Mirae Asset Global Investments Co. Ltd. Raises Position in Terreno Realty Co. (NYSE:TRNO)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Terreno Realty Co. (NYSE:TRNO) by 1.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,394 shares of the real estate investment trust’s stock after buying an additional 689 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Terreno Realty were worth $2,469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRNO. Point72 Hong Kong Ltd purchased a new stake in Terreno Realty during the first quarter valued at about $28,000. Ronald Blue Trust Inc. raised its position in Terreno Realty by 93.9% during the third quarter. Ronald Blue Trust Inc. now owns 537 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 260 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Terreno Realty during the fourth quarter valued at about $35,000. Blue Trust Inc. raised its position 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. Finally, Lazard Asset Management LLC purchased a new stake in Terreno Realty during the fourth quarter valued at about $89,000.

Terreno Realty Stock Down 1.4 %

NYSE TRNO opened at $54.75 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market capitalization of $5.28 billion, a PE ratio of 30.25, a PEG ratio of 2.69 and a beta of 0.81. Terreno Realty Co. has a 1 year low of $50.42 and a 1 year high of $66.63. The business’s 50-day moving average is $63.02 and its 200 day moving average is $60.02.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.10. The company had revenue of $86.48 million for the quarter, compared to analysts’ expectations of $84.06 million. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. Sell-side analysts forecast that Terreno Realty Co. will post 2.41 earnings per share for the current year.

Terreno Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 28th were given a dividend of $0.45 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.80 annualized dividend and a yield of 3.29%. Terreno Realty’s payout ratio is 99.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wedbush restated a “neutral” rating and set a $67.00 price target on shares of Terreno Realty in a research report on Thursday, March 28th. Scotiabank lifted their price objective on Terreno Realty from $64.00 to $66.00 and gave the stock a “sector perform” rating in a report on Monday, February 12th. Mizuho lifted their price objective on Terreno Realty from $52.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. JMP Securities reiterated a “market outperform” rating and issued a $65.00 price objective on shares of Terreno Realty in a report on Thursday, March 28th. Finally, Piper Sandler lifted their price objective on Terreno Realty from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.11.

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.