Park Avenue Securities LLC Acquires New Position in Terreno Realty Co. (NYSE:TRNO)

Park Avenue Securities LLC bought a new stake in Terreno Realty Co. (NYSE:TRNO) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,794 shares of the real estate investment trust’s stock, valued at approximately $240,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Terreno Realty by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock worth $902,293,000 after purchasing an additional 1,484,301 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Terreno Realty by 287.6% during the 4th quarter. Deutsche Bank AG now owns 1,546,406 shares of the real estate investment trust’s stock valued at $91,454,000 after acquiring an additional 1,147,404 shares in the last quarter. Norges Bank acquired a new position in shares of Terreno Realty during the 4th quarter valued at $58,818,000. FMR LLC lifted its holdings in shares of Terreno Realty by 5.9% during the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust’s stock valued at $663,987,000 after acquiring an additional 628,116 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Terreno Realty by 51.6% in the 4th quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust’s stock worth $109,150,000 after buying an additional 628,065 shares in the last quarter.

Wall Street Analysts Forecast Growth

TRNO has been the topic of a number of recent analyst reports. Barclays cut their price objective on shares of Terreno Realty from $57.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 27th. Wells Fargo & Company lowered their target price on Terreno Realty from $67.00 to $63.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. Piper Sandler lowered their target price on Terreno Realty from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Scotiabank lowered their target price on Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday, April 7th. Finally, The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and upped their target price for the company from $65.00 to $77.00 in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $65.00.

Terreno Realty Stock Performance

Shares of TRNO stock opened at $58.26 on Tuesday. Terreno Realty Co. has a 12-month low of $48.18 and a 12-month high of $71.63. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 2.82 and a beta of 1.07. The business has a 50 day simple moving average of $57.09 and a 200 day simple moving average of $60.95. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.49 dividend. The ex-dividend date is Friday, June 27th. This represents a $1.96 dividend on an annualized basis and a yield of 3.36%. Terreno Realty’s dividend payout ratio (DPR) is 98.49%.

Terreno Realty Company Profile

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.