Terreno Realty Corporation $TRNO Stock Position Increased by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its Terreno Realty stake by 7.2% in the fourth quarter, bringing its holdings to 1,208,471 shares valued at about $70.95 million.
• Terreno Realty reported better-than-expected first-quarter results, with EPS of $0.66 versus estimates of $0.30 and revenue of $124.44 million, slightly above forecasts.
• The company announced a quarterly dividend of $0.52 per share, payable July 10, representing a 3.1% annualized yield and a 53.33% payout ratio.

Principal Financial Group Inc. grew its position in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,208,471 shares of the real estate investment trust's stock after purchasing an additional 81,444 shares during the period. Principal Financial Group Inc. owned approximately 1.17% of Terreno Realty worth $70,950,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in shares of Terreno Realty by 90.2% during the first quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 378 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 350 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Terreno Realty by 73.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 189 shares during the period. First Trust Advisors LP grew its stake in shares of Terreno Realty by 78.9% in the second quarter. First Trust Advisors LP now owns 52,473 shares of the real estate investment trust's stock worth $2,942,000 after purchasing an additional 23,135 shares in the last quarter. Finally, Amundi grew its stake in shares of Terreno Realty by 18.6% in the second quarter. Amundi now owns 67,020 shares of the real estate investment trust's stock worth $3,799,000 after purchasing an additional 10,525 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TRNO. Barclays restated a "positive" rating and set a $60.00 price objective on shares of Terreno Realty in a research note on Tuesday, January 13th. Royal Bank Of Canada set a $72.00 price target on shares of Terreno Realty in a research report on Monday, February 9th. Scotiabank upped their price target on shares of Terreno Realty from $67.00 to $69.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 14th. Weiss Ratings upgraded shares of Terreno Realty from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. Finally, Cantor Fitzgerald raised their price objective on shares of Terreno Realty from $67.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Terreno Realty has an average rating of "Moderate Buy" and a consensus target price of $69.36.

Terreno Realty Price Performance

Shares of NYSE TRNO opened at $66.56 on Friday. Terreno Realty Corporation has a twelve month low of $53.00 and a twelve month high of $67.55. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average of $64.01 and a two-hundred day moving average of $62.42. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 17.07 and a beta of 1.06.

Terreno Realty (NYSE:TRNO - Get Free Report) last released its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.36. Terreno Realty had a net margin of 84.51% and a return on equity of 10.08%. The business had revenue of $124.44 million for the quarter, compared to the consensus estimate of $122.37 million. As a group, analysts expect that Terreno Realty Corporation will post 2.79 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, June 26th. Terreno Realty's dividend payout ratio is 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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