Hsbc Holdings PLC Takes $23.32 Million Position in Terreno Realty Corporation $TRNO

Hsbc Holdings PLC purchased a new stake in Terreno Realty Corporation (NYSE:TRNO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 358,353 shares of the real estate investment trust’s stock, valued at approximately $23,320,000.

A number of other hedge funds have also recently added to or reduced their stakes in TRNO. EverSource Wealth Advisors LLC lifted its stake in Terreno Realty by 73.3% in the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 189 shares during the last quarter. Wiser Advisor Group LLC bought a new position in shares of Terreno Realty during the 3rd quarter valued at $25,000. Clearstead Trust LLC bought a new position in shares of Terreno Realty during the 2nd quarter valued at $28,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Terreno Realty by 52.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 172 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Terreno Realty by 304.3% in the first 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 in the last quarter.

Analysts Set New Price Targets

Several equities analysts have weighed in on TRNO shares. Cantor Fitzgerald raised their target price on Terreno Realty from $75.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Raymond James Financial started coverage on Terreno Realty in a research note on Wednesday, June 17th. They set an “underperform” rating for the company. Citigroup increased their price objective on Terreno Realty from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Terreno Realty in a research note on Friday, July 31st. Finally, Scotiabank boosted their target price on Terreno Realty from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.86.

Terreno Realty Stock Down 0.7%

TRNO stock opened at $67.12 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. Terreno Realty Corporation has a 52-week low of $55.71 and a 52-week high of $78.94. The company has a 50-day moving average of $69.21 and a two-hundred day moving average of $66.32. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 18.00 and a beta of 1.03.

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 (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. The company had revenue of $124.71 million for the quarter, compared to the consensus estimate of $127.15 million. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%. As a group, equities research analysts anticipate that Terreno Realty Corporation will post 2.82 EPS for the current year.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.28 annualized dividend and a yield of 3.4%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s dividend payout ratio (DPR) is presently 55.76%.

Insider Buying and Selling

In related news, EVP John Tull Meyer sold 4,447 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total transaction of $305,242.08. Following the transaction, the executive vice president owned 131,825 shares of the company’s stock, valued at approximately $9,048,468. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Michael A. Coke sold 8,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $68.38, for a total transaction of $547,040.00. Following the transaction, the president owned 425,381 shares of the company’s stock, valued at approximately $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by insiders.

Terreno Realty 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.