Citigroup Inc. grew its position in Terreno Realty Co. (NYSE:TRNO – Free Report) by 122.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,031 shares of the real estate investment trust’s stock after purchasing an additional 30,838 shares during the period. Citigroup Inc.’s holdings in Terreno Realty were worth $3,367,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of TRNO. Federated Hermes Inc. purchased a new stake in shares of Terreno Realty during the 1st quarter worth approximately $25,000. Point72 Hong Kong Ltd purchased a new stake in Terreno Realty during the first quarter valued at about $28,000. Lazard Asset Management LLC purchased a new stake in Terreno Realty during the fourth quarter valued at about $89,000. Baird Financial Group Inc. bought a new position in Terreno Realty during the fourth quarter worth about $206,000. Finally, Manchester Capital Management LLC increased its stake in shares of Terreno Realty by 19.4% in the first quarter. Manchester Capital Management LLC now owns 3,249 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 528 shares in the last quarter.
Terreno Realty Stock Up 0.5 %
Shares of NYSE:TRNO opened at $56.32 on Tuesday. Terreno Realty Co. has a 52-week low of $50.42 and a 52-week high of $67.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a 50 day moving average price of $55.38 and a 200-day moving average price of $58.30. The firm has a market capitalization of $4.81 billion, a P/E ratio of 29.49, a P/E/G ratio of 2.82 and a beta of 0.84.
Terreno Realty (NYSE:TRNO – Get Free Report) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.20). The business had revenue of $82.92 million for the quarter, compared to analysts’ expectations of $80.70 million. Terreno Realty had a net margin of 48.75% and a return on equity of 5.98%. As a group, equities research analysts anticipate that Terreno Realty Co. will post 2.21 EPS for the current fiscal year.
Terreno Realty Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.80 dividend on an annualized basis and a yield of 3.20%. Terreno Realty’s dividend payout ratio is presently 94.24%.
Wall Street Analyst Weigh In
TRNO has been the topic of several recent research reports. Piper Sandler dropped their target price on Terreno Realty from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, November 10th. StockNews.com cut shares of Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. JMP Securities reiterated a “market outperform” rating and issued a $71.00 price objective on shares of Terreno Realty in a research report on Thursday, October 12th. Finally, Wedbush assumed coverage on shares of Terreno Realty in a report on Tuesday, October 3rd. They issued a “neutral” rating and a $60.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $68.17.
Get Our Latest Stock Report on TRNO
Terreno Realty Profile
Terreno Realty Corporation (“Terreno”, and together with its subsidiaries, “we”, “us”, “our”, “our Company”, or “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 We invest in several types of industrial real estate, including warehouse/distribution (approximately 76.3% of our total annualized base rent as of September 30, 2023), flex (including light industrial and research and development, or R&D) (approximately 3.8%), transshipment (approximately 6.7%) and improved land (approximately 13.2%).
See Also
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ABMN Staff
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