Phocas Financial Corp. Decreases Stake in Terreno Realty Co. (NYSE:TRNO)

Phocas Financial Corp. reduced its stake in shares of Terreno Realty Co. (NYSE:TRNO) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,799 shares of the real estate investment trust’s stock after selling 717 shares during the quarter. Phocas Financial Corp. owned about 0.13% of Terreno Realty worth $6,719,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new stake in Terreno Realty during the first quarter worth approximately $25,000. Point72 Hong Kong Ltd bought a new stake in Terreno Realty during the first quarter worth approximately $28,000. Ronald Blue Trust Inc. increased its stake in Terreno Realty by 68.7% during the first quarter. Ronald Blue Trust Inc. now owns 847 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 345 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Terreno Realty during the fourth quarter worth approximately $89,000. Finally, Dupont Capital Management Corp bought a new stake in Terreno Realty during the first quarter worth approximately $124,000.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TRNO shares. Citigroup started coverage on Terreno Realty in a research note on Wednesday, July 19th. They set a “neutral” rating and a $63.00 target price on the stock. StockNews.com started coverage on Terreno Realty in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group started coverage on Terreno Realty in a research note on Tuesday, July 11th. They set a “neutral” rating and a $65.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Terreno Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.29.

Terreno Realty Trading Down 0.7 %

Shares of NYSE TRNO traded down $0.45 during trading hours on Tuesday, reaching $60.54. The stock had a trading volume of 65,869 shares, compared to its average volume of 540,958. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.30. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 33.14, a P/E/G ratio of 3.07 and a beta of 0.80. The business’s fifty day moving average price is $59.88 and its two-hundred day moving average price is $60.69. Terreno Realty Co. has a 52-week low of $50.36 and a 52-week high of $67.03.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The firm had revenue of $79.54 million during the quarter, compared to analysts’ expectations of $77.84 million. Terreno Realty had a net margin of 48.07% and a return on equity of 6.01%. Analysts expect that Terreno Realty Co. will post 2.2 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.40. Terreno Realty’s dividend payout ratio is currently 86.96%.

Insider Activity

In other news, President Michael A. Coke sold 10,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $59.60, for a total transaction of $596,000.00. Following the completion of the sale, the president now owns 395,988 shares in the company, valued at approximately $23,600,884.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.

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 We invest in several types of industrial real estate, including warehouse/distribution (approximately 79.5% of our total annualized base rent as of December 31, 2021), flex (including light industrial and research and development, or R&D) (approximately 4.8%), transshipment (approximately 6.4%) and improved land (approximately 9.3%).