California Public Employees Retirement System lowered its position in shares of Terreno Realty Corporation (NYSE:TRNO) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,600 shares of the real estate investment trust’s stock after selling 3,500 shares during the period. California Public Employees Retirement System owned 0.18% of Terreno Realty Corporation worth $2,313,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in TRNO. Karp Capital Management Corp acquired a new position in shares of Terreno Realty Corporation during the first quarter valued at about $265,000. UBS Asset Management Americas Inc. boosted its position in shares of Terreno Realty Corporation by 24.7% in the first quarter. UBS Asset Management Americas Inc. now owns 78,304 shares of the real estate investment trust’s stock valued at $2,193,000 after buying an additional 15,522 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Terreno Realty Corporation by 1.7% in the first quarter. BNP Paribas Arbitrage SA now owns 16,853 shares of the real estate investment trust’s stock valued at $472,000 after buying an additional 282 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Terreno Realty Corporation by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 337,853 shares of the real estate investment trust’s stock valued at $9,460,000 after buying an additional 24,780 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its position in shares of Terreno Realty Corporation by 11.9% in the first quarter. New Mexico Educational Retirement Board now owns 6,600 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 700 shares in the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.
Shares of Terreno Realty Corporation (NYSE:TRNO) traded up 0.56% during mid-day trading on Wednesday, hitting $35.68. 163,733 shares of the stock were exchanged. The company has a market capitalization of $1.85 billion, a PE ratio of 75.27 and a beta of 0.83. Terreno Realty Corporation has a 12-month low of $24.81 and a 12-month high of $35.80. The firm has a 50-day moving average price of $33.98 and a 200 day moving average price of $30.82.
Terreno Realty Corporation (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.01. Terreno Realty Corporation had a net margin of 20.91% and a return on equity of 3.13%. The business had revenue of $32.78 million for the quarter, compared to analyst estimates of $31.72 million. On average, equities research analysts expect that Terreno Realty Corporation will post $0.48 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Terreno Realty Corporation’s previous quarterly dividend of $0.20.
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Several analysts recently commented on TRNO shares. Jefferies Group LLC restated a “hold” rating and set a $35.00 price target (up from $29.00) on shares of Terreno Realty Corporation in a report on Friday, June 23rd. Stifel Nicolaus restated a “buy” rating and set a $34.50 price target on shares of Terreno Realty Corporation in a report on Friday, July 14th. Zacks Investment Research cut shares of Terreno Realty Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, April 20th. National Securities cut shares of Terreno Realty Corporation from a “buy” rating to a “neutral” rating and lifted their target price for the company from $29.00 to $33.00 in a research note on Thursday, May 11th. Finally, Wunderlich lifted their target price on shares of Terreno Realty Corporation from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, May 8th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Terreno Realty Corporation presently has a consensus rating of “Hold” and a consensus target price of $32.13.
About Terreno Realty Corporation
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
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