Terreno Realty Corporation $TRNO Stock: Boston Trust Walden Corp Cuts Holdings

Key Points

• Boston Trust Walden cut its Terreno Realty stake by 4.9% in the third quarter, selling 18,298 shares and retaining 355,397 shares valued at about $22.9 million.
• Terreno Realty beat quarterly estimates, reporting EPS of $0.62 versus $0.45 expected and revenue of $132.23 million versus $128.72 million expected.
• Analysts’ consensus rating was “Moderate Buy,” with a $73.50 average price target. The company also declared a quarterly dividend of $0.57 per share, equivalent to a 3.4% annualized yield.

Boston Trust Walden Corp reduced its holdings in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 355,397 shares of the real estate investment trust's stock after selling 18,298 shares during the period. Boston Trust Walden Corp owned about 0.33% of Terreno Realty worth $22,941,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Covestor Ltd increased its position in Terreno Realty by 7.5% during the third quarter. Covestor Ltd now owns 2,425 shares of the real estate investment trust's stock worth $157,000 after buying an additional 169 shares during the last quarter. Provenance Wealth Advisors LLC bought a new stake in Terreno Realty during the third quarter worth approximately $43,000. Oregon Public Employees Retirement Fund grew its holdings in Terreno Realty by 1.2% during the third quarter. Oregon Public Employees Retirement Fund now owns 24,426 shares of the real estate investment trust's stock valued at $1,577,000 after purchasing an additional 300 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Terreno Realty by 29.5% in the third quarter. ProShare Advisors LLC now owns 149,308 shares of the real estate investment trust's stock worth $9,638,000 after buying an additional 34,054 shares during the last quarter. Finally, Vise Technologies Inc. boosted its holdings in shares of Terreno Realty by 25.4% during the 3rd quarter. Vise Technologies Inc. now owns 10,278 shares of the real estate investment trust's stock worth $663,000 after buying an additional 2,082 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Cantor Fitzgerald increased their target price on Terreno Realty from $75.00 to $77.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. Weiss Ratings downgraded shares of Terreno Realty from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, September 3rd. Citigroup reiterated a "market outperform" rating on shares of Terreno Realty in a research note on Wednesday, October 7th. The Goldman Sachs Group upped their price target on Terreno Realty from $75.00 to $85.00 and gave the company a "buy" rating in a report on Friday, July 24th. Finally, Mizuho upped their price target on Terreno Realty from $56.00 to $60.00 and gave the company an "underperform" rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $73.50.

Insiders Place Their Bets

In related news, EVP John Meyer sold 4,447 shares of Terreno Realty stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total value of $305,242.08. Following the transaction, the executive vice president directly owned 131,825 shares of the company's stock, valued at $9,048,468. This trade represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is owned by corporate insiders.

Terreno Realty Price Performance

TRNO opened at $67.03 on Friday. The company has a fifty day simple moving average of $65.52 and a 200 day simple moving average of $65.87. Terreno Realty Corporation has a 12 month low of $57.95 and a 12 month high of $78.94. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22. The stock has a market cap of $7.30 billion, a P/E ratio of 23.20 and a beta of 0.98.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.17. Terreno Realty had a net margin of 68.05% and a return on equity of 8.23%. The company had revenue of $132.23 million during the quarter, compared to the consensus estimate of $128.72 million. On average, research analysts expect that Terreno Realty Corporation will post 2.84 EPS for the current year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Tuesday, December 15th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $2.28 annualized dividend and a yield of 3.4%. Terreno Realty's payout ratio is currently 61.13%.

Terreno Realty Company Profile

Terreno Realty Corporation is a real estate investment trust that owns, operates, and invests in industrial properties. The company primarily targets functional, well-located properties serving distribution, logistics, and other industrial uses in densely populated coastal markets.

Terreno's portfolio generally includes warehouse, transshipment, and industrial-flex properties, as well as improved land and other assets that support industrial operations. Its activities include acquiring properties, leasing available space to tenants, and managing, developing, and redeveloping properties to enhance their utility and value.

The company focuses on major U.S.

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