Terreno Realty Co. (NYSE:TRNO) Shares Purchased by Azimuth Capital Investment Management LLC

Azimuth Capital Investment Management LLC raised its holdings in Terreno Realty Co. (NYSE:TRNO) by 0.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 293,835 shares of the real estate investment trust’s stock after acquiring an additional 661 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Terreno Realty were worth $17,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TRNO. Vanguard Group Inc. lifted its holdings in shares of Terreno Realty by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock valued at $902,293,000 after acquiring an additional 1,484,301 shares in the last quarter. Norges Bank acquired a new position in shares of Terreno Realty during the fourth quarter worth about $58,818,000. FMR LLC boosted its position in shares of Terreno Realty by 5.9% in the fourth quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust’s stock worth $663,987,000 after buying an additional 628,116 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Terreno Realty by 280.3% in the fourth quarter. Russell Investments Group Ltd. now owns 520,187 shares of the real estate investment trust’s stock valued at $30,764,000 after buying an additional 383,400 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Terreno Realty by 58.3% during the 4th quarter. Bank of New York Mellon Corp now owns 948,090 shares of the real estate investment trust’s stock valued at $56,070,000 after buying an additional 349,060 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TRNO shares. JMP Securities restated a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a report on Monday, February 10th. The Goldman Sachs Group raised shares of Terreno Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $77.00 in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective for the company. Scotiabank dropped their target price on Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday. Finally, Piper Sandler downgraded Terreno Realty from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $78.00 to $61.00 in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Terreno Realty currently has an average rating of “Hold” and a consensus price target of $66.55.

Terreno Realty Price Performance

Shares of TRNO opened at $50.97 on Wednesday. Terreno Realty Co. has a 52 week low of $50.44 and a 52 week high of $71.63. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 2.82 and a beta of 1.00. The stock has a 50 day moving average of $64.96 and a 200-day moving average of $62.99.

Terreno Realty (NYSE:TRNO) last released 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%. As a group, analysts forecast that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Thursday, March 27th. Terreno Realty’s payout ratio is 102.08%.

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.