Chevy Chase Trust Holdings LLC Sells 4,978 Shares of Terreno Realty Co. (NYSE:TRNO)

Chevy Chase Trust Holdings LLC cut its holdings in Terreno Realty Co. (NYSE:TRNO) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 722,306 shares of the real estate investment trust’s stock after selling 4,978 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Terreno Realty were worth $42,717,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TRNO. FMR LLC raised its position in Terreno Realty by 16.4% in the third quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock worth $708,348,000 after acquiring an additional 1,496,666 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Terreno Realty by 339.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 611,128 shares of the real estate investment trust’s stock worth $40,842,000 after acquiring an additional 472,125 shares during the period. Massachusetts Financial Services Co. MA raised its position in Terreno Realty by 59.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,054,516 shares of the real estate investment trust’s stock worth $70,473,000 after acquiring an additional 394,436 shares during the period. Charles Schwab Investment Management Inc. raised its position in Terreno Realty by 22.3% in 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 acquiring an additional 315,506 shares during the period. Finally, Barclays PLC raised its position in Terreno Realty by 131.0% in the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock worth $11,360,000 after acquiring an additional 96,380 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TRNO shares. BMO Capital Markets increased their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research report on Wednesday. JMP Securities restated a “market outperform” rating and set a $72.00 price objective on shares of Terreno Realty in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. Piper Sandler decreased their price objective on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Barclays restated an “equal weight” rating and set a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Terreno Realty has an average rating of “Hold” and a consensus price target of $68.45.

Terreno Realty Stock Performance

Shares of NYSE TRNO opened at $66.74 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.71 and a current ratio of 0.23. The company has a market cap of $6.66 billion, a P/E ratio of 34.76, a P/E/G ratio of 2.85 and a beta of 0.91. The firm’s fifty day moving average is $62.10 and its two-hundred day moving average is $64.07. Terreno Realty Co. has a 52-week low of $53.78 and a 52-week high of $71.63.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data 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, analysts anticipate that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The firm 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. The ex-dividend date is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.94%. Terreno Realty’s payout ratio is currently 102.08%.

About Terreno Realty

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.