Alliancebernstein L.P. Acquires 3,237 Shares of Terreno Realty Co. (NYSE:TRNO)

Alliancebernstein L.P. raised its holdings in Terreno Realty Co. (NYSE:TRNO) by 2.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 138,847 shares of the real estate investment trust’s stock after acquiring an additional 3,237 shares during the quarter. Alliancebernstein L.P. owned approximately 0.14% of Terreno Realty worth $8,211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Manchester Capital Management LLC bought a new stake in shares of Terreno Realty during the fourth quarter valued at approximately $27,000. Steward Partners Investment Advisory LLC raised its position in Terreno Realty by 176.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 361 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Terreno Realty in the 4th quarter worth $76,000. Los Angeles Capital Management LLC bought a new position in shares of Terreno Realty during the 4th quarter worth $202,000. Finally, Virtu Financial LLC purchased a new position in shares of Terreno Realty during the fourth quarter valued at $205,000.

Analysts Set New Price Targets

Several research analysts have issued reports on TRNO shares. Piper Sandler cut shares of Terreno Realty from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $78.00 to $61.00 in a report on Monday. Scotiabank dropped their price objective on shares of Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Monday, April 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective for the company. BMO Capital Markets increased their target price on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $77.00 in a research report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $66.55.

Terreno Realty Stock Up 1.1 %

Shares of TRNO stock opened at $54.56 on Friday. The stock’s fifty day moving average price is $64.12 and its 200 day moving average price is $62.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. Terreno Realty Co. has a 1-year low of $48.18 and a 1-year high of $71.63. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00.

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

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 27th were issued a $0.49 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.59%. Terreno Realty’s dividend payout ratio is currently 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.