Alberta Investment Management Corp Acquires 9,107 Shares of Terreno Realty Corporation (NYSE:TRNO)

Key Points

• Alberta Investment Management Corp increased its holdings in Terreno Realty by 27.7%, now owning 41,989 shares worth approximately $2.65 million.
• Terreno Realty recently announced a quarterly dividend of $0.49 per share, representing an annualized dividend of $1.96 and a yield of 3.6%.
• The stock has experienced a moderate decline of 2.3% recently, with current price targets varying, ranging from $56.00 to $72.00 from different analysts.

Alberta Investment Management Corp grew its holdings in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 27.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,989 shares of the real estate investment trust's stock after buying an additional 9,107 shares during the period. Alberta Investment Management Corp's holdings in Terreno Realty were worth $2,655,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Howland Capital Management LLC boosted its stake in Terreno Realty by 1.5% in the 1st quarter. Howland Capital Management LLC now owns 124,185 shares of the real estate investment trust's stock worth $7,901,000 after purchasing an additional 1,841 shares in the last quarter. Natixis Advisors LLC boosted its stake in Terreno Realty by 53.3% in the 1st quarter. Natixis Advisors LLC now owns 20,459 shares of the real estate investment trust's stock worth $1,293,000 after purchasing an additional 7,112 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Terreno Realty by 271.4% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 4,772 shares of the real estate investment trust's stock worth $301,000 after purchasing an additional 3,487 shares in the last quarter. Federated Hermes Inc. boosted its stake in Terreno Realty by 1,260.5% in the 1st quarter. Federated Hermes Inc. now owns 4,000 shares of the real estate investment trust's stock worth $253,000 after purchasing an additional 3,706 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Terreno Realty by 0.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,057 shares of the real estate investment trust's stock worth $4,050,000 after purchasing an additional 250 shares in the last quarter.

Terreno Realty Stock Down 2.3%

NYSE TRNO opened at $54.19 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market capitalization of $5.60 billion, a P/E ratio of 27.23, a P/E/G ratio of 2.32 and a beta of 1.02. Terreno Realty Corporation has a one year low of $48.18 and a one year high of $71.63. The stock has a 50 day moving average price of $57.22 and a 200-day moving average price of $60.26.

Terreno Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, June 27th. Terreno Realty's dividend payout ratio is currently 98.49%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TRNO shares. Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. 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, April 15th. Scotiabank dropped their price target on 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. Wells Fargo & Company set a $72.00 price target on Terreno Realty in a research note on Sunday, July 13th. Finally, Barclays dropped 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $65.90.

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.

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