Westpac Banking Corp purchased a new stake in shares of Terreno Realty Corporation (NYSE:TRNO – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,000 shares of the real estate investment trust’s stock, valued at approximately $798,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its holdings in Terreno Realty by 52.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 172 shares during the last quarter. UMB Bank n.a. grew its holdings in Terreno Realty by 49.4% during the 4th quarter. UMB Bank n.a. now owns 535 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 177 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Terreno Realty by 73.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 189 shares during the period. First Horizon Corp increased its position in Terreno Realty by 41.5% in the 4th quarter. First Horizon Corp now owns 651 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 191 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Terreno Realty by 15.4% during the second quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 193 shares during the last quarter.
Terreno Realty Stock Down 2.4%
Shares of NYSE TRNO opened at $73.01 on Thursday. The company’s 50 day moving average price is $67.08 and its 200-day moving average price is $64.80. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91. Terreno Realty Corporation has a 52-week low of $53.00 and a 52-week high of $78.94. The company has a market capitalization of $7.76 billion, a P/E ratio of 17.85 and a beta of 1.05.
Terreno Realty Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.08 dividend on an annualized basis and a yield of 2.8%. Terreno Realty’s dividend payout ratio is 50.86%.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Robert W. Baird set a $69.00 price target on shares of Terreno Realty in a report on Friday, May 8th. Piper Sandler increased their price objective on Terreno Realty from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday. Raymond James Financial initiated coverage on Terreno Realty in a research report on Wednesday, June 17th. They set an “underperform” rating for the company. Weiss Ratings raised Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, UBS Group set a $68.00 price target on Terreno Realty in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Terreno Realty presently has an average rating of “Moderate Buy” and an average price target of $70.71.
Get Our Latest Research Report on TRNO
Terreno Realty Profile
Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.
Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.
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