Terreno Realty Co. (NYSE:TRNO) Shares Sold by Vestcor Inc

Vestcor Inc cut its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 43.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,213 shares of the real estate investment trust’s stock after selling 22,784 shares during the quarter. Vestcor Inc’s holdings in Terreno Realty were worth $1,728,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Huntington National Bank lifted its holdings in Terreno Realty by 7.4% during the 3rd quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust’s stock worth $171,000 after buying an additional 177 shares in the last quarter. MML Investors Services LLC lifted its holdings in Terreno Realty by 6.1% during the 3rd quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 249 shares in the last quarter. Arizona State Retirement System lifted its holdings in Terreno Realty by 1.0% during the 4th quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust’s stock worth $1,663,000 after buying an additional 276 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Terreno Realty by 176.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 361 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Terreno Realty by 0.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 120,450 shares of the real estate investment trust’s stock worth $8,050,000 after buying an additional 370 shares in the last quarter.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $66.35 on Friday. Terreno Realty Co. has a 12 month low of $53.78 and a 12 month high of $71.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market capitalization of $6.62 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.82 and a beta of 0.93. The company’s fifty day moving average price is $65.08 and its 200 day moving average price is $63.97.

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

Terreno Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.95%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s payout ratio is currently 102.08%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TRNO. Piper Sandler reduced their price objective on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective on the stock. Scotiabank raised their price objective on shares of Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a report on Friday, February 28th. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $77.00 in a report on Friday, February 21st. Finally, JMP Securities restated a “market outperform” rating and issued a $72.00 price objective on shares of Terreno Realty in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $69.36.

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.