Cibc World Markets Corp Takes Position in Terreno Realty Co. (NYSE:TRNO)

Cibc World Markets Corp acquired a new stake in Terreno Realty Co. (NYSE:TRNO) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 8,940 shares of the real estate investment trust’s stock, valued at approximately $529,000.

Other hedge funds have also modified their holdings of the company. Stifel Financial Corp raised its stake in shares of Terreno Realty by 39.3% in the third quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock valued at $6,156,000 after acquiring an additional 25,988 shares in the last quarter. Barclays PLC raised its stake 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 valued at $11,360,000 after buying an additional 96,380 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 valued at $115,475,000 after buying an additional 315,506 shares in the last quarter. Geode Capital Management LLC raised its stake in Terreno Realty by 0.4% in the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock valued at $161,423,000 after buying an additional 8,940 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Terreno Realty in the third quarter valued at $225,000.

Analyst Upgrades and Downgrades

TRNO has been the topic of a number of research analyst reports. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $77.00 in a research report on Friday, February 21st. BMO Capital Markets lifted their target price on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft initiated coverage on Terreno Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $60.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a research report on Monday, February 10th. Finally, Piper Sandler cut their target price on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Terreno Realty presently has a consensus rating of “Hold” and an average price target of $69.36.

Terreno Realty Price Performance

Shares of TRNO opened at $62.56 on Friday. Terreno Realty Co. has a twelve month low of $53.78 and a twelve month high of $71.63. The stock’s 50 day moving average is $65.78 and its two-hundred day moving average is $63.81. The firm has a market capitalization of $6.24 billion, a PE ratio of 32.58, a P/E/G ratio of 2.82 and a beta of 0.93. 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 (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 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%. Research analysts anticipate that Terreno Realty Co. will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is 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.