New York Life Investment Management LLC Has $1.76 Million Stake in Terreno Realty Co. (NYSE:TRNO)

New York Life Investment Management LLC increased its stake in Terreno Realty Co. (NYSE:TRNO) by 651.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,103 shares of the real estate investment trust’s stock after purchasing an additional 24,365 shares during the period. New York Life Investment Management LLC’s holdings in Terreno Realty were worth $1,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new stake in Terreno Realty in the 4th quarter valued at approximately $35,000. Blue Trust Inc. boosted its holdings in Terreno Realty by 84.2% during the fourth quarter. Blue Trust Inc. now owns 989 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 452 shares during the last quarter. Dfpg Investments LLC bought a new position in Terreno Realty in the fourth quarter valued at $200,000. Covestor Ltd increased its stake in Terreno Realty by 16.9% in the 3rd quarter. Covestor Ltd now owns 3,561 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 514 shares during the last quarter. Finally, Prudent Man Advisors LLC bought a new stake in Terreno Realty during the 3rd quarter worth about $204,000.

Terreno Realty Trading Down 1.4 %

Shares of Terreno Realty stock opened at $54.10 on Tuesday. Terreno Realty Co. has a 52-week low of $50.42 and a 52-week high of $66.63. 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 firm has a 50-day moving average of $61.10 and a 200-day moving average of $59.98. The stock has a market cap of $5.22 billion, a PE ratio of 29.89, a PEG ratio of 2.52 and a beta of 0.85.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.58 by $0.10. The company had revenue of $86.48 million for the quarter, compared to analysts’ expectations of $84.06 million. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. As a group, sell-side analysts forecast that Terreno Realty Co. will post 2.42 EPS for the current year.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 28th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Wednesday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is presently 99.45%.

Analysts Set New Price Targets

Several analysts recently issued reports on TRNO shares. JMP Securities reiterated a “market outperform” rating and set a $65.00 target price on shares of Terreno Realty in a report on Thursday, March 28th. Scotiabank upped their price target on shares of Terreno Realty from $64.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. Mizuho lifted their price objective on shares of Terreno Realty from $52.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group raised their target price on shares of Terreno Realty from $60.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Finally, Barclays initiated 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. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $67.11.

About Terreno Realty

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.