Massachusetts Financial Services Co. MA Sells 64,064 Shares of Terreno Realty Co. (NYSE:TRNO)

Massachusetts Financial Services Co. MA lowered its stake in shares of Terreno Realty Co. (NYSE:TRNO) by 6.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 990,452 shares of the real estate investment trust’s stock after selling 64,064 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.99% of Terreno Realty worth $58,575,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TRNO. MML Investors Services LLC raised its holdings in Terreno Realty by 6.1% in the 3rd quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 249 shares in the last quarter. Arizona State Retirement System lifted its position in Terreno Realty by 1.0% in the fourth quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust’s stock worth $1,663,000 after purchasing an additional 276 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in Terreno Realty by 176.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 361 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Terreno Realty by 0.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 120,450 shares of the real estate investment trust’s stock valued at $8,050,000 after buying an additional 370 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Terreno Realty by 3.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,585 shares of the real estate investment trust’s stock valued at $685,000 after buying an additional 400 shares in the last quarter.

Terreno Realty Price Performance

TRNO opened at $55.86 on Friday. The company’s 50 day simple moving average is $65.80 and its 200-day simple moving average is $63.35. The stock has a market capitalization of $5.75 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93. Terreno Realty Co. has a one year low of $53.78 and a one year high of $71.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. Sell-side analysts anticipate that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 27th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Thursday, March 27th. Terreno Realty’s dividend payout ratio is presently 102.08%.

Analysts Set New Price Targets

A number of research firms recently weighed in on TRNO. Piper Sandler lowered their target price on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. JMP Securities reissued a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a report on Monday, February 10th. BMO Capital Markets boosted their price target on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Barclays lowered their price target on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 25th. Finally, Scotiabank boosted their target price on shares of Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Terreno Realty has a consensus rating of “Hold” and an average target price of $69.09.

Terreno Realty Profile

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.