State of New Jersey Common Pension Fund D Increases Holdings in Terreno Realty Co. (NYSE:TRNO)

State of New Jersey Common Pension Fund D increased its stake in shares of Terreno Realty Co. (NYSE:TRNOFree Report) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,230 shares of the real estate investment trust’s stock after purchasing an additional 2,869 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.16% of Terreno Realty worth $7,795,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TRNO. Norges Bank purchased a new stake in Terreno Realty during the 4th quarter worth about $49,505,000. State Street Corp lifted its holdings in Terreno Realty by 18.7% during the 1st quarter. State Street Corp now owns 3,642,466 shares of the real estate investment trust’s stock worth $270,935,000 after buying an additional 574,544 shares during the last quarter. BlackRock Inc. lifted its holdings in Terreno Realty by 7.1% during the 1st quarter. BlackRock Inc. now owns 8,279,766 shares of the real estate investment trust’s stock worth $534,873,000 after buying an additional 549,823 shares during the last quarter. Morgan Stanley lifted its holdings in Terreno Realty by 177.2% during the 4th quarter. Morgan Stanley now owns 828,334 shares of the real estate investment trust’s stock worth $47,107,000 after buying an additional 529,563 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Terreno Realty by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 10,954,204 shares of the real estate investment trust’s stock worth $811,159,000 after buying an additional 341,279 shares during the last quarter.

Insider Buying and Selling

In related news, CAO Melinda Weston sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $62.06, for a total value of $93,090.00. Following the sale, the chief accounting officer now owns 15,683 shares of the company’s stock, valued at approximately $973,286.98. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Melinda Weston sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $62.06, for a total value of $93,090.00. Following the sale, the chief accounting officer now owns 15,683 shares of the company’s stock, valued at approximately $973,286.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Leroy E. Carlson sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $58.77, for a total value of $293,850.00. Following the completion of the sale, the director now directly owns 34,871 shares in the company, valued at approximately $2,049,368.67. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

TRNO has been the subject of a number of recent analyst reports. StockNews.com downgraded Terreno Realty from a “hold” rating to a “sell” rating in a report on Monday, February 5th. The Goldman Sachs Group upped their price objective on Terreno Realty from $60.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Wells Fargo & Company initiated coverage on Terreno Realty in a research report on Thursday, December 7th. They set an “overweight” rating and a $71.00 target price on the stock. Mizuho dropped their target price on Terreno Realty from $67.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 5th. Finally, Piper Sandler dropped their target price on Terreno Realty from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $64.71.

View Our Latest Report on TRNO

Terreno Realty Stock Performance

TRNO opened at $63.29 on Monday. The stock has a market cap of $5.57 billion, a P/E ratio of 33.14 and a beta of 0.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.68 and a quick ratio of 2.68. The stock’s 50 day simple moving average is $61.60 and its 200 day simple moving average is $58.81. Terreno Realty Co. has a 1-year low of $50.42 and a 1-year high of $65.13.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Thursday, March 28th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, March 27th. Terreno Realty’s dividend payout ratio is currently 94.24%.

About Terreno Realty

(Free Report)

Terreno Realty Corporation ("Terreno", and together with its subsidiaries, "we", "us", "our", "our Company", or "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 We invest in several types of industrial real estate, including warehouse/distribution (approximately 76.3% of our total annualized base rent as of September 30, 2023), flex (including light industrial and research and development, or R&D) (approximately 3.8%), transshipment (approximately 6.7%) and improved land (approximately 13.2%).

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

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