Congress Asset Management Co. Grows Position in Terreno Realty Corporation $TRNO

Congress Asset Management Co. raised its stake in Terreno Realty Corporation (NYSE:TRNO) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 566,448 shares of the real estate investment trust’s stock after acquiring an additional 20,890 shares during the quarter. Congress Asset Management Co. owned approximately 0.55% of Terreno Realty worth $33,256,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Strs Ohio raised its position in shares of Terreno Realty by 131.6% in the third quarter. Strs Ohio now owns 286,300 shares of the real estate investment trust’s stock valued at $16,248,000 after buying an additional 162,700 shares during the last quarter. Castellan Group purchased a new position in shares of Terreno Realty during the third quarter valued at approximately $3,578,000. Bessemer Group Inc. boosted its position in Terreno Realty by 16.5% during the third quarter. Bessemer Group Inc. now owns 564,695 shares of the real estate investment trust’s stock worth $32,046,000 after acquiring an additional 79,964 shares during the last quarter. DigitalBridge Group Inc. boosted its position in Terreno Realty by 29.0% during the third quarter. DigitalBridge Group Inc. now owns 346,700 shares of the real estate investment trust’s stock worth $18,649,000 after acquiring an additional 78,000 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Terreno Realty by 4.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,181,288 shares of the real estate investment trust’s stock worth $67,038,000 after acquiring an additional 53,380 shares during the period.

Analysts Set New Price Targets

TRNO has been the subject of several analyst reports. KeyCorp boosted their price target on Terreno Realty from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, February 9th. UBS Group set a $72.00 price objective on Terreno Realty in a research report on Monday, February 9th. Robert W. Baird set a $67.00 target price on Terreno Realty in a research note on Wednesday, February 11th. iA Financial set a $75.00 target price on Terreno Realty in a research report on Friday, February 6th. Finally, Weiss Ratings raised Terreno Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

Terreno Realty Stock Performance

NYSE:TRNO opened at $60.99 on Wednesday. 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 company has a market cap of $6.48 billion, a P/E ratio of 15.64 and a beta of 1.12. Terreno Realty Corporation has a fifty-two week low of $48.18 and a fifty-two week high of $66.74. The firm’s 50 day moving average is $63.53 and its two-hundred day moving average is $61.08.

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

Terreno Realty Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, March 27th. This represents a $2.08 dividend on an annualized basis and a yield of 3.4%. Terreno Realty’s dividend payout ratio (DPR) is presently 53.33%.

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.