Strs Ohio Trims Stake in Terreno Realty Co. (NYSE:TRNO)

Strs Ohio reduced its stake in shares of Terreno Realty Co. (NYSE:TRNO) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,071 shares of the real estate investment trust’s stock after selling 9,700 shares during the period. Strs Ohio owned 0.20% of Terreno Realty worth $10,909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Terreno Realty by 6.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 98,648 shares of the real estate investment trust’s stock worth $6,182,000 after buying an additional 6,102 shares in the last quarter. Phocas Financial Corp. raised its holdings in shares of Terreno Realty by 21.9% during the 4th quarter. Phocas Financial Corp. now owns 136,162 shares of the real estate investment trust’s stock worth $8,533,000 after acquiring an additional 24,480 shares in the last quarter. Impax Asset Management Group plc boosted its position in shares of Terreno Realty by 7.1% during the 4th quarter. Impax Asset Management Group plc now owns 150,000 shares of the real estate investment trust’s stock valued at $9,400,000 after acquiring an additional 10,000 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Terreno Realty by 3.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 339,696 shares of the real estate investment trust’s stock worth $21,289,000 after purchasing an additional 10,824 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Terreno Realty by 1.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,394 shares of the real estate investment trust’s stock worth $2,469,000 after purchasing an additional 689 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays assumed coverage on shares of Terreno Realty in a report on Wednesday, March 27th. They issued an “overweight” rating and a $71.00 target price on the stock. The Goldman Sachs Group raised 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. Mizuho boosted their target price on Terreno Realty from $52.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Piper Sandler boosted their price objective on shares of Terreno Realty from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Finally, Wedbush reaffirmed a “neutral” rating and set a $67.00 price target on shares of Terreno Realty in a research note on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Terreno Realty presently has an average rating of “Hold” and a consensus target price of $67.11.

Terreno Realty Stock Performance

Terreno Realty stock opened at $55.52 on Thursday. Terreno Realty Co. has a fifty-two week low of $50.42 and a fifty-two week high of $66.63. The company has a market capitalization of $5.36 billion, a PE ratio of 30.67, a P/E/G ratio of 2.69 and a beta of 0.81. The company has a 50 day moving average price of $63.19 and a 200-day moving average price of $60.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.68 and a current ratio of 2.68.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. The business had revenue of $86.48 million during the quarter, compared to analyst estimates of $84.06 million. As a group, equities analysts forecast that Terreno Realty Co. will post 2.41 earnings per share for the current year.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 28th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Wednesday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is 99.45%.

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.