Raymond James Financial Inc. Makes New $19.79 Million Investment in Terreno Realty Co. (NYSE:TRNO)

Raymond James Financial Inc. bought a new position in shares of Terreno Realty Co. (NYSE:TRNO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 334,662 shares of the real estate investment trust’s stock, valued at approximately $19,792,000. Raymond James Financial Inc. owned about 0.34% of Terreno Realty at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in Terreno Realty by 2,381.3% during the 3rd quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 381 shares during the last quarter. Manchester Capital Management LLC bought a new stake in Terreno Realty during the 4th quarter worth approximately $27,000. Steward Partners Investment Advisory LLC grew its holdings in Terreno Realty by 176.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 361 shares during the last quarter. Huntington National Bank grew its holdings in Terreno Realty by 7.4% during the 3rd quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust’s stock worth $171,000 after acquiring an additional 177 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Terreno Realty during the 4th quarter worth approximately $202,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TRNO. The Goldman Sachs Group raised shares of Terreno Realty from a “neutral” rating to a “buy” rating and upped their price objective for the company from $65.00 to $77.00 in a research note on Friday, February 21st. JMP Securities reissued a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $60.00 target price on the stock. Barclays reissued an “equal weight” rating and set a $60.00 target price (down from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Finally, Piper Sandler cut their target price on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $69.36.

Terreno Realty Stock Performance

TRNO opened at $66.35 on Monday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. The company’s fifty day moving average price is $65.08 and its two-hundred day moving average price is $63.89. Terreno Realty Co. has a 1-year low of $53.78 and a 1-year high of $71.63. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.82 and a beta of 0.93.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. On average, analysts expect that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 2.95%. 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.