Park Avenue Securities LLC Sells 273 Shares of Terreno Realty Co. (NYSE:TRNO)

Park Avenue Securities LLC reduced its stake in shares of Terreno Realty Co. (NYSE:TRNO) by 5.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,404 shares of the real estate investment trust’s stock after selling 273 shares during the period. Park Avenue Securities LLC’s holdings in Terreno Realty were worth $292,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TRNO. Norges Bank purchased a new stake in Terreno Realty during the 4th quarter valued at approximately $54,302,000. Public Employees Retirement Association of Colorado grew its holdings in shares of Terreno Realty by 91,086.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 713,076 shares of the real estate investment trust’s stock valued at $44,688,000 after purchasing an additional 712,294 shares in the last quarter. Tandem Investment Advisors Inc. grew its holdings in shares of Terreno Realty by 40.2% in the fourth quarter. Tandem Investment Advisors Inc. now owns 977,150 shares of the real estate investment trust’s stock valued at $61,238,000 after purchasing an additional 280,109 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Terreno Realty by 1.4% in the third quarter. Vanguard Group Inc. now owns 11,919,178 shares of the real estate investment trust’s stock valued at $677,009,000 after purchasing an additional 168,728 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Terreno Realty by 412.0% in the fourth quarter. Hsbc Holdings PLC now owns 205,287 shares of the real estate investment trust’s stock valued at $12,874,000 after purchasing an additional 165,194 shares in the last quarter.

Terreno Realty Stock Up 0.4 %

NYSE:TRNO opened at $59.43 on Tuesday. Terreno Realty Co. has a twelve month low of $50.42 and a twelve month high of $66.63. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 30.95, a price-to-earnings-growth ratio of 2.89 and a beta of 0.89. The stock has a fifty day simple moving average of $56.57 and a 200-day simple moving average of $60.36. The company has a current ratio of 10.17, a quick ratio of 10.17 and a debt-to-equity ratio of 0.23.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.18). Terreno Realty had a return on equity of 5.59% and a net margin of 49.12%. The business had revenue of $85.03 million for the quarter, compared to the consensus estimate of $86.56 million. Analysts anticipate that Terreno Realty Co. will post 2.28 EPS for the current year.

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.80 annualized dividend and a dividend yield of 3.03%. Terreno Realty’s dividend payout ratio (DPR) is 93.75%.

Analyst Ratings Changes

A number of research analysts recently weighed in on TRNO shares. Mizuho raised their target price on shares of Terreno Realty from $52.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Piper Sandler raised their target price on shares of Terreno Realty from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. The Goldman Sachs Group cut their target price on shares of Terreno Realty from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, May 14th. JMP Securities reaffirmed a “market outperform” rating and set a $65.00 price objective on shares of Terreno Realty in a research note on Monday, May 13th. Finally, StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $64.60.

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.