Maryland State Retirement & Pension System Invests $1.99 Million in Terreno Realty Co. (NYSE:TRNO)

Maryland State Retirement & Pension System acquired a new position in Terreno Realty Co. (NYSE:TRNO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 33,587 shares of the real estate investment trust’s stock, valued at approximately $1,986,000.

Several other institutional investors have also recently made changes to their positions in TRNO. Stifel Financial Corp grew its position in shares of Terreno Realty by 39.3% during the third quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock worth $6,156,000 after purchasing an additional 25,988 shares in the last quarter. Barclays PLC grew its position in shares of Terreno Realty by 131.0% during the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock worth $11,360,000 after purchasing an additional 96,380 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Terreno Realty by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock worth $115,475,000 after purchasing an additional 315,506 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Terreno Realty by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock worth $161,423,000 after purchasing an additional 8,940 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Terreno Realty during the third quarter worth about $225,000.

Terreno Realty Price Performance

NYSE:TRNO opened at $62.56 on Friday. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 2.82 and a beta of 0.93. Terreno Realty Co. has a 1 year low of $53.78 and a 1 year high of $71.63. The business has a 50 day simple moving average of $65.78 and a 200-day simple moving average of $63.85. 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 (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. Equities analysts forecast that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s dividend payout ratio is currently 102.08%.

Analysts Set New Price Targets

Several research firms have weighed in on TRNO. Piper Sandler cut their price target on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and raised their price target for the company from $65.00 to $77.00 in a report on Friday, February 21st. BMO Capital Markets raised their price target on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Barclays restated an “equal weight” rating and set a $60.00 price target (down previously from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price target for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $69.36.

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.