Terreno Realty Co. (NYSE:TRNO) Stock Position Decreased by Sage Rhino Capital LLC

Sage Rhino Capital LLC cut its position in shares of Terreno Realty Co. (NYSE:TRNO) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,735 shares of the real estate investment trust’s stock after selling 2,075 shares during the period. Sage Rhino Capital LLC’s holdings in Terreno Realty were worth $1,362,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Terreno Realty by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,919,178 shares of the real estate investment trust’s stock valued at $677,009,000 after acquiring an additional 168,728 shares in the last quarter. FMR LLC raised its stake in shares of Terreno Realty by 10.3% in the 3rd quarter. FMR LLC now owns 5,260,376 shares of the real estate investment trust’s stock valued at $298,789,000 after acquiring an additional 493,182 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Terreno Realty by 0.9% in the 3rd quarter. Principal Financial Group Inc. now owns 4,475,199 shares of the real estate investment trust’s stock valued at $254,189,000 after acquiring an additional 39,020 shares in the last quarter. Invesco Ltd. raised its stake in shares of Terreno Realty by 11.1% in the 3rd quarter. Invesco Ltd. now owns 4,113,232 shares of the real estate investment trust’s stock valued at $233,632,000 after acquiring an additional 411,973 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Terreno Realty by 2.5% in the 3rd quarter. Northern Trust Corp now owns 1,352,836 shares of the real estate investment trust’s stock valued at $76,841,000 after acquiring an additional 32,391 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TRNO. Barclays began coverage on Terreno Realty in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $71.00 price objective on the stock. Scotiabank lifted their price target on Terreno Realty from $64.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. The Goldman Sachs Group lifted their price target on Terreno Realty from $60.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Mizuho lifted their price target on Terreno Realty from $52.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Piper Sandler lifted their price objective on Terreno Realty from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $67.11.

Terreno Realty Price Performance

Terreno Realty stock traded down $0.78 on Tuesday, reaching $54.32. The company’s stock had a trading volume of 523,224 shares, compared to its average volume of 708,967. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.68 and a current ratio of 2.68. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 2.49 and a beta of 0.81. The business’s fifty day moving average price is $61.95 and its 200 day moving average price is $59.99. Terreno Realty Co. has a twelve month low of $50.42 and a twelve month high of $66.63.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. The company had revenue of $86.48 million for the quarter, compared to analyst estimates of $84.06 million. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. Equities analysts expect that Terreno Realty Co. will post 2.42 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, March 28th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.31%. Terreno Realty’s payout ratio is currently 99.45%.

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.