Vestcor Inc lifted its stake in shares of Terreno Realty Corporation (NYSE:TRNO – Free Report) by 663.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,398 shares of the real estate investment trust’s stock after acquiring an additional 10,773 shares during the quarter. Vestcor Inc’s holdings in Terreno Realty were worth $728,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in TRNO. Norges Bank purchased a new position in Terreno Realty during the fourth quarter valued at approximately $168,221,000. UBS Group AG lifted its holdings in Terreno Realty by 108.1% during the third quarter. UBS Group AG now owns 599,894 shares of the real estate investment trust’s stock valued at $34,044,000 after purchasing an additional 311,559 shares in the last quarter. Adelante Capital Management LLC purchased a new position in Terreno Realty during the third quarter valued at approximately $16,070,000. State Street Corp lifted its holdings in Terreno Realty by 4.0% during the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock valued at $336,139,000 after purchasing an additional 230,444 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Terreno Realty by 273.8% during the fourth quarter. SG Americas Securities LLC now owns 300,848 shares of the real estate investment trust’s stock valued at $17,663,000 after purchasing an additional 220,365 shares in the last quarter.
Terreno Realty Stock Down 0.8%
Shares of TRNO opened at $63.82 on Tuesday. The business’s 50 day moving average is $64.98 and its 200 day moving average is $63.24. The company has a market capitalization of $6.78 billion, a PE ratio of 15.60 and a beta of 1.05. Terreno Realty Corporation has a 12-month low of $53.00 and a 12-month high of $67.55. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23.
Terreno Realty Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, June 26th. Terreno Realty’s dividend payout ratio (DPR) is 50.86%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of Terreno Realty from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Piper Sandler lifted their price target on shares of Terreno Realty from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Weiss Ratings raised shares of Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Wells Fargo & Company lowered their price target on shares of Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Finally, UBS Group set a $72.00 target price on Terreno Realty in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.
Read Our Latest Report on Terreno Realty
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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