Legal & General Group Plc Increases Position in Terreno Realty Co. (NYSE:TRNO)

Legal & General Group Plc increased its position in Terreno Realty Co. (NYSE:TRNO) by 14.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 953,775 shares of the real estate investment trust’s stock after acquiring an additional 119,865 shares during the period. Legal & General Group Plc owned approximately 0.96% of Terreno Realty worth $56,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manchester Capital Management LLC purchased a new position in shares of Terreno Realty in the fourth quarter worth about $27,000. Steward Partners Investment Advisory LLC increased its holdings 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 worth $33,000 after buying an additional 361 shares during the period. Quadrant Capital Group LLC raised its position in Terreno Realty by 94.6% during the 4th quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 370 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Terreno Realty during the 4th quarter valued at approximately $76,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Terreno Realty in the 3rd quarter valued at $225,000.

Terreno Realty Stock Up 1.1 %

Shares of NYSE TRNO opened at $54.56 on Friday. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00. The company’s 50-day simple moving average is $64.12 and its 200-day simple moving average is $62.66. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty Co. has a 52-week low of $48.18 and a 52-week high of $71.63.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Thursday, March 27th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend was Thursday, March 27th. Terreno Realty’s dividend payout ratio is currently 102.08%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and boosted their target price for the company from $65.00 to $77.00 in a research report on Friday, February 21st. BMO Capital Markets lifted their price target on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Piper Sandler lowered Terreno Realty from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $78.00 to $61.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. Finally, Barclays decreased their target price on shares of Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.