Geode Capital Management LLC Purchases 19,900 Shares of Terreno Realty Co. (NYSE:TRNO)

Geode Capital Management LLC boosted its position in shares of Terreno Realty Co. (NYSE:TRNO) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,434,904 shares of the real estate investment trust’s stock after purchasing an additional 19,900 shares during the period. Geode Capital Management LLC owned about 2.44% of Terreno Realty worth $144,031,000 as of its most recent SEC filing.

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

Terreno Realty Stock Down 4.4 %

NYSE:TRNO opened at $53.40 on Tuesday. The company’s 50-day simple moving average is $65.55 and its 200-day simple moving average is $63.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. Terreno Realty Co. has a fifty-two week low of $52.28 and a fifty-two week high of $71.63. The stock has a market capitalization of $5.50 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.82 and a beta of 1.00.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. On average, equities 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. Investors of record on Thursday, March 27th were paid a dividend of $0.49 per share. The ex-dividend date was Thursday, March 27th. This represents a $1.96 annualized dividend and a yield of 3.67%. Terreno Realty’s dividend payout ratio (DPR) is 102.08%.

Analyst Ratings Changes

A number of research firms have recently commented on TRNO. BMO Capital Markets upped their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Piper Sandler lowered Terreno Realty from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $78.00 to $61.00 in a report on Monday. Scotiabank reduced their price objective on Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday. The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $77.00 in a research report on Friday, February 21st. Finally, JMP Securities reissued a “market outperform” rating and set a $72.00 price target on shares of Terreno Realty in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Terreno Realty currently has an average rating of “Hold” and a consensus target price of $66.55.

Terreno Realty Company 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.