Vestcor Inc Grows Stake in Terreno Realty Corporation $TRNO

Vestcor Inc raised its stake in Terreno Realty Corporation (NYSE:TRNO) by 663.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,398 shares of the real estate investment trust’s stock after acquiring an additional 10,773 shares during the period. Vestcor Inc’s holdings in Terreno Realty were worth $728,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. DigitalBridge Group Inc. grew its stake in shares of Terreno Realty by 29.0% in the third quarter. DigitalBridge Group Inc. now owns 346,700 shares of the real estate investment trust’s stock worth $18,649,000 after acquiring an additional 78,000 shares during the last quarter. Delphi Management Inc. MA purchased a new stake in shares of Terreno Realty in the fourth quarter worth $1,238,000. Sage Rhino Capital LLC boosted its position in shares of Terreno Realty by 36.6% during the fourth quarter. Sage Rhino Capital LLC now owns 40,190 shares of the real estate investment trust’s stock valued at $2,360,000 after buying an additional 10,777 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Terreno Realty by 7.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,208,471 shares of the real estate investment trust’s stock valued at $70,950,000 after buying an additional 81,444 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Terreno Realty by 14.6% during the third quarter. JPMorgan Chase & Co. now owns 1,252,479 shares of the real estate investment trust’s stock valued at $71,078,000 after buying an additional 159,104 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently commented on TRNO. KeyCorp increased their price objective on Terreno Realty from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. UBS Group set a $72.00 price objective on Terreno Realty in a research report on Monday, February 9th. Scotiabank increased their price objective on Terreno Realty from $69.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Piper Sandler increased their price objective on Terreno Realty from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Finally, Weiss Ratings raised Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $69.64.

Terreno Realty Price Performance

NYSE TRNO opened at $63.82 on Tuesday. Terreno Realty Corporation has a 52 week low of $53.00 and a 52 week high of $67.55. The firm has a market capitalization of $6.78 billion, a P/E ratio of 15.60 and a beta of 1.05. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $64.98 and a 200-day moving average price of $63.24.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $122.60 million. Equities research analysts anticipate that Terreno Realty Corporation will post 2.79 earnings per share for the current year.

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. Terreno Realty’s dividend payout ratio is presently 50.86%.

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.