T. Rowe Price Investment Management Inc. Acquires 210,696 Shares of Terreno Realty Co. (NYSE:TRNO)

T. Rowe Price Investment Management Inc. lifted its position in Terreno Realty Co. (NYSE:TRNO - Free Report) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,145,502 shares of the real estate investment trust's stock after acquiring an additional 210,696 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 5.16% of Terreno Realty worth $304,305,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRNO. Mariner LLC grew its position in Terreno Realty by 3.7% in the fourth quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust's stock valued at $264,000 after purchasing an additional 161 shares in the last quarter. MML Investors Services LLC grew its stake in shares of Terreno Realty by 6.1% in the third quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust's stock valued at $291,000 after buying an additional 249 shares in the last quarter. First Trust Advisors LP raised its position in Terreno Realty by 0.9% during the fourth quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust's stock worth $1,810,000 after acquiring an additional 271 shares in the last quarter. Arizona State Retirement System grew its position in shares of Terreno Realty by 1.0% in the 4th quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust's stock valued at $1,663,000 after acquiring an additional 276 shares during the period. Finally, Summit Investment Advisors Inc. increased its stake in shares of Terreno Realty by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,994 shares of the real estate investment trust's stock worth $591,000 after purchasing an additional 316 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have weighed in on TRNO shares. Scotiabank lowered their price target 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 dropped their price target on Terreno Realty from $61.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Barclays decreased their price objective on shares of Terreno Realty from $60.00 to $57.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 25th. JMP Securities restated a "market outperform" rating and set a $72.00 target price on shares of Terreno Realty in a research note on Monday, February 10th. Finally, The Goldman Sachs Group upgraded shares of Terreno Realty from a "neutral" rating to a "buy" rating and upped their price target for the company from $65.00 to $77.00 in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Terreno Realty has an average rating of "Hold" and an average price target of $66.45.

Terreno Realty Price Performance

Terreno Realty stock traded down $0.17 during trading hours on Tuesday, reaching $56.71. 307,392 shares of the stock were exchanged, compared to its average volume of 902,499. Terreno Realty Co. has a twelve month low of $48.18 and a twelve month high of $71.63. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average of $61.86 and a two-hundred day moving average of $61.99. The company has a market cap of $5.84 billion, a P/E ratio of 29.49, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating 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%. Equities analysts expect that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The company 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. This represents a $1.96 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 27th. Terreno Realty's dividend payout ratio (DPR) is currently 102.08%.

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.