Zimmer Partners LP Makes New Investment in Terreno Realty Co. (NYSE:TRNO)

Zimmer Partners LP bought a new position in shares of Terreno Realty Co. (NYSE:TRNO) in the first quarter, Holdings Channel.com reports. The firm bought 32,800 shares of the real estate investment trust’s stock, valued at approximately $1,895,000.

A number of other large investors have also modified their holdings of the business. Grandeur Peak Global Advisors LLC boosted its position in Terreno Realty by 16.2% during the first quarter. Grandeur Peak Global Advisors LLC now owns 77,275 shares of the real estate investment trust’s stock worth $4,464,000 after purchasing an additional 10,800 shares during the period. D. E. Shaw & Co. Inc. boosted its position in Terreno Realty by 49.2% during the first quarter. D. E. Shaw & Co. Inc. now owns 150,117 shares of the real estate investment trust’s stock worth $8,672,000 after purchasing an additional 49,531 shares during the period. Endeavour Capital Advisors Inc. boosted its position in Terreno Realty by 202.1% during the first quarter. Endeavour Capital Advisors Inc. now owns 76,351 shares of the real estate investment trust’s stock worth $4,411,000 after purchasing an additional 51,076 shares during the period. Tudor Investment Corp Et Al boosted its position in Terreno Realty by 4.5% during the first quarter. Tudor Investment Corp Et Al now owns 89,532 shares of the real estate investment trust’s stock worth $5,172,000 after purchasing an additional 3,881 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in Terreno Realty by 14.6% during the first quarter. Cubist Systematic Strategies LLC now owns 21,163 shares of the real estate investment trust’s stock worth $1,223,000 after purchasing an additional 2,694 shares during the period. Hedge funds and other institutional investors own 97.50% of the company’s stock.

A number of equities research analysts have recently issued reports on TRNO shares. Zacks Investment Research raised shares of Terreno Realty from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Thursday. KeyCorp increased their price target on shares of Terreno Realty from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, July 15th. Mizuho reissued a “neutral” rating and issued a $65.00 price target on shares of Terreno Realty in a report on Wednesday, July 14th. BTIG Research increased their price target on shares of Terreno Realty from $67.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, April 16th. Finally, Berenberg Bank downgraded shares of Terreno Realty from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a research note on Thursday, May 27th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $68.63.

TRNO traded down $0.20 on Thursday, reaching $67.17. The company had a trading volume of 150 shares, compared to its average volume of 320,827. The business has a 50 day moving average of $65.27. The stock has a market capitalization of $4.67 billion, a P/E ratio of 55.68 and a beta of 0.57. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.22 and a current ratio of 1.22. Terreno Realty Co. has a 52-week low of $52.63 and a 52-week high of $68.65.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Thursday, May 6th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.15). The company had revenue of $50.69 million during the quarter, compared to analysts’ expectations of $49.23 million. Terreno Realty had a net margin of 43.23% and a return on equity of 5.20%. On average, equities analysts expect that Terreno Realty Co. will post 1.65 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 14th. Shareholders of record on Wednesday, June 30th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Tuesday, June 29th. Terreno Realty’s dividend payout ratio (DPR) is presently 80.56%.

Terreno Realty Profile

Terreno Realty Corporation and together with its subsidiaries, the ÂCompanyÂ) 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 condensed notes to the consolidated financial statements are unaudited.

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Institutional Ownership by Quarter for Terreno Realty (NYSE:TRNO)

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