Illinois Municipal Retirement Fund Invests $3.20 Million in Terreno Realty Corporation (NYSE:TRNO)

Illinois Municipal Retirement Fund acquired a new position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,655 shares of the real estate investment trust's stock, valued at approximately $3,202,000.

Several other large investors also recently modified their holdings of TRNO. Vanguard Group Inc. raised its holdings in Terreno Realty by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust's stock worth $902,293,000 after buying an additional 1,484,301 shares during the last quarter. FMR LLC lifted its stake in shares of Terreno Realty by 5.9% during the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust's stock valued at $663,987,000 after buying an additional 628,116 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Terreno Realty by 4.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,145,502 shares of the real estate investment trust's stock valued at $304,305,000 after purchasing an additional 210,696 shares in the last quarter. Geode Capital Management LLC increased its holdings in Terreno Realty by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust's stock worth $144,031,000 after acquiring an additional 19,900 shares during the period. Finally, Northern Trust Corp raised its stake in Terreno Realty by 51.6% in the fourth quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust's stock valued at $109,150,000 after purchasing an additional 628,065 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on TRNO shares. Scotiabank lowered their price objective on shares of Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating for the company in a research note on Monday, April 7th. Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Barclays cut their price target on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 27th. Piper Sandler lowered their target price on Terreno Realty from $61.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their price target on Terreno Realty from $67.00 to $63.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $65.00.

Terreno Realty Stock Performance

Terreno Realty stock traded down $0.02 during trading hours on Wednesday, reaching $56.53. 1,262,513 shares of the stock were exchanged, compared to its average volume of 944,764. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.35 and a current ratio of 2.35. Terreno Realty Corporation has a 52-week low of $48.18 and a 52-week high of $71.63. The stock has a market cap of $5.84 billion, a P/E ratio of 28.46, a P/E/G ratio of 2.39 and a beta of 1.06. The firm's 50 day moving average is $57.37 and its 200 day moving average is $60.65.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.47%. Terreno Realty's payout ratio is currently 98.49%.

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.