Covestor Ltd Raises Stake in Terreno Realty Co. (NYSE:TRNO)

Covestor Ltd lifted its stake in shares of Terreno Realty Co. (NYSE:TRNO) by 22.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,243 shares of the real estate investment trust’s stock after purchasing an additional 598 shares during the quarter. Covestor Ltd’s holdings in Terreno Realty were worth $192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Verition Fund Management LLC acquired a new stake in shares of Terreno Realty during the 3rd quarter valued at approximately $225,000. HighTower Advisors LLC purchased a new position in shares of Terreno Realty in the third quarter valued at $255,000. Stifel Financial Corp boosted its position in shares of Terreno Realty by 39.3% in the 3rd quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock worth $6,156,000 after buying an additional 25,988 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in Terreno Realty by 10.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 9,389 shares of the real estate investment trust’s stock valued at $627,000 after acquiring an additional 903 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of Terreno Realty by 6.1% in the third quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 249 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Piper Sandler cut shares of Terreno Realty from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $78.00 to $61.00 in a research note on Monday. Deutsche Bank Aktiengesellschaft assumed coverage on Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective on the stock. JMP Securities reissued a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research note on Monday, February 10th. Barclays decreased their price target on shares of 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. Finally, Scotiabank reduced their price objective on shares of Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $66.55.

Terreno Realty Price Performance

TRNO stock opened at $53.99 on Friday. The stock has a 50-day moving average price of $64.35 and a two-hundred day moving average price of $62.75. The company has a market cap of $5.56 billion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty Co. has a 12-month low of $48.18 and a 12-month high of $71.63.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. As a group, research analysts predict that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were paid a $0.49 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.63%. Terreno Realty’s dividend payout ratio (DPR) is currently 102.08%.

Terreno Realty 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.