Park Avenue Securities LLC Takes Position in Terreno Realty Co. (NYSE:TRNO)

Park Avenue Securities LLC bought a new stake in shares of Terreno Realty Co. (NYSE:TRNOGet Rating) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,247 shares of the real estate investment trust’s stock, valued at approximately $225,000.

Several other large investors have also recently made changes to their positions in the business. Truist Financial Corp lifted its holdings in shares of Terreno Realty by 1.6% during the second quarter. Truist Financial Corp now owns 10,833 shares of the real estate investment trust’s stock valued at $604,000 after purchasing an additional 167 shares during the last quarter. Sage Rhino Capital LLC raised its holdings in Terreno Realty by 0.9% in the 3rd quarter. Sage Rhino Capital LLC now owns 23,794 shares of the real estate investment trust’s stock worth $1,261,000 after acquiring an additional 207 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Terreno Realty by 46.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 669 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 212 shares during the last quarter. Arizona State Retirement System raised its holdings in Terreno Realty by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 20,459 shares of the real estate investment trust’s stock worth $1,140,000 after acquiring an additional 234 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its holdings in Terreno Realty by 6.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,948 shares of the real estate investment trust’s stock worth $320,000 after acquiring an additional 253 shares during the last quarter. 98.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Scotiabank lowered shares of Terreno Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $73.00 to $54.00 in a report on Monday, October 17th. BTIG Research cut their target price on shares of Terreno Realty from $94.00 to $74.00 and set a “buy” rating for the company in a research report on Monday, October 17th. Piper Sandler cut their target price on shares of Terreno Realty from $73.00 to $69.00 and set an “overweight” rating for the company in a research report on Friday, October 7th. TheStreet raised shares of Terreno Realty from a “c+” rating to a “b-” rating in a research report on Wednesday, November 30th. Finally, Stifel Nicolaus began coverage on shares of Terreno Realty in a research report on Wednesday, October 12th. They issued a “buy” rating and a $62.00 target price for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.67.

Insider Buying and Selling

In related news, Director Leroy E. Carlson sold 4,000 shares of the company’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $58.49, for a total value of $233,960.00. Following the completion of the transaction, the director now owns 37,791 shares of the company’s stock, valued at approximately $2,210,395.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is currently owned by insiders.

Terreno Realty Trading Down 0.5 %

Shares of TRNO stock opened at $63.46 on Wednesday. Terreno Realty Co. has a 1 year low of $50.36 and a 1 year high of $81.01. The firm has a fifty day moving average price of $58.58 and a 200-day moving average price of $58.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.18 and a quick ratio of 0.18. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 27.96 and a beta of 0.78.

Terreno Realty (NYSE:TRNOGet Rating) last issued its earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.21). The firm had revenue of $70.80 million during the quarter, compared to the consensus estimate of $66.95 million. Terreno Realty had a return on equity of 8.14% and a net margin of 65.44%. As a group, equities analysts predict that Terreno Realty Co. will post 1.97 earnings per share for the current year.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, December 29th. Terreno Realty’s dividend payout ratio is currently 70.48%.

Terreno Realty Company Profile

(Get Rating)

Terreno Realty Corp. operates as a real estate company, which acquires, owns, and manages industrial properties. It invests in several types of industrial real estate, including warehouse/distribution, flex, research and development, and trans-shipment. The company was founded by Michael A. Coke and W.

See Also

Institutional Ownership by Quarter for Terreno Realty (NYSE:TRNO)

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