Harvest Fund Management Co. Ltd Acquires Shares of 1,285 Terreno Realty Co. (NYSE:TRNO)

Harvest Fund Management Co. Ltd bought a new stake in Terreno Realty Co. (NYSE:TRNO) during the fourth quarter, HoldingsChannel.com reports. The firm bought 1,285 shares of the real estate investment trust’s stock, valued at approximately $76,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Maryland State Retirement & Pension System acquired a new stake in shares of Terreno Realty in the 4th quarter valued at approximately $1,986,000. Xponance Inc. boosted its position in Terreno Realty by 9.5% in the fourth quarter. Xponance Inc. now owns 6,861 shares of the real estate investment trust’s stock valued at $406,000 after buying an additional 597 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Terreno Realty by 1.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,288,168 shares of the real estate investment trust’s stock worth $76,183,000 after buying an additional 14,995 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of Terreno Realty during the fourth quarter worth $529,000. Finally, Corient Private Wealth LLC increased its holdings in shares of Terreno Realty by 327.6% during the fourth quarter. Corient Private Wealth LLC now owns 22,968 shares of the real estate investment trust’s stock worth $1,358,000 after buying an additional 17,596 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TRNO. Deutsche Bank Aktiengesellschaft initiated coverage on Terreno Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. Barclays restated an “equal weight” rating and set a $60.00 price target (down from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Piper Sandler dropped their price objective on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. The Goldman Sachs Group raised shares of Terreno Realty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $77.00 in a report on Friday, February 21st. Finally, BMO Capital Markets upped their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.36.

Terreno Realty Trading Down 4.1 %

TRNO opened at $62.56 on Monday. The stock has a market cap of $6.24 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty Co. has a twelve month low of $53.78 and a twelve month high of $71.63. The company has a fifty day moving average of $65.78 and a 200-day moving average of $63.78.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. On average, sell-side analysts predict that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is presently 102.08%.

About Terreno Realty

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.