Bahl & Gaynor Inc. Acquires 37,113 Shares of Terreno Realty Co. (NYSE:TRNO)

Bahl & Gaynor Inc. boosted its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 430,820 shares of the real estate investment trust’s stock after buying an additional 37,113 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.43% of Terreno Realty worth $25,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FMR LLC grew its stake in shares of Terreno Realty by 16.4% during the 3rd quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock valued at $708,348,000 after acquiring an additional 1,496,666 shares during the period. Geode Capital Management LLC boosted its position in shares of Terreno Realty by 0.4% in the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock worth $161,423,000 after purchasing an additional 8,940 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Terreno Realty by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,838,503 shares of the real estate investment trust’s stock worth $108,729,000 after purchasing an additional 110,610 shares in the last quarter. Copeland Capital Management LLC raised its position in shares of Terreno Realty by 7.1% during the 4th quarter. Copeland Capital Management LLC now owns 1,209,144 shares of the real estate investment trust’s stock valued at $71,509,000 after purchasing an additional 79,701 shares during the period. Finally, Tandem Investment Advisors Inc. lifted its stake in shares of Terreno Realty by 5.1% during the 4th quarter. Tandem Investment Advisors Inc. now owns 1,081,224 shares of the real estate investment trust’s stock valued at $63,944,000 after buying an additional 52,785 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have issued reports on TRNO. BMO Capital Markets increased their price target on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. Scotiabank lifted their target price on Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a research note on Friday. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and upped their price target for the stock from $65.00 to $77.00 in a research note on Friday, February 21st. Piper Sandler reduced their price objective on shares of 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, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $60.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $69.36.

Terreno Realty Price Performance

TRNO stock opened at $67.42 on Tuesday. Terreno Realty Co. has a 52 week low of $53.78 and a 52 week high of $71.63. The firm has a market capitalization of $6.73 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 2.82 and a beta of 0.91. The company has a fifty day simple moving average of $63.55 and a two-hundred day simple moving average of $63.99. 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 announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. Analysts anticipate that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently announced 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 2.91%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s dividend payout ratio is currently 102.08%.

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.