Terreno Realty Co. (NYSE:TRNO) Shares Sold by Cynosure Group LLC

Cynosure Group LLC lowered its stake in shares of Terreno Realty Co. (NYSE:TRNO) by 6.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,902 shares of the real estate investment trust’s stock after selling 359 shares during the period. Cynosure Group LLC’s holdings in Terreno Realty were worth $290,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Terreno Realty by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock valued at $902,293,000 after buying an additional 1,484,301 shares in the last quarter. Norges Bank purchased a new position in shares of Terreno Realty in the fourth quarter valued at approximately $58,818,000. Bank of New York Mellon Corp grew its holdings in shares of Terreno Realty by 58.3% in the fourth quarter. Bank of New York Mellon Corp now owns 948,090 shares of the real estate investment trust’s stock valued at $56,070,000 after purchasing an additional 349,060 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Terreno Realty during the 4th quarter worth approximately $19,792,000. Finally, Congress Asset Management Co. lifted its holdings in Terreno Realty by 72.0% during the 4th quarter. Congress Asset Management Co. now owns 449,093 shares of the real estate investment trust’s stock worth $26,559,000 after buying an additional 188,060 shares in the last quarter.

Wall Street Analysts Forecast Growth

TRNO has been the subject of several research reports. JMP Securities restated a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a research note on Monday, February 10th. Piper Sandler cut their price target on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Scotiabank lifted their price objective on Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a research note on Friday, February 28th. Barclays cut their target price 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, The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $77.00 in a research note on Friday, February 21st. Two investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $69.09.

Terreno Realty Trading Down 9.4 %

NYSE TRNO opened at $57.87 on Friday. Terreno Realty Co. has a 12 month low of $53.78 and a 12 month high of $71.63. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. The firm’s fifty day moving average price is $65.99 and its 200 day moving average price is $63.48.

Terreno Realty (NYSE:TRNO) last issued 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 return on equity of 5.20% and a net margin of 48.18%. On average, sell-side analysts expect that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s dividend payout ratio is currently 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.