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

Renaissance Technologies LLC purchased a new position in Terreno Realty Co. (NYSE:TRNO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the 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 added to or reduced their stakes in the stock. Manchester Capital Management LLC acquired a new position in Terreno Realty during the 4th quarter worth $27,000. Steward Partners Investment Advisory LLC grew its position in Terreno Realty by 176.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 361 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Terreno Realty by 94.6% during the 4th quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 370 shares during the period. FIL Ltd raised its position in shares of Terreno Realty by 45.3% during the 4th quarter. FIL Ltd now owns 1,213 shares of the real estate investment trust's stock worth $72,000 after buying an additional 378 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Terreno Realty in the 4th quarter worth approximately $76,000.

Analysts Set New Price Targets

A number of research firms have weighed in on TRNO. Piper Sandler cut their target price 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They issued a "hold" rating and a $60.00 price target on the stock. Scotiabank reduced their price objective on shares of Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating for the company in a research report on Monday, April 7th. BMO Capital Markets boosted their target price on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a "market perform" rating in a report on Wednesday, February 12th. Finally, JMP Securities restated a "market outperform" rating and set a $72.00 target price on shares of Terreno Realty in a report on Monday, February 10th. Two equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $66.45.

Terreno Realty Stock Up 1.8 %

Shares of NYSE:TRNO traded up $1.00 during midday trading on Friday, hitting $57.62. 751,754 shares of the stock were exchanged, compared to its average volume of 908,563. The company has a market capitalization of $5.94 billion, a PE ratio of 30.01, a P/E/G ratio of 2.82 and a beta of 1.07. Terreno Realty Co. has a 52-week low of $48.18 and a 52-week high of $71.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. The business's fifty day simple moving average is $61.05 and its two-hundred day simple moving average is $61.82.

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

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were issued a dividend of $0.49 per share. The ex-dividend date was Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.40%. Terreno Realty's dividend payout ratio is currently 102.08%.

Terreno Realty Company 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.