings in Terreno Realty were worth $8,317,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TRNO. Norges Bank bought a new stake in shares of Terreno Realty in the fourth quarter worth $168,221,000. Balyasny Asset Management L.P. grew its position in Terreno Realty by 529.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 407,497 shares of the real estate investment trust’s stock valued at $23,924,000 after purchasing an additional 342,740 shares in the last quarter. UBS Group AG increased its stake in Terreno Realty by 108.1% in the 3rd quarter. UBS Group AG now owns 599,894 shares of the real estate investment trust’s stock valued at $34,044,000 after buying an additional 311,559 shares during the last quarter. Adelante Capital Management LLC acquired a new stake in Terreno Realty in the 3rd quarter valued at $16,070,000. Finally, State Street Corp lifted its position in Terreno Realty by 4.0% during the 2nd quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock worth $336,139,000 after buying an additional 230,444 shares in the last quarter.

Terreno Realty Stock Down 1.9%

Shares of TRNO stock opened at $67.44 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91. The firm’s 50-day moving average is $65.78 and its 200-day moving average is $63.93. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 16.49 and a beta of 1.05. Terreno Realty Corporation has a 52-week low of $53.00 and a 52-week high of $69.47.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.36. The business had revenue of $124.44 million during the quarter, compared to analysts’ expectations of $122.60 million. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%. Sell-side analysts predict that Terreno Realty Corporation will post 2.8 EPS for the current year.

Terreno Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, June 26th. Terreno Realty’s dividend payout ratio (DPR) is presently 50.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group set a $68.00 price objective on shares of Terreno Realty in a research note on Thursday, June 18th. 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 report on Monday, June 1st. Robert W. Baird set a $69.00 price target on Terreno Realty in a research report on Friday, May 8th. Raymond James Financial started coverage on Terreno Realty in a research note on Wednesday, June 17th. They issued an “underperform” rating for the company. Finally, Scotiabank dropped their price objective on Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Terreno Realty currently has a consensus rating of “Moderate Buy” and an average price target of $69.21.

Terreno Realty 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.