Boston Trust Walden Corp Cuts Stake in Terreno Realty Corporation $TRNO

Key Points

• Boston Trust Walden Corp trimmed its stake in Terreno Realty (NYSE:TRNO) by 5.7% in Q4, selling 27,054 shares and leaving it with 447,965 shares valued at about $26.3 million.
• Terreno reported strong quarterly results—EPS of $1.53 versus a consensus of $0.85 and revenue of $137.48M versus $124.72M—and recently paid a $0.52 quarterly dividend (annualized yield ~3.2%).
• Analyst sentiment is generally positive with a MarketBeat consensus of "Moderate Buy" and an average price target of $69.36, while several firms have raised price targets and ratings.

Boston Trust Walden Corp lowered its stake in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 447,965 shares of the real estate investment trust's stock after selling 27,054 shares during the period. Boston Trust Walden Corp owned about 0.43% of Terreno Realty worth $26,300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Terreno Realty by 95.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 106,766 shares of the real estate investment trust's stock worth $6,268,000 after purchasing an additional 52,230 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Terreno Realty by 6.9% during the fourth quarter. Evergreen Capital Management LLC now owns 6,595 shares of the real estate investment trust's stock worth $390,000 after purchasing an additional 423 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Terreno Realty by 4.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,209 shares of the real estate investment trust's stock worth $4,239,000 after purchasing an additional 2,937 shares in the last quarter. First Horizon Corp increased its stake in shares of Terreno Realty by 41.5% during the fourth quarter. First Horizon Corp now owns 651 shares of the real estate investment trust's stock worth $38,000 after purchasing an additional 191 shares in the last quarter. Finally, Moran Wealth Management LLC increased its stake in shares of Terreno Realty by 11.1% during the fourth quarter. Moran Wealth Management LLC now owns 21,317 shares of the real estate investment trust's stock worth $1,252,000 after purchasing an additional 2,127 shares in the last quarter.

Terreno Realty Stock Down 0.4%

Shares of NYSE TRNO opened at $65.98 on Thursday. Terreno Realty Corporation has a 12-month low of $53.00 and a 12-month high of $67.55. The stock has a market cap of $7.01 billion, a PE ratio of 16.92 and a beta of 1.12. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $63.99 and a 200 day moving average of $61.93.

Terreno Realty (NYSE:TRNO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The real estate investment trust reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.68. The company had revenue of $137.48 million during the quarter, compared to analysts' expectations of $124.72 million. Terreno Realty had a net margin of 84.51% and a return on equity of 10.08%. As a group, sell-side analysts predict that Terreno Realty Corporation will post 2.79 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, March 27th. Terreno Realty's payout ratio is presently 53.33%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TRNO. Weiss Ratings raised shares of Terreno Realty from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, January 22nd. Barclays reaffirmed a "positive" rating and set a $60.00 price objective on shares of Terreno Realty in a research note on Tuesday, January 13th. Citigroup upped their price objective on shares of Terreno Realty from $64.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, February 10th. Royal Bank Of Canada set a $72.00 price objective on shares of Terreno Realty in a research note on Monday, February 9th. Finally, Piper Sandler upped their price objective on shares of Terreno Realty from $75.00 to $79.00 and gave the company an "overweight" rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $69.36.

Terreno Realty Profile

Terreno Realty Corporation NYSE: TRNO is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company's portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.

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