Terreno Realty Co. (NYSE:TRNO) Shares Sold by Vestcor Inc

Vestcor Inc decreased its holdings in Terreno Realty Co. (NYSE:TRNO) by 43.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,213 shares of the real estate investment trust’s stock after selling 22,784 shares during the quarter. Vestcor Inc’s holdings in Terreno Realty were worth $1,728,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. FMR LLC increased its stake in Terreno Realty by 16.4% during the 3rd quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock worth $708,348,000 after buying an additional 1,496,666 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Terreno Realty by 339.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 611,128 shares of the real estate investment trust’s stock worth $40,842,000 after buying an additional 472,125 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Terreno Realty by 59.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,054,516 shares of the real estate investment trust’s stock worth $70,473,000 after buying an additional 394,436 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Terreno Realty by 58.3% during the 4th quarter. Bank of New York Mellon Corp now owns 948,090 shares of the real estate investment trust’s stock worth $56,070,000 after buying an additional 349,060 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Terreno Realty during the 4th quarter worth approximately $19,792,000.

Terreno Realty Stock Performance

Terreno Realty stock opened at $66.35 on Friday. The firm has a 50 day simple moving average of $65.08 and a 200-day simple moving average of $63.97. Terreno Realty Co. has a 1-year low of $53.78 and a 1-year high of $71.63. 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 cap of $6.62 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93.

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 for the quarter, topping 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%. On average, analysts expect that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be given a dividend of $0.49 per share. The ex-dividend date is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.95%. Terreno Realty’s payout ratio is currently 102.08%.

Analyst Upgrades and Downgrades

Several research firms have commented on TRNO. Barclays reiterated an “equal weight” rating and set a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft started coverage on Terreno Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective for the company. JMP Securities restated a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a research 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 research report on Wednesday, February 12th. Finally, Piper Sandler dropped their target price on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Two equities research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.36.

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.