Principal Securities Inc. Takes Position in Terreno Realty Co. (NYSE:TRNO)

Principal Securities Inc. bought a new stake in shares of Terreno Realty Co. (NYSE:TRNO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,219 shares of the real estate investment trust’s stock, valued at approximately $76,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Terreno Realty by 1.4% during the third quarter. Vanguard Group Inc. now owns 11,919,178 shares of the real estate investment trust’s stock valued at $677,009,000 after buying an additional 168,728 shares during the period. Wellington Management Group LLP grew its position in Terreno Realty by 8.4% during the third quarter. Wellington Management Group LLP now owns 598,005 shares of the real estate investment trust’s stock valued at $33,967,000 after buying an additional 46,475 shares during the period. Townsquare Capital LLC grew its position in Terreno Realty by 12.0% during the third quarter. Townsquare Capital LLC now owns 22,073 shares of the real estate investment trust’s stock valued at $1,254,000 after buying an additional 2,364 shares during the period. Wolverine Asset Management LLC grew its position in Terreno Realty by 63.9% during the third quarter. Wolverine Asset Management LLC now owns 27,224 shares of the real estate investment trust’s stock valued at $1,546,000 after buying an additional 10,617 shares during the period. Finally, Invesco Ltd. grew its position in Terreno Realty by 11.1% during the third quarter. Invesco Ltd. now owns 4,113,232 shares of the real estate investment trust’s stock valued at $233,632,000 after buying an additional 411,973 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRNO. Mizuho boosted their target price 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. JMP Securities reiterated a “market outperform” rating and issued a $65.00 price target on shares of Terreno Realty in a research report on Monday, May 13th. Barclays began coverage on shares of Terreno Realty in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $71.00 price target for the company. StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, Wedbush reiterated a “neutral” rating and issued a $57.00 price target (down from $67.00) on shares of Terreno Realty in a research report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $64.56.

Terreno Realty Price Performance

Terreno Realty stock opened at $57.48 on Thursday. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 2.83 and a beta of 0.85. The firm’s fifty day moving average is $59.21 and its 200 day moving average is $60.23. The company has a quick ratio of 10.17, a current ratio of 10.17 and a debt-to-equity ratio of 0.23. Terreno Realty Co. has a 52-week low of $50.42 and a 52-week high of $66.63.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, June 28th. Terreno Realty’s dividend payout ratio is currently 93.75%.

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.