Teacher Retirement System of Texas Increases Stock Holdings in Terreno Realty Co. (NYSE:TRNO)

Teacher Retirement System of Texas raised its stake in shares of Terreno Realty Co. (NYSE:TRNO) by 185.0% during the fourth quarter, Holdings Channel reports. The firm owned 31,398 shares of the real estate investment trust’s stock after buying an additional 20,380 shares during the quarter. Teacher Retirement System of Texas’ holdings in Terreno Realty were worth $1,857,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TRNO. Pathstone Holdings LLC raised its position in shares of Terreno Realty by 4.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,624 shares of the real estate investment trust’s stock worth $1,579,000 after acquiring an additional 995 shares in the last quarter. Citigroup Inc. grew its stake in Terreno Realty by 48.5% in the third quarter. Citigroup Inc. now owns 103,289 shares of the real estate investment trust’s stock worth $6,903,000 after purchasing an additional 33,743 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Terreno Realty by 5.3% in the third quarter. The Manufacturers Life Insurance Company now owns 70,103 shares of the real estate investment trust’s stock worth $4,685,000 after purchasing an additional 3,519 shares in the last quarter. FMR LLC lifted its position in Terreno Realty by 16.4% during the third quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock valued at $708,348,000 after buying an additional 1,496,666 shares during the period. Finally, D.A. Davidson & CO. bought a new stake in shares of Terreno Realty during the 3rd quarter valued at $259,000.

Terreno Realty Stock Down 1.4 %

TRNO opened at $63.10 on Friday. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 2.82 and a beta of 0.93. The firm has a 50 day moving average price of $66.08 and a 200-day moving average price of $63.70. Terreno Realty Co. has a twelve month low of $53.78 and a twelve month high of $71.63. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. Equities research analysts forecast that Terreno Realty Co. will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s payout ratio is currently 102.08%.

Analyst Ratings Changes

A number of research analysts recently issued reports on TRNO shares. BMO Capital Markets lifted their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Piper Sandler cut their price target on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $77.00 in a research note on Friday, February 21st. JMP Securities reissued a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $69.09.

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 All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.