Employees Retirement System of Texas Grows Position in Terreno Realty Corporation $TRNO

Employees Retirement System of Texas grew its holdings in shares of Terreno Realty Corporation (NYSE:TRNO) by 17.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,455 shares of the real estate investment trust’s stock after purchasing an additional 10,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Terreno Realty were worth $3,726,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TRNO. T. Rowe Price Investment Management Inc. lifted its stake in shares of Terreno Realty by 2.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,271,442 shares of the real estate investment trust’s stock valued at $333,261,000 after buying an additional 125,940 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Terreno Realty by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock valued at $262,918,000 after acquiring an additional 523,950 shares during the period. Geode Capital Management LLC raised its holdings in Terreno Realty by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 2,631,838 shares of the real estate investment trust’s stock valued at $147,584,000 after acquiring an additional 92,519 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Terreno Realty by 4.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,967,489 shares of the real estate investment trust’s stock valued at $110,317,000 after purchasing an additional 83,403 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Terreno Realty by 5.2% during the 1st quarter. Invesco Ltd. now owns 1,930,096 shares of the real estate investment trust’s stock worth $122,021,000 after purchasing an additional 95,714 shares in the last quarter.

Terreno Realty Price Performance

Shares of TRNO stock opened at $62.97 on Thursday. The business’s 50 day moving average price is $59.38 and its 200-day moving average price is $57.82. Terreno Realty Corporation has a fifty-two week low of $48.18 and a fifty-two week high of $69.20. The firm has a market cap of $6.51 billion, a P/E ratio of 24.99, a P/E/G ratio of 2.51 and a beta of 1.07. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. Terreno Realty had a net margin of 59.56% and a return on equity of 6.71%. The business had revenue of $116.25 million for the quarter, compared to the consensus estimate of $114.62 million. On average, equities research analysts anticipate that Terreno Realty Corporation will post 2.64 earnings per share for the current year.

Terreno Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, December 15th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, December 15th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. Terreno Realty’s dividend payout ratio is 66.03%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TRNO. Scotiabank upgraded Terreno Realty from a “sector perform” rating to a “sector outperform” rating and set a $67.00 price target on the stock in a research report on Monday, November 10th. Piper Sandler raised shares of Terreno Realty from a “neutral” rating to an “overweight” rating and set a $75.00 price target on the stock in a report on Monday, November 10th. Barclays raised their price target on Terreno Realty from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, September 15th. Wells Fargo & Company upped their price objective on shares of Terreno Realty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, UBS Group set a $71.00 price objective on shares of Terreno Realty in a research report on Tuesday, October 21st. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.25.

Insider Activity

In other news, EVP John Tull Meyer sold 4,758 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $59.95, for a total value of $285,242.10. Following the completion of the transaction, the executive vice president owned 119,949 shares in the company, valued at $7,190,942.55. This trade represents a 3.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

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.