Norden Group LLC Purchases 52,790 Shares of Terreno Realty Co. (NYSE:TRNO)

Norden Group LLC raised its position in Terreno Realty Co. (NYSE:TRNO) by 1,032.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,904 shares of the real estate investment trust’s stock after buying an additional 52,790 shares during the quarter. Norden Group LLC owned 0.06% of Terreno Realty worth $3,845,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TRNO. Vanguard Group Inc. increased its position in Terreno Realty by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 12,061,890 shares of the real estate investment trust’s stock worth $755,919,000 after acquiring an additional 142,712 shares during the period. Schroder Investment Management Group increased its holdings in shares of Terreno Realty by 0.7% during the fourth quarter. Schroder Investment Management Group now owns 1,285,232 shares of the real estate investment trust’s stock worth $80,545,000 after purchasing an additional 8,984 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Terreno Realty by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,223,247 shares of the real estate investment trust’s stock valued at $76,663,000 after buying an additional 20,257 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Terreno Realty by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,193,153 shares of the real estate investment trust’s stock valued at $74,775,000 after buying an additional 31,075 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its stake in shares of Terreno Realty by 10.1% in the fourth quarter. Copeland Capital Management LLC now owns 1,078,987 shares of the real estate investment trust’s stock valued at $67,620,000 after buying an additional 99,310 shares during the period.

Terreno Realty Stock Down 0.2 %

Shares of NYSE:TRNO opened at $60.20 on Thursday. Terreno Realty Co. has a 52-week low of $50.42 and a 52-week high of $66.63. The company has a market capitalization of $5.82 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 2.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.17 and a current ratio of 10.17. The company has a fifty day moving average of $56.75 and a 200-day moving average of $60.34.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.18). The firm had revenue of $85.03 million during the quarter, compared to analyst estimates of $86.56 million. Terreno Realty had a return on equity of 5.59% and a net margin of 49.12%. On average, equities analysts predict that Terreno Realty Co. will post 2.28 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.45 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.80 dividend on an annualized basis and a yield of 2.99%. Terreno Realty’s dividend payout ratio (DPR) is presently 93.75%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays dropped their price target on Terreno Realty from $71.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Wedbush reaffirmed a “neutral” rating and set a $57.00 price target (down previously from $67.00) on shares of Terreno Realty in a report on Tuesday, May 14th. The Goldman Sachs Group reduced their price target on shares of Terreno Realty from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 14th. StockNews.com downgraded shares of Terreno Realty from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, Piper Sandler raised their target price on Terreno Realty from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $64.60.

Terreno Realty 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.