Asset Management One Co. Ltd. increased its position in shares of Terreno Realty Corporation (NYSE:TRNO) by 41.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,676 shares of the real estate investment trust’s stock after buying an additional 42,607 shares during the period. Asset Management One Co. Ltd. owned about 0.31% of Terreno Realty Corporation worth $4,042,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of TRNO. Daiwa Securities Group Inc. increased its stake in Terreno Realty Corporation by 37.0% in the first quarter. Daiwa Securities Group Inc. now owns 3,700 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 1,000 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Terreno Realty Corporation during the first quarter valued at $109,000. New Mexico Educational Retirement Board increased its stake in Terreno Realty Corporation by 11.9% in the first quarter. New Mexico Educational Retirement Board now owns 6,600 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 700 shares during the last quarter. Teza Capital Management LLC purchased a new stake in Terreno Realty Corporation during the fourth quarter valued at $228,000. Finally, Bank of Montreal Can increased its stake in Terreno Realty Corporation by 170.9% in the first quarter. Bank of Montreal Can now owns 9,290 shares of the real estate investment trust’s stock valued at $261,000 after buying an additional 5,861 shares during the last quarter.
Terreno Realty Corporation (NYSE:TRNO) traded down 0.46% during midday trading on Tuesday, reaching $32.47. The company’s stock had a trading volume of 72,309 shares. Terreno Realty Corporation has a 12-month low of $24.38 and a 12-month high of $34.00. The stock’s 50 day moving average is $32.40 and its 200 day moving average is $29.19. The stock has a market cap of $1.60 billion, a P/E ratio of 151.02 and a beta of 0.84.
Terreno Realty Corporation (NYSE:TRNO) last released its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.17. Terreno Realty Corporation had a return on equity of 1.64% and a net margin of 11.02%. The firm had revenue of $31.44 million for the quarter, compared to the consensus estimate of $30.76 million. Analysts anticipate that Terreno Realty Corporation will post $0.50 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Friday, July 7th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Wednesday, July 5th.
A number of equities analysts have commented on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $29.00 target price on shares of Terreno Realty Corporation in a report on Monday, April 17th. Zacks Investment Research upgraded shares of Terreno Realty Corporation from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. Stifel Nicolaus boosted their target price on shares of Terreno Realty Corporation from $29.00 to $34.50 and gave the stock a “buy” rating in a report on Friday, May 5th. Wunderlich upped their price objective on shares of Terreno Realty Corporation from $31.00 to $34.00 and gave the company a “buy” rating in a report on Monday, May 8th. Finally, National Securities downgraded shares of Terreno Realty Corporation from a “buy” rating to a “neutral” rating and upped their price objective for the company from $29.00 to $33.00 in a report on Thursday, May 11th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $30.39.
About Terreno Realty Corporation
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
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