PNC Financial Services Group Inc. Increases Stock Position in Terreno Realty Co. (NYSE:TRNO)

PNC Financial Services Group Inc. grew its position in Terreno Realty Co. (NYSE:TRNO) by 116.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,970 shares of the real estate investment trust’s stock after purchasing an additional 3,210 shares during the period. PNC Financial Services Group Inc.’s holdings in Terreno Realty were worth $353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stifel Financial Corp raised its holdings in shares of Terreno Realty by 39.3% in the third quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock valued at $6,156,000 after purchasing an additional 25,988 shares during the last quarter. Barclays PLC increased its holdings in Terreno Realty by 131.0% during the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock worth $11,360,000 after buying an additional 96,380 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Terreno Realty by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock worth $115,475,000 after buying an additional 315,506 shares during the last quarter. Geode Capital Management LLC increased its holdings in Terreno Realty by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock worth $161,423,000 after buying an additional 8,940 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Terreno Realty during the third quarter worth about $225,000.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $77.00 in a report on Friday, February 21st. Piper Sandler decreased their price objective on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. BMO Capital Markets raised their price objective on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $60.00 target price for the company. Finally, JMP Securities reiterated a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $69.36.

Terreno Realty Price Performance

TRNO stock opened at $65.14 on Friday. The firm has a 50 day moving average of $65.69 and a 200-day moving average of $63.89. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty Co. has a 12 month low of $53.78 and a 12 month high of $71.63. The firm has a market capitalization of $6.50 billion, a P/E ratio of 33.93, a price-to-earnings-growth 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 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. As a group, sell-side analysts predict that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be given a $0.49 dividend. The ex-dividend date is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.01%. Terreno Realty’s dividend payout ratio (DPR) is currently 102.08%.

Terreno Realty 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.