Peregrine Capital Management LLC Takes $6.20 Million Position in Terreno Realty Co. (NYSE:TRNO)

Peregrine Capital Management LLC acquired a new position in Terreno Realty Co. (NYSE:TRNO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 104,885 shares of the real estate investment trust’s stock, valued at approximately $6,203,000.

A number of other hedge funds also recently bought and sold shares of the stock. Stifel Financial Corp raised its position in shares of Terreno Realty by 39.3% in the 3rd quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock worth $6,156,000 after acquiring an additional 25,988 shares in the last quarter. Barclays PLC grew its stake in Terreno Realty by 131.0% in the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock valued at $11,360,000 after purchasing an additional 96,380 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Terreno Realty by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock worth $115,475,000 after purchasing an additional 315,506 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Terreno Realty by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock valued at $161,423,000 after buying an additional 8,940 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Terreno Realty in the 3rd quarter valued at about $225,000.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. Barclays restated an “equal weight” rating and set a $60.00 price target (down previously from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective for the company. Scotiabank cut their price target on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Friday, October 25th. Finally, Piper Sandler reduced their target price 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, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Terreno Realty presently has an average rating of “Hold” and a consensus price target of $68.45.

Terreno Realty Stock Performance

Shares of TRNO stock opened at $67.14 on Wednesday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty Co. has a 12-month low of $53.78 and a 12-month high of $71.63. The business’s 50 day moving average is $62.31 and its two-hundred day moving average is $63.99. The company has a market capitalization of $6.70 billion, a P/E ratio of 34.97, a P/E/G ratio of 2.81 and a beta of 0.91.

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

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.92%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s payout ratio is 102.08%.

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.