The Manufacturers Life Insurance Company Trims Stake in Terreno Realty Corporation $TRNO

The Manufacturers Life Insurance Company lessened its position in Terreno Realty Corporation (NYSE:TRNO) by 12.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,463 shares of the real estate investment trust’s stock after selling 7,614 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of Terreno Realty worth $3,284,000 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 company. Jones Financial Companies Lllp grew its stake in shares of Terreno Realty by 90.2% during the first quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 378 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 350 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Terreno Realty by 73.3% during the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 189 shares during the period. First Trust Advisors LP raised its stake in Terreno Realty by 78.9% in the second quarter. First Trust Advisors LP now owns 52,473 shares of the real estate investment trust’s stock worth $2,942,000 after buying an additional 23,135 shares in the last quarter. Finally, Amundi lifted its holdings in Terreno Realty by 18.6% during the second quarter. Amundi now owns 67,020 shares of the real estate investment trust’s stock worth $3,799,000 after buying an additional 10,525 shares during the period.

Terreno Realty Stock Up 0.7%

Shares of TRNO stock opened at $68.63 on Friday. The stock’s fifty day moving average price is $68.33 and its 200 day moving average price is $65.72. Terreno Realty Corporation has a 1-year low of $53.00 and a 1-year high of $78.94. The company has a market cap of $7.30 billion, a price-to-earnings ratio of 18.40 and a beta of 1.03. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.91.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%.The business had revenue of $124.71 million during the quarter, compared to the consensus estimate of $126.46 million. On average, research analysts expect that Terreno Realty Corporation will post 2.82 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.28 annualized dividend and a yield of 3.3%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s payout ratio is presently 50.86%.

Analysts Set New Price Targets

TRNO has been the topic of a number of analyst reports. Raymond James Financial began coverage on Terreno Realty in a report on Wednesday, June 17th. They issued an “underperform” rating on the stock. The Goldman Sachs Group raised their price objective on Terreno Realty from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Scotiabank reduced their target price on shares of Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating for the company in a report on Thursday, June 18th. Piper Sandler increased their price target on shares of Terreno Realty from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company lowered their price target on shares of Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.71.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.