Principal Financial Group Inc. Has $257.26 Million Stock Holdings in Terreno Realty Corporation $TRNO

Principal Financial Group Inc. grew its holdings in Terreno Realty Corporation (NYSE:TRNO) by 246.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,188,453 shares of the real estate investment trust’s stock after acquiring an additional 2,979,982 shares during the period. Principal Financial Group Inc. owned 3.94% of Terreno Realty worth $257,257,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Terreno Realty by 52.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 172 shares in the last quarter. UMB Bank n.a. boosted its holdings in Terreno Realty by 49.4% in the fourth quarter. UMB Bank n.a. now owns 535 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 177 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Terreno Realty by 73.3% during the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 189 shares during the last quarter. First Horizon Corp increased its position in Terreno Realty by 41.5% during the fourth quarter. First Horizon Corp now owns 651 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 191 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Terreno Realty by 15.4% during the second quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 193 shares in the last quarter.

Terreno Realty Price Performance

NYSE:TRNO opened at $71.00 on Wednesday. The stock has a market cap of $7.55 billion, a P/E ratio of 17.36 and a beta of 1.05. Terreno Realty Corporation has a one year low of $53.00 and a one year high of $71.24. The company has a fifty day moving average price of $66.14 and a 200 day moving average price of $64.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.36. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. The firm had revenue of $124.44 million during the quarter, compared to the consensus estimate of $122.60 million. Analysts anticipate that Terreno Realty Corporation will post 2.8 earnings per share for the current year.

Terreno Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.08 dividend on an annualized basis and a yield of 2.9%. Terreno Realty’s dividend payout ratio (DPR) is 50.86%.

Analysts Set New Price Targets

A number of brokerages have weighed in on TRNO. Wells Fargo & Company reduced their price target on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. Weiss Ratings raised Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. UBS Group set a $68.00 price objective on Terreno Realty in a research note on Thursday, June 18th. Raymond James Financial started coverage on Terreno Realty in a report on Wednesday, June 17th. They issued an “underperform” rating for the company. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Terreno Realty in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.21.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.