New York Life Investment Management LLC Acquires 24,365 Shares of Terreno Realty Co. (NYSE:TRNO)

New York Life Investment Management LLC increased its holdings in Terreno Realty Co. (NYSE:TRNO) by 651.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 28,103 shares of the real estate investment trust’s stock after purchasing an additional 24,365 shares during the period. New York Life Investment Management LLC’s holdings in Terreno Realty were worth $1,761,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Terreno Realty by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,919,178 shares of the real estate investment trust’s stock valued at $677,009,000 after purchasing an additional 168,728 shares during the period. Wellington Management Group LLP boosted its position in shares of Terreno Realty by 8.4% in the third quarter. Wellington Management Group LLP now owns 598,005 shares of the real estate investment trust’s stock valued at $33,967,000 after acquiring an additional 46,475 shares during the period. Townsquare Capital LLC grew its stake 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 valued at $1,254,000 after acquiring an additional 2,364 shares in the last quarter. Wolverine Asset Management LLC lifted its stake in Terreno Realty by 63.9% in the 3rd quarter. Wolverine Asset Management LLC now owns 27,224 shares of the real estate investment trust’s stock worth $1,546,000 after purchasing an additional 10,617 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Terreno Realty by 11.1% in the 3rd quarter. Invesco Ltd. now owns 4,113,232 shares of the real estate investment trust’s stock valued at $233,632,000 after purchasing an additional 411,973 shares during the period.

Terreno Realty Stock Down 1.4 %

Shares of NYSE:TRNO opened at $54.10 on Tuesday. The company has a market cap of $5.22 billion, a PE ratio of 29.89, a P/E/G ratio of 2.52 and a beta of 0.85. Terreno Realty Co. has a 1 year low of $50.42 and a 1 year high of $66.63. The stock’s 50-day moving average is $61.10 and its 200 day moving average is $59.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.68 and a quick ratio of 2.68.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. The company had revenue of $86.48 million during the quarter, compared to analyst estimates of $84.06 million. Sell-side analysts anticipate that Terreno Realty Co. will post 2.42 EPS for the current year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 28th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.80 annualized dividend and a yield of 3.33%. Terreno Realty’s dividend payout ratio (DPR) is presently 99.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TRNO. Barclays began coverage on Terreno Realty in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $71.00 price objective on the stock. Scotiabank upped their price objective on shares of Terreno Realty from $64.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. Mizuho lifted their target price on shares of Terreno Realty from $52.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. JMP Securities restated a “market outperform” rating and set a $65.00 price objective on shares of Terreno Realty in a research report on Thursday, March 28th. Finally, Piper Sandler upped their target price on shares of Terreno Realty from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Terreno Realty currently has a consensus 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.