Cynosure Group LLC Grows Stock Holdings in Terreno Realty Corporation $TRNO

Cynosure Group LLC lifted its stake in Terreno Realty Corporation (NYSE:TRNO) by 40.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,098 shares of the real estate investment trust’s stock after purchasing an additional 2,059 shares during the quarter. Cynosure Group LLC’s holdings in Terreno Realty were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH purchased a new stake in shares of Terreno Realty in the first quarter worth $3,651,000. KLP Kapitalforvaltning AS boosted its stake in Terreno Realty by 3.5% in the 1st quarter. KLP Kapitalforvaltning AS now owns 20,600 shares of the real estate investment trust’s stock worth $1,311,000 after purchasing an additional 700 shares in the last quarter. Cetera Investment Advisers grew its position in Terreno Realty by 5.0% during the 1st quarter. Cetera Investment Advisers now owns 4,448 shares of the real estate investment trust’s stock valued at $281,000 after purchasing an additional 213 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Terreno Realty by 0.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,057 shares of the real estate investment trust’s stock valued at $4,050,000 after purchasing an additional 250 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Terreno Realty by 1,260.5% during the 1st quarter. Federated Hermes Inc. now owns 4,000 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 3,706 shares in the last quarter.

Terreno Realty Stock Up 0.5%

Terreno Realty stock opened at $62.24 on Tuesday. Terreno Realty Corporation has a one year low of $48.18 and a one year high of $69.20. The stock has a fifty day moving average of $59.20 and a 200 day moving average of $57.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market cap of $6.44 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. Terreno Realty had a return on equity of 6.71% and a net margin of 59.56%.The business had revenue of $116.25 million during the quarter, compared to the consensus estimate of $114.62 million. As a group, sell-side analysts predict that Terreno Realty Corporation will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, December 15th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, December 15th. Terreno Realty’s dividend payout ratio is currently 66.03%.

Analyst Upgrades and Downgrades

TRNO has been the topic of several analyst reports. Barclays upped their target price on shares of Terreno Realty from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, September 15th. KeyCorp lowered their price objective on Terreno Realty from $70.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, August 21st. The Goldman Sachs Group increased their target price on Terreno Realty from $64.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Scotiabank upgraded Terreno Realty from a “sector perform” rating to a “sector outperform” rating and set a $67.00 price target for the company in a research note on Monday, November 10th. Finally, Citigroup upped their price target on Terreno Realty from $58.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Insiders Place Their Bets

In other news, EVP John Tull Meyer sold 4,758 shares of Terreno Realty stock in a transaction on Friday, November 7th. The shares were sold at an average price of $59.95, for a total transaction of $285,242.10. Following the transaction, the executive vice president owned 119,949 shares in the company, valued at $7,190,942.55. This trade represents a 3.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.

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.