Renaissance Technologies LLC Makes New Investment in Terreno Realty Co. (NYSE:TRNO)

Renaissance Technologies LLC purchased a new stake in shares of Terreno Realty Co. (NYSE:TRNO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,700 shares of the real estate investment trust's stock, valued at approximately $1,047,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FIL Ltd lifted its holdings in shares of Terreno Realty by 45.3% in the fourth quarter. FIL Ltd now owns 1,213 shares of the real estate investment trust's stock valued at $72,000 after buying an additional 378 shares during the period. Shelton Capital Management acquired a new stake in Terreno Realty in the 4th quarter valued at about $230,000. Legal & General Group Plc lifted its holdings in Terreno Realty by 14.4% in the 4th quarter. Legal & General Group Plc now owns 953,775 shares of the real estate investment trust's stock valued at $56,406,000 after acquiring an additional 119,865 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Terreno Realty by 74.1% during the 4th quarter. Bank of Montreal Can now owns 25,885 shares of the real estate investment trust's stock valued at $1,531,000 after purchasing an additional 11,016 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Terreno Realty by 5.9% in the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust's stock worth $663,987,000 after purchasing an additional 628,116 shares during the last quarter.

Terreno Realty Stock Down 1.1 %

NYSE TRNO traded down $0.60 during trading on Tuesday, reaching $56.30. The company's stock had a trading volume of 838,419 shares, compared to its average volume of 909,767. The business has a 50-day moving average price of $60.62 and a 200-day moving average price of $61.68. Terreno Realty Co. has a 1-year low of $48.18 and a 1-year high of $71.63. The stock has a market capitalization of $5.80 billion, a PE ratio of 29.32, a PEG ratio of 2.82 and a beta of 1.07. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. On average, research analysts forecast that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Thursday, March 27th were issued a $0.49 dividend. The ex-dividend date was Thursday, March 27th. This represents a $1.96 annualized dividend and a yield of 3.48%. Terreno Realty's dividend payout ratio (DPR) is currently 102.08%.

Analyst Ratings Changes

A number of analysts recently weighed in on TRNO shares. The Goldman Sachs Group upgraded shares of Terreno Realty from a "neutral" rating to a "buy" rating and raised their target price for the stock from $65.00 to $77.00 in a report on Friday, February 21st. Scotiabank cut their target price on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating on the stock in a research report on Monday, April 7th. Piper Sandler decreased their price target on Terreno Realty from $61.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. JMP Securities reissued a "market outperform" rating and issued a $72.00 price target on shares of Terreno Realty in a research note on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They set a "hold" rating and a $60.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $66.45.

Terreno Realty Profile

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.