abrdn plc Sells 37,239 Shares of Terreno Realty Co. (NYSE:TRNO)

abrdn plc lowered its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 8.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 417,031 shares of the real estate investment trust’s stock after selling 37,239 shares during the period. abrdn plc owned about 0.49% of Terreno Realty worth $26,135,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AE Wealth Management LLC grew its holdings in Terreno Realty by 25.8% in the 3rd quarter. AE Wealth Management LLC now owns 8,748 shares of the real estate investment trust’s stock worth $497,000 after acquiring an additional 1,795 shares during the last quarter. Ronald Blue Trust Inc. boosted its stake in shares of Terreno Realty by 93.9% during the 3rd quarter. Ronald Blue Trust Inc. now owns 537 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 260 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Terreno Realty by 38.6% during the 3rd quarter. SG Americas Securities LLC now owns 10,669 shares of the real estate investment trust’s stock valued at $606,000 after purchasing an additional 2,969 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Terreno Realty by 1.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 38,815 shares of the real estate investment trust’s stock valued at $2,203,000 after purchasing an additional 521 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its stake in shares of Terreno Realty by 1.4% during the 3rd quarter. Copeland Capital Management LLC now owns 979,677 shares of the real estate investment trust’s stock valued at $55,646,000 after purchasing an additional 13,997 shares in the last quarter.

Terreno Realty Trading Up 2.6 %

Shares of NYSE TRNO opened at $56.52 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market cap of $5.46 billion, a P/E ratio of 31.23, a price-to-earnings-growth ratio of 2.53 and a beta of 0.81. Terreno Realty Co. has a 1 year low of $50.42 and a 1 year high of $66.63. The firm has a 50-day moving average of $62.58 and a 200 day moving average of $60.05.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.10. The business had revenue of $86.48 million during the quarter, compared to analysts’ expectations of $84.06 million. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. As a group, sell-side analysts expect that Terreno Realty Co. will post 2.42 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 28th were issued a $0.45 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.80 annualized dividend and a yield of 3.18%. Terreno Realty’s dividend payout ratio (DPR) is presently 99.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Terreno Realty from $60.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Scotiabank lifted their target price on shares of Terreno Realty from $64.00 to $66.00 and gave the company a “sector perform” rating in a research note on Monday, February 12th. StockNews.com raised shares of Terreno Realty from a “sell” rating to a “hold” rating in a research note on Saturday, March 23rd. Mizuho lifted their target price on shares of Terreno Realty from $52.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Piper Sandler lifted their price target on shares of Terreno Realty from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Terreno Realty currently has a consensus rating of “Hold” and an average target price of $67.11.

About Terreno Realty

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.