Terreno Realty Co. (NYSE:TRNO) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in Terreno Realty Co. (NYSE:TRNO) by 0.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,434,904 shares of the real estate investment trust’s stock after buying an additional 19,900 shares during the period. Geode Capital Management LLC’s holdings in Terreno Realty were worth $144,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Stifel Financial Corp boosted its position in 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 buying an additional 25,988 shares during the last quarter. Barclays PLC boosted its holdings in shares of Terreno Realty by 131.0% in the 3rd quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock valued at $11,360,000 after acquiring an additional 96,380 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Terreno Realty in the third quarter worth $225,000. HighTower Advisors LLC purchased a new position in shares of Terreno Realty during the third quarter worth $255,000. Finally, KBC Group NV raised its holdings in shares of Terreno Realty by 40.7% during the fourth quarter. KBC Group NV now owns 3,662 shares of the real estate investment trust’s stock worth $217,000 after purchasing an additional 1,059 shares during the last quarter.

Terreno Realty Price Performance

Shares of NYSE TRNO opened at $53.40 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a fifty day moving average of $65.55 and a 200 day moving average of $63.20. The firm has a market cap of $5.50 billion, a PE ratio of 27.81, a PEG ratio of 2.82 and a beta of 1.00. Terreno Realty Co. has a one year low of $52.28 and a one year high of $71.63.

Terreno Realty (NYSE:TRNO) last released 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 company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were given a $0.49 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 3.67%. Terreno Realty’s dividend payout ratio (DPR) is presently 102.08%.

Analyst Ratings Changes

TRNO has been the topic of several analyst reports. BMO Capital Markets increased their price target 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. JMP Securities reaffirmed a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a report on Monday, February 10th. Piper Sandler downgraded Terreno Realty from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $78.00 to $61.00 in a report on Monday. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. Finally, Barclays decreased their target price on shares of Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $66.55.

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.