State of New Jersey Common Pension Fund D Sells 1,322 Shares of Terreno Realty Co. (NYSE:TRNO)

State of New Jersey Common Pension Fund D lowered its position in shares of Terreno Realty Co. (NYSE:TRNO) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 135,908 shares of the real estate investment trust’s stock after selling 1,322 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.16% of Terreno Realty worth $8,517,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TRNO. Exchange Traded Concepts LLC purchased a new position in shares of Terreno Realty in the fourth quarter worth $35,000. Blue Trust Inc. raised its stake in 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 purchasing an additional 452 shares in the last quarter. Dfpg Investments LLC purchased a new stake in Terreno Realty during the fourth quarter valued at $200,000. Covestor Ltd raised its stake in 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 purchasing an additional 514 shares in the last quarter. Finally, Prudent Man Advisors LLC bought a new position in Terreno Realty during the third quarter valued at $204,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wedbush reiterated a “neutral” rating and set a $67.00 price objective on shares of Terreno Realty in a research report on Thursday, March 28th. Scotiabank increased their price objective on shares of Terreno Realty from $64.00 to $66.00 and gave the company a “sector perform” rating in a research report on Monday, February 12th. Piper Sandler increased their price target on shares of Terreno Realty from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Mizuho raised their price objective on shares of Terreno Realty from $52.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Barclays assumed coverage on shares of Terreno Realty in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $71.00 price target on the stock. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.11.

Terreno Realty Stock Performance

NYSE TRNO traded down $0.30 on Friday, reaching $54.13. The stock had a trading volume of 611,222 shares, compared to its average volume of 713,217. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.68 and a current ratio of 2.68. Terreno Realty Co. has a 12-month low of $50.42 and a 12-month high of $66.63. The business’s 50-day moving average price is $62.27 and its 200 day moving average price is $59.98. The stock has a market cap of $5.22 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 2.54 and a beta of 0.81.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. The company had revenue of $86.48 million during the quarter, compared to analysts’ expectations of $84.06 million. As a group, equities analysts expect that Terreno Realty Co. will post 2.42 earnings per share for the current year.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Wednesday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is presently 99.45%.

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.