California State Teachers Retirement System Acquires 23,800 Shares of Terreno Realty Corporation $TRNO

California State Teachers Retirement System grew its stake in Terreno Realty Corporation (NYSE:TRNO) by 24.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,575 shares of the real estate investment trust’s stock after acquiring an additional 23,800 shares during the quarter. California State Teachers Retirement System’s holdings in Terreno Realty were worth $7,467,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Terreno Realty by 73.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 189 shares during the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Terreno Realty in the third quarter valued at about $25,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Terreno Realty by 52.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 172 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Terreno Realty by 304.3% in the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 350 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Terreno Realty in the fourth quarter valued at approximately $30,000.

Terreno Realty Stock Down 2.0%

Shares of TRNO opened at $70.29 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91. Terreno Realty Corporation has a 1 year low of $53.00 and a 1 year high of $78.94. The stock has a market capitalization of $7.47 billion, a PE ratio of 17.19 and a beta of 1.03. The company’s 50-day simple moving average is $68.19 and its 200-day simple moving average is $65.60.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 86.44% and a return on equity of 10.35%. Analysts forecast that Terreno Realty Corporation will post 2.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TRNO has been the subject of several research reports. Scotiabank decreased their price objective on shares of Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 18th. Wells Fargo & Company cut their price target 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. Weiss Ratings restated a “buy (b)” rating on shares of Terreno Realty in a research report on Friday. Piper Sandler upped their target price on Terreno Realty from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Finally, Barclays increased their target price on Terreno Realty from $60.00 to $69.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.71.

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.