DnB Asset Management AS Takes Position in Terreno Realty Co. (NYSE:TRNO)

DnB Asset Management AS purchased a new position in shares of Terreno Realty Co. (NYSE:TRNO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,895 shares of the real estate investment trust’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Manchester Capital Management LLC purchased a new position in shares of Terreno Realty during the 4th quarter worth approximately $27,000. Steward Partners Investment Advisory LLC grew its holdings in Terreno Realty by 176.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 361 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Terreno Realty in the fourth quarter worth $76,000. Verition Fund Management LLC acquired a new stake in Terreno Realty in the third quarter valued at $225,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Terreno Realty during the 4th quarter worth $202,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on TRNO shares. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $77.00 in a research note on Friday, February 21st. Barclays reduced their price target on shares of Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 25th. BMO Capital Markets upped their price target on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft started coverage on Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective for the company. Finally, Piper Sandler lowered their target price on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Terreno Realty currently has a consensus rating of “Hold” and a consensus price target of $69.09.

Terreno Realty Stock Performance

NYSE:TRNO opened at $63.86 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market cap of $6.58 billion, a PE ratio of 33.26, a P/E/G ratio of 2.82 and a beta of 0.93. The firm has a 50 day simple moving average of $66.12 and a 200-day simple moving average of $63.52. Terreno Realty Co. has a 1-year low of $53.78 and a 1-year high of $71.63.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. On average, equities analysts expect that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is 102.08%.

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.