Oregon Public Employees Retirement Fund Makes New $1.39 Million Investment in Terreno Realty Co. (NYSE:TRNO)

Oregon Public Employees Retirement Fund bought a new position in shares of Terreno Realty Co. (NYSE:TRNO) during the fourth quarter, Holdings Channel.com reports. The firm bought 23,500 shares of the real estate investment trust’s stock, valued at approximately $1,390,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. lifted its position in Terreno Realty by 2,381.3% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 381 shares in the last quarter. Manchester Capital Management LLC bought a new position in Terreno Realty in the 4th quarter valued at approximately $27,000. International Assets Investment Management LLC lifted its position in Terreno Realty by 6,580.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 987 shares in the last quarter. Huntington National Bank lifted its position in Terreno Realty by 7.4% in the 3rd quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 177 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Terreno Realty in the 4th quarter valued at approximately $202,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRNO. Barclays reissued an “equal weight” rating and set a $60.00 price target (down from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $77.00 in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft initiated coverage on Terreno Realty in a research note on Tuesday, January 14th. They issued 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 objective on shares of Terreno Realty in a research note on Monday, February 10th. Finally, Piper Sandler reduced their price objective on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $69.36.

Terreno Realty Trading Down 0.1 %

Shares of TRNO stock opened at $67.79 on Friday. Terreno Realty Co. has a 52-week low of $53.78 and a 52-week high of $71.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market capitalization of $6.76 billion, a PE ratio of 35.31, a PEG ratio of 2.82 and a beta of 0.91. The stock has a fifty day simple moving average of $63.38 and a two-hundred day simple moving average of $64.02.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. On average, analysts predict that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.89%. Terreno Realty’s payout ratio is 102.08%.

About Terreno Realty

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.