Martingale Asset Management L P bought a new stake in Terreno Realty Co. (NYSE:TRNO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,533 shares of the real estate investment trust's stock, valued at approximately $386,000.
Other hedge funds have also modified their holdings of the company. Manchester Capital Management LLC purchased a new position in shares of Terreno Realty during the 4th quarter worth approximately $27,000. Steward Partners Investment Advisory LLC increased its position in Terreno Realty by 176.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust's stock worth $33,000 after buying an additional 361 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Terreno Realty by 94.6% in the 4th quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 370 shares during the last quarter. FIL Ltd lifted its stake in shares of Terreno Realty by 45.3% during the fourth quarter. FIL Ltd now owns 1,213 shares of the real estate investment trust's stock valued at $72,000 after buying an additional 378 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Terreno Realty during the 4th quarter worth $76,000.
Terreno Realty Stock Performance
Shares of NYSE TRNO traded up $0.92 during midday trading on Friday, reaching $57.65. 1,072,632 shares of the company traded hands, compared to its average volume of 900,021. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.82 and a beta of 1.00. The stock has a 50-day moving average price of $63.09 and a 200 day moving average price of $62.34. Terreno Realty Co. has a 52 week low of $48.18 and a 52 week 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.
Terreno Realty (NYSE:TRNO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) 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%. Sell-side analysts anticipate that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.
Terreno Realty Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Thursday, March 27th were paid a dividend of $0.49 per share. The ex-dividend date was Thursday, March 27th. This represents a $1.96 annualized dividend and a yield of 3.40%. Terreno Realty's dividend payout ratio is currently 102.08%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on TRNO. JMP Securities reiterated a "market outperform" rating and set a $72.00 price objective on shares of Terreno Realty in a report on Monday, February 10th. BMO Capital Markets upped their price objective on Terreno Realty from $71.00 to $73.00 and gave the stock a "market perform" rating in a report on Wednesday, February 12th. The Goldman Sachs Group upgraded Terreno Realty from a "neutral" rating to a "buy" rating and lifted their target price for the company from $65.00 to $77.00 in a report on Friday, February 21st. Piper Sandler dropped their price target on Terreno Realty from $61.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, Scotiabank decreased their target price on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating for the company in a report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Terreno Realty currently has a consensus rating of "Hold" and an average target price of $66.45.
Get Our Latest Analysis on TRNO
About Terreno Realty
(
Free Report)
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.
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