Arizona State Retirement System increased its position in shares of Terreno Realty Co. (NYSE:TRNO – Get Rating) by 6.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,225 shares of the real estate investment trust’s stock after purchasing an additional 1,244 shares during the period. Arizona State Retirement System’s holdings in Terreno Realty were worth $1,498,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp boosted its position in Terreno Realty by 1.0% in the 1st quarter. Fifth Third Bancorp now owns 14,410 shares of the real estate investment trust’s stock valued at $1,067,000 after buying an additional 142 shares during the period. Xponance Inc. boosted its position in Terreno Realty by 6.9% in the 4th quarter. Xponance Inc. now owns 3,493 shares of the real estate investment trust’s stock valued at $298,000 after buying an additional 226 shares during the period. HHM Wealth Advisors LLC purchased a new stake in Terreno Realty in the 1st quarter valued at about $28,000. USA Financial Portformulas Corp purchased a new stake in Terreno Realty in the 4th quarter valued at about $39,000. Finally, Advisor Group Holdings Inc. boosted its position in Terreno Realty by 15.2% in the 4th quarter. Advisor Group Holdings Inc. now owns 3,695 shares of the real estate investment trust’s stock valued at $315,000 after buying an additional 488 shares during the period.
Analyst Upgrades and Downgrades
Several research firms have recently commented on TRNO. Piper Sandler reduced their price target on shares of Terreno Realty to $73.00 in a report on Monday, July 4th. Jefferies Financial Group reduced their price target on shares of Terreno Realty from $88.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, June 30th. TheStreet lowered shares of Terreno Realty from a “b” rating to a “c+” rating in a report on Thursday, May 19th. JMP Securities began coverage on shares of Terreno Realty in a report on Wednesday, May 18th. They issued an “outperform” rating and a $75.00 price target for the company. Finally, Mizuho reduced their price target on shares of Terreno Realty from $76.00 to $64.00 and set a “na” rating for the company in a report on Tuesday, May 17th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $74.33.
Terreno Realty Trading Down 0.2 %
Terreno Realty (NYSE:TRNO – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.20). Terreno Realty had a net margin of 38.50% and a return on equity of 4.79%. The company had revenue of $64.04 million for the quarter, compared to analyst estimates of $62.16 million. As a group, sell-side analysts forecast that Terreno Realty Co. will post 1.92 EPS for the current fiscal year.
Terreno Realty Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 14th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.36 dividend on an annualized basis and a yield of 2.17%. Terreno Realty’s payout ratio is 108.80%.
Insider Buying and Selling at Terreno Realty
In related news, CEO W Blake Baird purchased 1,000 shares of the business’s stock in a transaction on Monday, May 9th. The shares were acquired at an average price of $64.00 per share, for a total transaction of $64,000.00. Following the purchase, the chief executive officer now owns 588,376 shares of the company’s stock, valued at approximately $37,656,064. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by company insiders.
Terreno Realty Profile
Terreno Realty Corporation 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 condensed notes to the consolidated financial statements are unaudited.
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