Allspring Global Investments Holdings LLC Buys 10,936 Shares of Terreno Realty Corporation $TRNO

Allspring Global Investments Holdings LLC increased its position in Terreno Realty Corporation (NYSE:TRNO) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 403,367 shares of the real estate investment trust’s stock after buying an additional 10,936 shares during the period. Allspring Global Investments Holdings LLC owned 0.39% of Terreno Realty worth $23,807,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in Terreno Realty by 90.2% in the first quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 378 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 350 shares in the last quarter. New York State Common Retirement Fund grew its position in Terreno Realty by 2.5% in the 2nd quarter. New York State Common Retirement Fund now owns 74,700 shares of the real estate investment trust’s stock valued at $4,188,000 after purchasing an additional 1,800 shares during the period. M&T Bank Corp increased its stake in Terreno Realty by 2.4% during the 2nd quarter. M&T Bank Corp now owns 19,654 shares of the real estate investment trust’s stock valued at $1,102,000 after purchasing an additional 455 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Terreno Realty during the 2nd quarter valued at $819,000.

Terreno Realty Stock Performance

TRNO stock opened at $62.16 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a market cap of $6.61 billion, a PE ratio of 15.94 and a beta of 1.12. The business has a 50 day moving average of $63.45 and a 200-day moving average of $61.22. Terreno Realty Corporation has a 12-month low of $48.18 and a 12-month high of $66.74.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, February 4th. The real estate investment trust reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.68. The business had revenue of $137.48 million for the quarter, compared to analyst estimates of $124.72 million. Terreno Realty had a return on equity of 10.08% and a net margin of 84.51%. As a group, sell-side analysts expect that Terreno Realty Corporation will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, March 27th. Terreno Realty’s payout ratio is 53.33%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citizens Jmp raised their price objective on shares of Terreno Realty from $66.00 to $70.00 and gave the company a “market outperform” rating in a research note on Friday, February 6th. Robert W. Baird set a $67.00 target price on shares of Terreno Realty in a report on Wednesday, February 11th. Citigroup raised their price target on shares of Terreno Realty from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Weiss Ratings upgraded Terreno Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 22nd. Finally, Piper Sandler boosted their price objective on Terreno Realty from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Terreno Realty presently has an average rating of “Moderate Buy” and an average price target of $69.36.

About Terreno Realty

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.