Advisors Asset Management Inc. grew its holdings in Terreno Realty Co. (NYSE:TRNO – Get Rating) by 35.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,179 shares of the real estate investment trust’s stock after buying an additional 1,889 shares during the period. Advisors Asset Management Inc.’s holdings in Terreno Realty were worth $400,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. DigitalBridge Group Inc. lifted its holdings in Terreno Realty by 3,411.0% during the 1st quarter. DigitalBridge Group Inc. now owns 6,073,950 shares of the real estate investment trust’s stock worth $22,438,000 after purchasing an additional 5,900,950 shares during the last quarter. State Street Corp lifted its holdings in Terreno Realty by 18.7% during the 1st quarter. State Street Corp now owns 3,642,466 shares of the real estate investment trust’s stock worth $270,935,000 after purchasing an additional 574,544 shares during the last quarter. Bernzott Capital Advisors acquired a new stake in Terreno Realty during the 2nd quarter worth approximately $22,251,000. Vanguard Group Inc. lifted its holdings in Terreno Realty by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 10,954,204 shares of the real estate investment trust’s stock worth $811,159,000 after purchasing an additional 341,279 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Terreno Realty by 6.2% during the 1st quarter. Principal Financial Group Inc. now owns 5,107,697 shares of the real estate investment trust’s stock worth $378,224,000 after acquiring an additional 296,605 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. BTIG Research lowered their price objective on Terreno Realty from $94.00 to $74.00 and set a “buy” rating on the stock in a research note on Monday, October 17th. Stifel Nicolaus assumed coverage on Terreno Realty in a research note on Wednesday, October 12th. They set a “buy” rating and a $62.00 price objective on the stock. JMP Securities decreased their price target on Terreno Realty from $75.00 to $69.00 and set a “market outperform” rating on the stock in a research note on Monday, October 10th. Piper Sandler decreased their price target on Terreno Realty from $73.00 to $69.00 and set an “overweight” rating on the stock in a research note on Friday, October 7th. Finally, Scotiabank lowered Terreno Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $73.00 to $54.00 in a research note on Monday, October 17th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.90.
Terreno Realty Trading Up 1.4 %
Terreno Realty Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.74%. Terreno Realty’s payout ratio is currently 70.48%.
About Terreno Realty
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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