Mirae Asset Global Investments Co. Ltd. Buys 689 Shares of Terreno Realty Co. (NYSE:TRNO)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Terreno Realty Co. (NYSE:TRNO) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 39,394 shares of the real estate investment trust’s stock after acquiring an additional 689 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Terreno Realty were worth $2,469,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in shares of Terreno Realty during the first quarter valued at approximately $28,000. Ronald Blue Trust Inc. raised its stake in shares of Terreno Realty by 93.9% during the third quarter. Ronald Blue Trust Inc. now owns 537 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 260 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Terreno Realty during the fourth quarter valued at approximately $35,000. Blue Trust Inc. raised its stake in shares of Terreno Realty by 84.2% during the fourth quarter. Blue Trust Inc. now owns 989 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 452 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Terreno Realty during the fourth quarter valued at approximately $89,000.

Terreno Realty Stock Performance

Shares of TRNO stock opened at $54.75 on Friday. The business’s fifty day simple moving average is $63.02 and its 200-day simple moving average is $60.02. The company has a market cap of $5.28 billion, a PE ratio of 30.25, a PEG ratio of 2.69 and a beta of 0.81. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.28. Terreno Realty Co. has a 12-month low of $50.42 and a 12-month high of $66.63.

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

Terreno Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 28th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Wednesday, March 27th. Terreno Realty’s payout ratio is 99.45%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TRNO shares. Barclays initiated coverage on shares of Terreno Realty in a research note on Wednesday, March 27th. They set an “overweight” rating and a $71.00 price target for the company. The Goldman Sachs Group lifted their price objective on shares of Terreno Realty from $60.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Mizuho lifted their price objective on shares of Terreno Realty from $52.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. StockNews.com raised shares of Terreno Realty from a “sell” rating to a “hold” rating in a report on Saturday, March 23rd. Finally, Piper Sandler lifted their price objective on shares of Terreno Realty from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.