Terreno Realty Corporation $TRNO Shares Bought by Phocas Financial Corp.

Key Points

• Phocas Financial Corp. increased its stake in Terreno Realty by 53.8%, buying an additional 63,122 shares to hold 180,452 shares worth about $10.59 million, making TRNO its 20th-largest holding (roughly 1.4% of Phocas's portfolio).
• Terreno beat expectations in the most recent quarter with $1.53 EPS vs. $0.85 consensus and revenue of $137.48 million vs. $124.72 million, reporting a net margin of 84.51% and a 10.08% return on equity.
• The company declared a quarterly dividend of $0.52 per share (annualized $2.08, yield 3.3%, ex-dividend March 27), while analysts rate TRNO a "Moderate Buy" on average with a $69.36 price target.

Phocas Financial Corp. lifted its position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 53.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,452 shares of the real estate investment trust's stock after buying an additional 63,122 shares during the period. Terreno Realty makes up about 1.4% of Phocas Financial Corp.'s holdings, making the stock its 20th biggest holding. Phocas Financial Corp. owned 0.17% of Terreno Realty worth $10,594,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TRNO. Fifth Third Wealth Advisors LLC grew its position in Terreno Realty by 38.6% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 11,320 shares of the real estate investment trust's stock valued at $665,000 after acquiring an additional 3,155 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Terreno Realty by 2.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 403,367 shares of the real estate investment trust's stock worth $23,807,000 after purchasing an additional 10,936 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Terreno Realty by 22.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,351 shares of the real estate investment trust's stock valued at $138,000 after purchasing an additional 425 shares in the last quarter. Moody National Bank Trust Division grew its holdings in shares of Terreno Realty by 3.4% during the 4th quarter. Moody National Bank Trust Division now owns 10,316 shares of the real estate investment trust's stock worth $606,000 after purchasing an additional 339 shares during the period. Finally, Congress Asset Management Co. grew its holdings in shares of Terreno Realty by 3.8% during the 4th quarter. Congress Asset Management Co. now owns 566,448 shares of the real estate investment trust's stock worth $33,256,000 after purchasing an additional 20,890 shares during the period.

Terreno Realty Stock Performance

Terreno Realty stock opened at $62.16 on Monday. The firm has a market capitalization of $6.61 billion, a PE ratio of 15.94 and a beta of 1.12. Terreno Realty Corporation has a one year low of $48.18 and a one year high of $66.74. The stock's 50 day moving average price is $63.45 and its 200 day moving average price is $61.26. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.68. Terreno Realty had a net margin of 84.51% and a return on equity of 10.08%. The company had revenue of $137.48 million during the quarter, compared to the consensus estimate of $124.72 million. As a group, sell-side analysts expect that Terreno Realty Corporation will post 2.64 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.08 annualized dividend and a yield of 3.3%. Terreno Realty's payout ratio is 53.33%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Robert W. Baird set a $67.00 price target on shares of Terreno Realty in a report on Wednesday, February 11th. Citizens Jmp boosted their price objective on shares of Terreno Realty from $66.00 to $70.00 and gave the stock a "market outperform" rating in a research note on Friday, February 6th. KeyCorp increased their price objective on shares of Terreno Realty from $68.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, February 9th. Barclays reissued a "positive" rating and issued a $60.00 target price on shares of Terreno Realty in a research note on Tuesday, January 13th. Finally, Weiss Ratings upgraded shares of Terreno Realty from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $69.36.

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.

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