Terreno Realty Co. (NYSE:TRNO) Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in Terreno Realty Co. (NYSE:TRNO) by 18.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 24,827 shares of the real estate investment trust’s stock after selling 5,551 shares during the quarter. US Bancorp DE’s holdings in Terreno Realty were worth $1,468,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Terreno Realty by 16.4% in the 3rd quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock valued at $708,348,000 after buying an additional 1,496,666 shares during the period. Geode Capital Management LLC grew its position in Terreno Realty by 0.4% in the 3rd 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 acquiring an additional 8,940 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Terreno Realty by 22.3% in the 3rd 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 acquiring an additional 315,506 shares in the last quarter. Copeland Capital Management LLC grew its position in shares of Terreno Realty by 7.1% during the fourth quarter. Copeland Capital Management LLC now owns 1,209,144 shares of the real estate investment trust’s stock worth $71,509,000 after buying an additional 79,701 shares in the last quarter. Finally, Tandem Investment Advisors Inc. grew its position in shares of Terreno Realty by 5.1% during the fourth quarter. Tandem Investment Advisors Inc. now owns 1,081,224 shares of the real estate investment trust’s stock worth $63,944,000 after buying an additional 52,785 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TRNO shares. Scotiabank boosted their target price on Terreno Realty from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Friday, February 28th. Barclays reiterated an “equal weight” rating and issued a $60.00 price objective (down previously from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $77.00 in a research note on Friday, February 21st. BMO Capital Markets boosted their price objective on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler reduced their price objective on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Terreno Realty currently has a consensus rating of “Hold” and a consensus target price of $69.36.

Terreno Realty Stock Performance

Terreno Realty stock opened at $68.46 on Friday. The stock’s 50-day moving average is $64.26 and its 200-day moving average is $64.03. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 35.66, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. Terreno Realty Co. has a 12 month low of $53.78 and a 12 month high of $71.63.

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

Terreno Realty Announces Dividend

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 paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 2.86%. Terreno Realty’s dividend payout ratio (DPR) is presently 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.