Proficio Capital Partners LLC Makes New Investment in Terreno Realty Co. (NYSE:TRNO)

Proficio Capital Partners LLC bought a new position in Terreno Realty Co. (NYSE:TRNO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,591 shares of the real estate investment trust’s stock, valued at approximately $685,000.

Other hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp increased its holdings in 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 worth $6,156,000 after purchasing an additional 25,988 shares in the last quarter. Barclays PLC increased its holdings in Terreno Realty by 131.0% in the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock worth $11,360,000 after purchasing an additional 96,380 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Terreno Realty by 22.3% in 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 purchasing an additional 315,506 shares in the last quarter. Geode Capital Management LLC increased its holdings in Terreno Realty by 0.4% in 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 purchasing an additional 8,940 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in Terreno Realty in the third quarter worth approximately $225,000.

Terreno Realty Price Performance

Shares of NYSE TRNO opened at $62.56 on Friday. The firm has a market capitalization of $6.24 billion, a P/E ratio of 32.58, a P/E/G ratio of 2.82 and a beta of 0.93. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. The stock’s 50-day simple moving average is $65.78 and its two-hundred day simple moving average is $63.81. Terreno Realty Co. has a twelve month low of $53.78 and a twelve month high of $71.63.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping 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 analysts anticipate that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.13%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s dividend payout ratio is presently 102.08%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Scotiabank boosted their price objective on Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective for the company. Piper Sandler decreased their price objective on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $77.00 in a report on Friday, February 21st. Finally, BMO Capital Markets boosted their price objective on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $69.36.

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.