Bahl & Gaynor Inc. Grows Holdings in Terreno Realty Co. (NYSE:TRNO)

Bahl & Gaynor Inc. raised its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 430,820 shares of the real estate investment trust’s stock after purchasing an additional 37,113 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Terreno Realty were worth $25,479,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Assetmark Inc. grew its stake in Terreno Realty by 2,381.3% in the third quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 381 shares in the last quarter. Manchester Capital Management LLC bought a new position in shares of Terreno Realty during the 4th quarter worth $27,000. Steward Partners Investment Advisory LLC increased its stake in shares of Terreno Realty by 176.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 361 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Terreno Realty by 6,580.0% in the third quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 987 shares in the last quarter. Finally, Huntington National Bank lifted its stake in Terreno Realty by 7.4% in the third 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 period.

Terreno Realty Price Performance

Shares of NYSE TRNO opened at $67.42 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.82 and a beta of 0.91. The firm’s 50 day simple moving average is $63.55 and its 200-day simple moving average is $63.99. Terreno Realty Co. has a 12 month low of $53.78 and a 12 month high of $71.63.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results 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%. Analysts expect that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

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 given a $0.49 dividend. The ex-dividend date is Thursday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 2.91%. Terreno Realty’s dividend payout ratio (DPR) is presently 102.08%.

Analyst Ratings Changes

TRNO has been the topic of a number of recent research reports. Piper Sandler dropped their price objective 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. Barclays reiterated an “equal weight” rating and issued a $60.00 price target (down from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $77.00 in a research note on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a report on Monday, February 10th. Finally, Scotiabank raised their price target on shares of Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a report on Friday. Two equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.36.

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.