Peregrine Capital Management LLC Makes New $6.20 Million Investment in Terreno Realty Co. (NYSE:TRNO)

Peregrine Capital Management LLC acquired a new stake in shares of Terreno Realty Co. (NYSE:TRNO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 104,885 shares of the real estate investment trust’s stock, valued at approximately $6,203,000. Peregrine Capital Management LLC owned approximately 0.11% of Terreno Realty as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Terreno Realty during the 3rd quarter valued at approximately $26,000. Assetmark Inc. grew its holdings in shares of Terreno Realty by 2,381.3% in the third quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 381 shares in the last quarter. Manchester Capital Management LLC bought a new stake in Terreno Realty in the fourth quarter worth $27,000. International Assets Investment Management LLC raised its stake in Terreno Realty by 6,580.0% during the third quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 987 shares in the last quarter. Finally, Huntington National Bank lifted its position in Terreno Realty by 7.4% during the third quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 177 shares during the last quarter.

Terreno Realty Trading Up 0.6 %

Shares of TRNO opened at $67.14 on Wednesday. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 2.81 and a beta of 0.91. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. Terreno Realty Co. has a 1-year low of $53.78 and a 1-year high of $71.63. The company has a 50-day moving average of $62.31 and a 200 day moving average of $63.99.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. On average, research analysts expect that Terreno Realty Co. will post 2.64 EPS 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 given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s payout ratio is 102.08%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a report on Monday, February 10th. Piper Sandler decreased their price objective 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. Barclays reaffirmed an “equal weight” rating and issued a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Scotiabank cut their target price on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Terreno Realty has a consensus rating of “Hold” and a consensus target price of $68.45.

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.