Impax Asset Management Group plc Grows Position in Terreno Realty Co. (NYSE:TRNO)

Impax Asset Management Group plc increased its position in shares of Terreno Realty Co. (NYSE:TRNO) by 9.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 120,000 shares of the real estate investment trust’s stock after buying an additional 10,000 shares during the quarter. Impax Asset Management Group plc’s holdings in Terreno Realty were worth $7,097,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Stifel Financial Corp increased its stake in Terreno Realty by 39.3% in the third quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock valued at $6,156,000 after purchasing an additional 25,988 shares during the last quarter. Barclays PLC increased its stake in Terreno Realty by 131.0% in the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock valued at $11,360,000 after purchasing an additional 96,380 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Terreno Realty by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock valued at $115,475,000 after purchasing an additional 315,506 shares during the last quarter. Geode Capital Management LLC increased its stake in Terreno Realty by 0.4% in the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock valued at $161,423,000 after purchasing an additional 8,940 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in Terreno Realty in the third quarter valued at approximately $225,000.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TRNO. Barclays reissued an “equal weight” rating and issued a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and increased their price objective for the company from $65.00 to $77.00 in a report on Friday. JMP Securities reaffirmed a “market outperform” rating and set a $72.00 price target on shares of Terreno Realty in a report on Monday, February 10th. Piper Sandler decreased their price target on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $69.27.

Terreno Realty Trading Down 0.1 %

NYSE:TRNO opened at $67.05 on Tuesday. The stock has a fifty day moving average price of $62.66 and a two-hundred day moving average price of $64.01. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.82 and a beta of 0.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. Terreno Realty Co. has a 1 year low of $53.78 and a 1 year high of $71.63.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. As a group, sell-side analysts anticipate that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s dividend payout ratio is currently 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.