Crestline Management LP Invests $3.53 Million in Terreno Realty Co. (NYSE:TRNO)

Crestline Management LP purchased a new position in Terreno Realty Co. (NYSE:TRNO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 59,707 shares of the real estate investment trust's stock, valued at approximately $3,531,000. Crestline Management LP owned about 0.06% of Terreno Realty at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Terreno Realty by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust's stock valued at $902,293,000 after purchasing an additional 1,484,301 shares during the period. Norges Bank purchased a new stake in Terreno Realty in the fourth quarter valued at approximately $58,818,000. FMR LLC increased its holdings in Terreno Realty by 5.9% in the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust's stock worth $663,987,000 after buying an additional 628,116 shares during the period. Northern Trust Corp raised its position in Terreno Realty by 51.6% during the 4th quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust's stock worth $109,150,000 after buying an additional 628,065 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Terreno Realty by 280.3% during the 4th quarter. Russell Investments Group Ltd. now owns 520,187 shares of the real estate investment trust's stock valued at $30,764,000 after acquiring an additional 383,400 shares during the period.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They set a "hold" rating and a $60.00 target price for the company. Barclays lowered their target price on Terreno Realty from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 25th. The Goldman Sachs Group upgraded Terreno Realty from a "neutral" rating to a "buy" rating and lifted their price target for the company from $65.00 to $77.00 in a research report on Friday, February 21st. StockNews.com upgraded Terreno Realty from a "sell" rating to a "hold" rating in a research report on Friday. Finally, 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $66.45.

Terreno Realty Price Performance

Shares of TRNO traded up $0.68 during mid-day trading on Friday, hitting $57.13. 1,096,549 shares of the company were exchanged, compared to its average volume of 919,359. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. Terreno Realty Co. has a 1-year low of $48.18 and a 1-year high of $71.63. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 29.76, a price-to-earnings-growth ratio of 2.82 and a beta of 1.07. The company has a 50 day moving average of $59.96 and a 200-day moving average of $61.55.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) 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%. Analysts expect that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.96 annualized dividend and a yield of 3.43%. Terreno Realty's dividend payout ratio (DPR) is presently 102.08%.

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.