Arizona State Retirement System Sells 249 Shares of Terreno Realty Co. (NYSE:TRNO)

Arizona State Retirement System lowered its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 1.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 23,457 shares of the real estate investment trust’s stock after selling 249 shares during the period. Arizona State Retirement System’s holdings in Terreno Realty were worth $1,470,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Terreno Realty by 1.4% during the third quarter. Vanguard Group Inc. now owns 11,919,178 shares of the real estate investment trust’s stock worth $677,009,000 after purchasing an additional 168,728 shares during the period. Wellington Management Group LLP lifted its position in Terreno Realty by 8.4% during the third quarter. Wellington Management Group LLP now owns 598,005 shares of the real estate investment trust’s stock worth $33,967,000 after acquiring an additional 46,475 shares during the last quarter. Townsquare Capital LLC lifted its position in Terreno Realty by 12.0% during the third quarter. Townsquare Capital LLC now owns 22,073 shares of the real estate investment trust’s stock worth $1,254,000 after acquiring an additional 2,364 shares during the last quarter. Wolverine Asset Management LLC lifted its position in Terreno Realty by 63.9% during the third quarter. Wolverine Asset Management LLC now owns 27,224 shares of the real estate investment trust’s stock worth $1,546,000 after acquiring an additional 10,617 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Terreno Realty by 11.1% during the third quarter. Invesco Ltd. now owns 4,113,232 shares of the real estate investment trust’s stock worth $233,632,000 after acquiring an additional 411,973 shares during the last quarter.

Terreno Realty Stock Down 1.2 %

Shares of TRNO opened at $60.78 on Friday. Terreno Realty Co. has a one year low of $50.42 and a one year high of $66.63. The company has a market cap of $5.87 billion, a P/E ratio of 33.58, a P/E/G ratio of 2.84 and a beta of 0.81. 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 firm has a 50 day simple moving average of $63.35 and a two-hundred day simple moving average of $60.03.

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

Terreno Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 28th were paid a $0.45 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.80 annualized dividend and a dividend yield of 2.96%. Terreno Realty’s dividend payout ratio is 99.45%.

Analyst Ratings Changes

Several brokerages have issued reports on TRNO. StockNews.com upgraded shares of Terreno Realty from a “sell” rating to a “hold” rating in a research report on Saturday, March 23rd. The Goldman Sachs Group raised their price objective on shares of Terreno Realty from $60.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Piper Sandler lifted their price target 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. Wedbush reiterated a “neutral” rating and issued a $67.00 price target on shares of Terreno Realty in a research report on Thursday, March 28th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $65.00 price target on shares of Terreno Realty in a research report on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $67.11.

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.