New York State Teachers Retirement System Acquires Shares of 22,700 Terreno Realty Co. (NYSE:TRNO)

New York State Teachers Retirement System acquired a new stake in shares of Terreno Realty Co. (NYSE:TRNO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 22,700 shares of the real estate investment trust’s stock, valued at approximately $1,342,000.

A number of other institutional investors have also modified their holdings of TRNO. Creative Planning increased its stake in shares of Terreno Realty by 20.2% in the 3rd quarter. Creative Planning now owns 5,765 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 968 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Terreno Realty by 6,580.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 987 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Terreno Realty by 35.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,753 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 986 shares in the last quarter. Diversify Wealth Management LLC increased its stake in shares of Terreno Realty by 14.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 4,959 shares of the real estate investment trust’s stock valued at $316,000 after purchasing an additional 625 shares in the last quarter. Finally, Financial Advocates Investment Management purchased a new position in shares of Terreno Realty in the 3rd quarter valued at about $205,000.

Terreno Realty Trading Up 0.4 %

TRNO opened at $67.08 on Monday. Terreno Realty Co. has a one year low of $53.78 and a one year high of $71.63. The stock has a market capitalization of $6.69 billion, a PE ratio of 34.94, a P/E/G ratio of 2.82 and a beta of 0.91. The business’s 50 day moving average price is $62.66 and its 200 day moving average price is $64.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. As a group, equities research analysts expect that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s payout ratio is 102.08%.

Analyst Upgrades and Downgrades

TRNO has been the subject of several recent analyst reports. Piper Sandler cut their price target on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Barclays restated an “equal weight” rating and issued a $60.00 price target (down previously from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. JMP Securities reiterated a “market outperform” rating and issued a $72.00 price objective on shares of Terreno Realty in a report on Monday, February 10th. BMO Capital Markets lifted their price objective on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $77.00 in a report on Friday. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $69.27.

Terreno Realty Company 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.