Duality Advisers LP Acquires New Position in Terreno Realty Co. (NYSE:TRNO)

Duality Advisers LP acquired a new stake in Terreno Realty Co. (NYSE:TRNO) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,802 shares of the real estate investment trust’s stock, valued at approximately $364,000.

Several other large investors have also bought and sold shares of the business. Handelsbanken Fonder AB lifted its holdings in Terreno Realty by 6.9% in the fourth quarter. Handelsbanken Fonder AB now owns 13,930 shares of the real estate investment trust’s stock valued at $873,000 after buying an additional 900 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Terreno Realty by 3.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,100 shares of the real estate investment trust’s stock valued at $946,000 after buying an additional 471 shares during the period. Tandem Investment Advisors Inc. increased its stake in Terreno Realty by 40.2% in the fourth quarter. Tandem Investment Advisors Inc. now owns 977,150 shares of the real estate investment trust’s stock valued at $61,238,000 after purchasing an additional 280,109 shares in the last quarter. Mackenzie Financial Corp increased its stake in Terreno Realty by 17.7% in the fourth quarter. Mackenzie Financial Corp now owns 8,597 shares of the real estate investment trust’s stock valued at $539,000 after purchasing an additional 1,294 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. increased its stake in Terreno Realty by 3.1% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 12,741 shares of the real estate investment trust’s stock valued at $798,000 after purchasing an additional 380 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TRNO shares. Piper Sandler upped their target price on shares of Terreno Realty from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Scotiabank upped their target price on shares of Terreno Realty from $64.00 to $66.00 and gave the company a “sector perform” rating in a research note on Monday, February 12th. Wedbush reaffirmed a “neutral” rating and issued a $67.00 target price on shares of Terreno Realty in a research note on Thursday, March 28th. Barclays started coverage on shares of Terreno Realty in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $71.00 target price for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 target price on shares of Terreno Realty in a research note on Thursday, March 28th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $67.11.

Terreno Realty Stock Down 0.6 %

Shares of TRNO stock opened at $54.13 on Friday. The firm has a fifty day moving average of $62.10 and a 200-day moving average of $59.96. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.28. Terreno Realty Co. has a 12-month low of $50.42 and a 12-month high of $66.63. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 29.91, a P/E/G ratio of 2.50 and a beta of 0.81.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The business had revenue of $86.48 million during the quarter, compared to the consensus estimate of $84.06 million. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. As a group, equities research analysts predict that Terreno Realty Co. will post 2.42 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 28th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Wednesday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is currently 99.45%.

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.