Wolverine Asset Management LLC has acquired a new stake in Terreno Realty Co. (NYSE: TRNO – Get a rating) in the 1st trimester, HoldingsChannel reports. The company purchased 1,882 shares of the real estate investment trust, valued at approximately $139,000.
Several other large investors also changed their positions in TRNO. Goldman Sachs Group Inc. increased its stake in Terreno Realty shares by 41.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,186,272 shares of the real estate investment trust valued at $186,466,000 after buying an additional 637,530 shares last quarter. Aew Capital Management LP increased its stake in Terreno Realty shares by 77.7% in Q4. Aew Capital Management LP now owns 956,218 shares of the real estate investment trust worth $81,556,000 after buying an additional 418,168 shares last quarter. JPMorgan Chase & Co. increased its stake in Terreno Realty shares by 21.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,160,269 shares of the real estate investment trust valued at $184,249,000 after buying an additional 379,981 shares last quarter. State Street Corp increased its stake in Terreno Realty shares by 11.6% in the fourth quarter. State Street Corp now owns 3,067,922 shares of the real estate investment trust valued at $262,659,000 after buying an additional 318,586 shares last quarter. Finally, Waratah Capital Advisors Ltd. increased its stake in the shares of Terreno Realty by 1,648.6% in the 4th quarter. Waratah Capital Advisors Ltd. now owns 331,134 shares of the real estate investment trust worth $28,242,000 after purchasing an additional 312,197 shares last quarter.
Terreno Realty Stock down 0.5%
TRNO opened at $62.19 on Wednesday. The company has a 50-day moving average of $58.48 and a 200-day moving average of $66.67. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt ratio of 0.36. The stock has a market capitalization of $4.70 billion, a price-earnings ratio of 49.75 and a beta of 0.75. Terreno Realty Co. has a 1 year minimum of $54.51 and a 1 year maximum of $86.00.
Terreno Immobilier (NYSE: TRNO – Get a rating) last reported results on Wednesday, May 4. The real estate investment trust reported EPS of $0.26 for the quarter, missing analyst consensus estimates of $0.46 per ($0.20). The company posted revenue of $64.04 million in the quarter, versus analyst estimates of $62.16 million. Terreno Realty had a net margin of 38.50% and a return on equity of 4.79%. As a group, sell-side analysts expect Terreno Realty Co. to post 1.92 earnings per share for the current year.
Terreno Realty Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, July 14. Investors of record on Thursday, June 30 received a dividend of $0.34. The ex-dividend date was Wednesday, June 29. This represents a dividend of $1.36 on an annualized basis and a dividend yield of 2.19%. Terreno Realty’s payout ratio is 108.80%.
Insider Activity at Terreno Realty
In other news, CEO Blake Baird bought 1,000 shares of the company in a transaction that took place on Monday, May 9. The shares were acquired at an average cost of $64.00 per share, for a total transaction of $64,000.00. Following the completion of the purchase, the CEO now owns 588,376 shares of the company, valued at approximately $37,656,064. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the shares are currently held by company insiders.
A Wall Street analyst gives his opinion
A number of equity research analysts have published reports on the company. Piper Sandler lowered her price target on Terreno Realty to $73.00 in a Monday, July 4 research report. Jefferies Financial Group cut its price target on Terreno Realty from $88.00 to $68.00 and set a “buy” rating for the company in a Thursday, June 30 research report. Goldman Sachs Group cut its price target on Terreno Realty from $79.00 to $70.00 and set a “neutral” rating for the company in a Thursday, June 16 research report. JMP Securities supported Terreno Realty coverage in a Wednesday, May 18 research report. They set an “outperform” rating and a target price of $75.00 for the company. Finally, Mizuho lowered its target price on Terreno Realty from $76.00 to $64.00 and set an “na” rating for the company in a Tuesday, May 17 research report. Three analysts gave the stock a hold rating and five gave the company a buy rating. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.33.
Company Profile Terreno Realty
Terreno Realty Corporation and with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major U.S. coastal markets: Los Angeles, Northern New Jersey/New York, San Francisco Bay Area, Seattle, Miami and Washington, DC All square feet, acres, occupancy and property counts disclosed in these condensed notes to the consolidated financial statements are unaudited.
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