Terreno Realty Corporation $TRNO Shares Sold by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL cut its stake in Terreno Realty by 44.6%, selling 31,334 shares and leaving 38,967 shares valued at about $2.21 million at quarter-end.
• Other institutions were net buyers or initiators of positions—UBS more than doubled its stake to ~599,894 shares (~$34.0M), Boston Trust Walden and Adelante opened large new positions (~$27M and ~$16M), Hudson Bay increased holdings sharply, and State Street holds ~5.94M shares (~$336.1M).
• Terreno beat quarterly estimates with EPS $1.53 vs $0.85 and revenue $137.5M, trades around $65.35 with a $6.94B market cap, pays a $0.52 quarterly dividend (annual yield ~3.2%), and carries a consensus "Moderate Buy" price target of $69.36.

Tudor Investment Corp ET AL lessened its stake in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 44.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,967 shares of the real estate investment trust's stock after selling 31,334 shares during the quarter. Tudor Investment Corp ET AL's holdings in Terreno Realty were worth $2,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TRNO. Boston Trust Walden Corp acquired a new position in shares of Terreno Realty during the third quarter valued at approximately $26,957,000. UBS Group AG grew its position in 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 buying an additional 311,559 shares during the last quarter. Hudson Bay Capital Management LP grew its position in Terreno Realty by 359.3% in the second quarter. Hudson Bay Capital Management LP now owns 390,919 shares of the real estate investment trust's stock worth $21,919,000 after buying an additional 305,806 shares during the last quarter. Adelante Capital Management LLC acquired a new position in Terreno Realty in the third quarter worth approximately $16,070,000. Finally, State Street Corp grew its position in 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 buying an additional 230,444 shares during the last quarter.

Terreno Realty Trading Up 0.1%

NYSE TRNO opened at $65.35 on Friday. Terreno Realty Corporation has a twelve month low of $52.30 and a twelve month high of $66.74. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 16.76 and a beta of 1.12. The firm's 50 day moving average price is $63.75 and its two-hundred day moving average price is $61.44.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The real estate investment trust reported $1.53 earnings per share for the quarter, topping 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 firm had revenue of $137.48 million for the quarter, compared to analysts' expectations of $124.72 million. Equities analysts anticipate that Terreno Realty Corporation will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were given a dividend of $0.52 per share. 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%.

Analysts Set New Price Targets

Several research analysts have issued reports on TRNO shares. UBS Group set a $72.00 price target on shares of Terreno Realty in a research report on Monday, February 9th. Piper Sandler lifted their price target on shares of Terreno Realty from $75.00 to $79.00 and gave the stock an "overweight" rating in a research report on Monday, February 9th. Cantor Fitzgerald lifted their price target on shares of Terreno Realty from $67.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, February 6th. Citizens Jmp lifted their price target on shares of Terreno Realty from $66.00 to $70.00 and gave the stock a "market outperform" rating in a research report on Friday, February 6th. Finally, KeyCorp lifted their price target 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. One research 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, Terreno Realty currently has an average rating of "Moderate Buy" and a consensus price target of $69.36.

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.

Want to see what other hedge funds are holding TRNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terreno Realty Corporation (NYSE:TRNO - Free Report).

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.