Connor Clark & Lunn Investment Management Ltd. Acquires 14,664 Shares of Terreno Realty Corporation $TRNO

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Terreno Realty Corporation (NYSE:TRNO) by 88.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,268 shares of the real estate investment trust’s stock after buying an additional 14,664 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Terreno Realty were worth $1,753,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TRNO. Cerity Partners LLC grew its stake in shares of Terreno Realty by 233.9% in the first quarter. Cerity Partners LLC now owns 19,194 shares of the real estate investment trust’s stock worth $1,213,000 after acquiring an additional 13,445 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Terreno Realty by 2.1% in the 1st quarter. New York State Common Retirement Fund now owns 72,900 shares of the real estate investment trust’s stock valued at $4,609,000 after purchasing an additional 1,500 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in Terreno Realty by 188.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 36,150 shares of the real estate investment trust’s stock worth $2,285,000 after purchasing an additional 23,625 shares during the last quarter. Allianz Asset Management GmbH bought a new position in shares of Terreno Realty during the 1st quarter worth about $3,651,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Terreno Realty during the first quarter valued at about $7,613,000.

Analyst Ratings Changes

TRNO has been the subject of a number of research reports. Piper Sandler upgraded Terreno Realty from a “neutral” rating to an “overweight” rating and set a $75.00 price objective for the company in a research report on Monday, November 10th. KeyCorp reduced their target price on Terreno Realty from $70.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, August 21st. Cantor Fitzgerald began coverage on Terreno Realty in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $70.00 target price for the company. The Goldman Sachs Group boosted their price target on shares of Terreno Realty from $64.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Terreno Realty in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Terreno Realty Price Performance

Shares of TRNO stock opened at $60.76 on Monday. The stock’s fifty day simple moving average is $58.90 and its 200 day simple moving average is $57.58. Terreno Realty Corporation has a one year low of $48.18 and a one year high of $69.20. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 2.51 and a beta of 1.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. Terreno Realty had a return on equity of 6.71% and a net margin of 59.56%.The company had revenue of $116.25 million during the quarter, compared to analysts’ expectations of $114.62 million. On average, analysts expect that Terreno Realty Corporation will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, December 15th will be given a $0.52 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.08 dividend on an annualized basis and a yield of 3.4%. Terreno Realty’s payout ratio is 66.03%.

Insiders Place Their Bets

In other news, EVP John Tull Meyer sold 4,758 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $59.95, for a total transaction of $285,242.10. Following the completion of the sale, the executive vice president owned 119,949 shares of the company’s stock, valued at approximately $7,190,942.55. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

Terreno Realty 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.