Cramer Rosenthal Mcglynn LLC Sells 48,377 Shares of Terreno Realty Co. (NYSE:TRNO)

Cramer Rosenthal Mcglynn LLC trimmed its stake in Terreno Realty Co. (NYSE:TRNO) by 8.4% in the fourth quarter, Holdings Channel reports. The firm owned 526,589 shares of the real estate investment trust’s stock after selling 48,377 shares during the quarter. Terreno Realty comprises approximately 1.8% of Cramer Rosenthal Mcglynn LLC’s investment portfolio, making the stock its 20th biggest position. Cramer Rosenthal Mcglynn LLC’s holdings in Terreno Realty were worth $31,142,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co increased its holdings in Terreno Realty by 69.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 234,493 shares of the real estate investment trust’s stock worth $13,869,000 after buying an additional 96,101 shares during the last quarter. Capital Square LLC raised its holdings in shares of Terreno Realty by 6.7% in the 4th quarter. Capital Square LLC now owns 18,729 shares of the real estate investment trust’s stock valued at $1,217,000 after purchasing an additional 1,182 shares during the period. Farringdon Capital Ltd. acquired a new stake in Terreno Realty in the 4th quarter valued at about $771,000. Jump Financial LLC bought a new position in Terreno Realty during the fourth quarter worth about $1,169,000. Finally, XTX Topco Ltd bought a new stake in Terreno Realty in the fourth quarter valued at approximately $1,291,000.

Analysts Set New Price Targets

TRNO has been the topic of a number of research analyst reports. Barclays dropped their price target on 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. JMP Securities reiterated a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a research note on Monday, February 10th. BMO Capital Markets increased their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Piper Sandler decreased their target price on Terreno Realty from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and boosted their price target for the company from $65.00 to $77.00 in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Terreno Realty has an average rating of “Hold” and an average price target of $66.45.

Terreno Realty Stock Performance

Shares of NYSE:TRNO opened at $57.65 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. Terreno Realty Co. has a 1 year low of $48.18 and a 1 year high of $71.63. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00. The company’s 50 day simple moving average is $63.27 and its 200 day simple moving average is $62.39.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts’ consensus estimates 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 fiscal year.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 3.40%. Terreno Realty’s dividend payout ratio (DPR) is presently 102.08%.

Terreno Realty Company 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.