Jennison Associates LLC Invests $1.73 Million in Terreno Realty Corporation $TRNO

Key Points

• Jennison Associates opened a new position in Terreno Realty (TRNO) in Q4, buying 29,462 shares valued at about $1.73 million, joining other institutions like UBS, State Street and SG Americas that materially increased their stakes.
• Analyst sentiment is broadly positive with an average rating of "Moderate Buy" and an average target of $69.36; Terreno recently beat Q4 EPS estimates ($1.53 vs. $0.85) and pays a $2.08 annual dividend (≈3.2% yield).

Jennison Associates LLC acquired a new position in Terreno Realty Corporation (NYSE:TRNO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,462 shares of the real estate investment trust's stock, valued at approximately $1,730,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRNO. UBS Group AG increased its stake in shares of Terreno Realty by 108.1% in the third quarter. UBS Group AG now owns 599,894 shares of the real estate investment trust's stock worth $34,044,000 after purchasing an additional 311,559 shares in the last quarter. Adelante Capital Management LLC purchased a new stake in shares of Terreno Realty in the third quarter worth $16,070,000. State Street Corp increased its stake in shares of Terreno Realty by 4.0% in the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust's stock worth $336,139,000 after purchasing an additional 230,444 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Terreno Realty by 273.8% in the fourth quarter. SG Americas Securities LLC now owns 300,848 shares of the real estate investment trust's stock worth $17,663,000 after purchasing an additional 220,365 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Terreno Realty by 31.3% during the second quarter. Bank of America Corp DE now owns 812,348 shares of the real estate investment trust's stock valued at $45,548,000 after acquiring an additional 193,555 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citizens Jmp raised their target price on shares of Terreno Realty from $66.00 to $70.00 and gave the company a "market outperform" rating in a research note on Friday, February 6th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Terreno Realty in a research note on Tuesday, April 21st. KeyCorp raised their target price on shares of Terreno Realty from $68.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, February 9th. Piper Sandler raised their target price 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. Finally, UBS Group set a $72.00 target price on shares of Terreno Realty in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Terreno Realty presently has an average rating of "Moderate Buy" and an average target price of $69.36.

Terreno Realty Stock Performance

TRNO opened at $65.24 on Monday. Terreno Realty Corporation has a fifty-two week low of $53.00 and a fifty-two week high of $67.55. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 16.73 and a beta of 1.06. The company has a fifty day moving average of $64.00 and a 200 day moving average of $62.30. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32.

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

Terreno Realty Dividend Announcement

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

Terreno Realty Company 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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