abrdn plc Decreases Stock Position in Terreno Realty Co. (NYSE:TRNO)

abrdn plc lowered its holdings in Terreno Realty Co. (NYSE:TRNO - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 417,031 shares of the real estate investment trust's stock after selling 37,239 shares during the quarter. abrdn plc owned about 0.49% of Terreno Realty worth $26,135,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Ronald Blue Trust Inc. lifted its stake in shares of Terreno Realty by 93.9% during the third quarter. Ronald Blue Trust Inc. now owns 537 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 260 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Terreno Realty during the fourth quarter valued at $35,000. Blue Trust Inc. lifted its stake in shares of Terreno Realty by 84.2% during the fourth quarter. Blue Trust Inc. now owns 989 shares of the real estate investment trust's stock valued at $62,000 after acquiring an additional 452 shares during the period. Dfpg Investments LLC acquired a new position in shares of Terreno Realty during the fourth quarter valued at $200,000. Finally, Covestor Ltd lifted its stake in shares of Terreno Realty by 16.9% during the third quarter. Covestor Ltd now owns 3,561 shares of the real estate investment trust's stock valued at $202,000 after acquiring an additional 514 shares during the period.

Terreno Realty Trading Down 2.1 %

Shares of Terreno Realty stock traded down $1.20 during trading hours on Wednesday, hitting $55.31. The company's stock had a trading volume of 551,384 shares, compared to its average volume of 712,562. Terreno Realty Co. has a 12 month low of $50.42 and a 12 month high of $66.63. The stock has a 50 day moving average of $62.58 and a 200 day moving average of $60.05. The company has a market capitalization of $5.34 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 2.53 and a beta of 0.81. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.68 and a quick ratio of 2.68.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.10. The business had revenue of $86.48 million during the quarter, compared to the consensus estimate of $84.06 million. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. Analysts predict that Terreno Realty Co. will post 2.42 earnings per share for the current year.

Terreno Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 28th were issued a dividend of $0.45 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.25%. Terreno Realty's payout ratio is presently 99.45%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TRNO. Barclays began coverage on Terreno Realty in a research note on Wednesday, March 27th. They set an "overweight" rating and a $71.00 price target on the stock. The Goldman Sachs Group increased their target price on Terreno Realty from $60.00 to $66.00 and gave the company a "neutral" rating in a research note on Thursday, January 11th. StockNews.com raised Terreno Realty from a "sell" rating to a "hold" rating in a research note on Saturday, March 23rd. JMP Securities reissued a "market outperform" rating and issued a $65.00 target price on shares of Terreno Realty in a research note on Thursday, March 28th. Finally, Piper Sandler increased their target price on Terreno Realty from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Friday, March 22nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Terreno Realty has a consensus rating of "Hold" and a consensus target price of $67.11.

About Terreno Realty

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.