Legal & General Group Plc Increases Position in Terreno Realty Co. (NYSE:TRNO)

Legal & General Group Plc grew its holdings in Terreno Realty Co. (NYSE:TRNO) by 14.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 953,775 shares of the real estate investment trust’s stock after purchasing an additional 119,865 shares during the quarter. Legal & General Group Plc’s holdings in Terreno Realty were worth $56,406,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Verition Fund Management LLC purchased a new stake in shares of Terreno Realty in the third quarter valued at about $225,000. HighTower Advisors LLC purchased a new position in shares of Terreno Realty during the third quarter worth $255,000. Stifel Financial Corp grew its position in Terreno Realty by 39.3% in the 3rd 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. Orion Portfolio Solutions LLC lifted its holdings in Terreno Realty by 10.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 9,389 shares of the real estate investment trust’s stock worth $627,000 after buying an additional 903 shares in the last quarter. Finally, MML Investors Services LLC boosted its holdings in Terreno Realty by 6.1% in the third quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 249 shares during the period.

Terreno Realty Trading Up 1.1 %

Shares of TRNO opened at $54.56 on Friday. Terreno Realty Co. has a 1-year low of $48.18 and a 1-year high of $71.63. 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 has a 50 day simple moving average of $64.12 and a 200-day simple moving average of $62.66. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share 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 fiscal year.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were issued a dividend of $0.49 per share. The ex-dividend date was Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.59%. Terreno Realty’s dividend payout ratio (DPR) is presently 102.08%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $77.00 in a report on Friday, February 21st. Barclays cut their price objective on shares of Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 25th. Scotiabank cut their price target on shares of Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Monday, April 7th. Deutsche Bank Aktiengesellschaft started 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. Finally, Piper Sandler cut Terreno Realty from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $78.00 to $61.00 in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $66.55.

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.