Principal Financial Group Inc. lifted its position in Terreno Realty Corporation (NYSE:TRNO – Free Report) by 246.6% in the first quarter, HoldingsChannel.com reports. The firm owned 4,188,453 shares of the real estate investment trust’s stock after acquiring an additional 2,979,982 shares during the period. Principal Financial Group Inc.’s holdings in Terreno Realty were worth $257,257,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of TRNO. EverSource Wealth Advisors LLC raised its stake in shares of 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 buying an additional 189 shares in the last quarter. Wiser Advisor Group LLC bought a new position in shares of Terreno Realty during the 3rd quarter worth about $25,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Terreno Realty by 52.8% during 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 acquiring an additional 172 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 350 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Terreno Realty in the fourth quarter valued at about $30,000.
Terreno Realty Stock Up 1.0%
Shares of NYSE TRNO opened at $71.00 on Wednesday. The firm’s 50-day simple moving average is $66.14 and its 200 day simple moving average is $64.20. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 17.36 and a beta of 1.05. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23. Terreno Realty Corporation has a 12-month low of $53.00 and a 12-month high of $71.24.
Terreno Realty Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, June 26th. Terreno Realty’s dividend payout ratio is 50.86%.
Analysts Set New Price Targets
Several research analysts recently issued reports on the stock. Robert W. Baird set a $69.00 price target on shares of Terreno Realty in a research report on Friday, May 8th. Weiss Ratings raised Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Scotiabank lowered their price objective on Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 18th. Raymond James Financial started coverage on Terreno Realty in a report on Wednesday, June 17th. They issued an “underperform” rating for the company. Finally, KeyCorp restated an “overweight” rating on shares of Terreno Realty in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.21.
Get Our Latest Report on Terreno Realty
About Terreno Realty
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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