Phocas Financial Corp. Sells 104,277 Shares of Terreno Realty Co. (NYSE:TRNO)

Phocas Financial Corp. decreased its position in Terreno Realty Co. (NYSE:TRNO) by 85.0% during the fourth quarter, Holdings Channel reports. The fund owned 18,386 shares of the real estate investment trust’s stock after selling 104,277 shares during the period. Phocas Financial Corp.’s holdings in Terreno Realty were worth $1,087,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Stifel Financial Corp grew its holdings in Terreno Realty by 39.3% during the third quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock valued at $6,156,000 after purchasing an additional 25,988 shares during the period. Barclays PLC grew its stake in shares of Terreno Realty by 131.0% during the 3rd quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock valued at $11,360,000 after acquiring an additional 96,380 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Terreno Realty by 22.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock valued at $115,475,000 after acquiring an additional 315,506 shares during the period. Geode Capital Management LLC increased its holdings in Terreno Realty by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock worth $161,423,000 after acquiring an additional 8,940 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in Terreno Realty during the 3rd quarter worth approximately $225,000.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 target price for the company. The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and raised their price target for the company from $65.00 to $77.00 in a report on Friday, February 21st. Piper Sandler lowered their price objective on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Barclays reiterated an “equal weight” rating and set a $60.00 target price (down previously from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $69.27.

Terreno Realty Price Performance

Shares of TRNO stock opened at $67.26 on Wednesday. The company has a market cap of $6.71 billion, a P/E ratio of 35.03, a PEG ratio of 2.82 and a beta of 0.91. The stock’s 50-day moving average is $62.86 and its 200 day moving average is $64.00. Terreno Realty Co. has a 1-year low of $53.78 and a 1-year high of $71.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23.

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

Terreno Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be given a $0.49 dividend. The ex-dividend date is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.91%. Terreno Realty’s payout ratio is 102.08%.

Terreno Realty 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.