Tandem Investment Advisors Inc. Has $74.13 Million Position in Terreno Realty Corporation $TRNO

Key Points

• Tandem Investment Advisors reduced its Terreno Realty stake by 12% in the first quarter, but still held 1.21 million shares valued at about $74.1 million, making TRNO its 13th-largest position.
• Terreno Realty recently beat earnings expectations, reporting $0.66 per share versus the $0.30 estimate, while revenue came in slightly above forecasts at $124.44 million.
• The company paid a quarterly dividend of $0.52 per share and currently offers an annualized yield of 2.8%; analysts rate the stock Moderate Buy with an average price target of $69.86.

Tandem Investment Advisors Inc. trimmed its holdings in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 12.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,206,993 shares of the real estate investment trust's stock after selling 164,874 shares during the quarter. Terreno Realty comprises about 3.6% of Tandem Investment Advisors Inc.'s portfolio, making the stock its 13th biggest position. Tandem Investment Advisors Inc. owned approximately 1.14% of Terreno Realty worth $74,134,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Terreno Realty by 246.6% in the first quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust's stock worth $257,257,000 after purchasing an additional 2,979,982 shares in the last quarter. Norges Bank acquired a new position in shares of Terreno Realty during the 4th quarter valued at $168,221,000. Balyasny Asset Management L.P. boosted its stake in Terreno Realty by 529.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 407,497 shares of the real estate investment trust's stock worth $23,924,000 after acquiring an additional 342,740 shares in the last quarter. UBS Group AG boosted its stake in Terreno Realty by 108.1% during the third quarter. UBS Group AG now owns 599,894 shares of the real estate investment trust's stock worth $34,044,000 after acquiring an additional 311,559 shares in the last quarter. Finally, Adelante Capital Management LLC acquired a new stake in Terreno Realty in the third quarter worth $16,070,000.

Terreno Realty Stock Down 0.1%

Shares of NYSE TRNO opened at $74.99 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50-day moving average price of $66.60 and a 200-day moving average price of $64.45. The stock has a market capitalization of $7.97 billion, a P/E ratio of 18.34 and a beta of 1.05. Terreno Realty Corporation has a 1 year low of $53.00 and a 1 year high of $78.94.

Terreno Realty (NYSE:TRNO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.36. The business had revenue of $124.44 million for the quarter, compared to analysts' expectations of $122.60 million. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. On average, equities research analysts forecast that Terreno Realty Corporation will post 2.81 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.08 annualized dividend and a dividend yield of 2.8%. Terreno Realty's payout ratio is presently 50.86%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Terreno Realty from $68.00 to $64.00 and set an "equal weight" rating on the stock in a report on Monday, June 1st. Barclays boosted their target price on Terreno Realty from $60.00 to $69.00 and gave the company an "equal weight" rating in a research report on Thursday. KeyCorp reaffirmed an "overweight" rating on shares of Terreno Realty in a research note on Tuesday, June 23rd. Scotiabank cut their price target on Terreno Realty from $70.00 to $68.00 and set a "sector outperform" rating on the stock in a report on Thursday, June 18th. Finally, Robert W. Baird set a $69.00 price objective on Terreno Realty in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $69.86.

About Terreno Realty

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.