Townsquare Capital LLC Raises Position in Terreno Realty Co. (NYSE:TRNO)

Townsquare Capital LLC boosted its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,882 shares of the real estate investment trust’s stock after buying an additional 3,164 shares during the period. Townsquare Capital LLC’s holdings in Terreno Realty were worth $2,300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Terreno Realty by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock valued at $902,293,000 after purchasing an additional 1,484,301 shares in the last quarter. FMR LLC raised its position in shares of Terreno Realty by 5.9% during the 4th quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust’s stock valued at $663,987,000 after buying an additional 628,116 shares in the last quarter. Geode Capital Management LLC grew its position in Terreno Realty by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust’s stock worth $144,031,000 after acquiring an additional 19,900 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Terreno Realty by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,838,503 shares of the real estate investment trust’s stock valued at $108,729,000 after acquiring an additional 110,610 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Terreno Realty by 1.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,288,168 shares of the real estate investment trust’s stock valued at $76,183,000 after purchasing an additional 14,995 shares in the last quarter.

Terreno Realty Price Performance

TRNO opened at $55.90 on Wednesday. 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 stock has a market capitalization of $5.76 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00. The stock’s 50 day moving average price is $63.67 and its 200-day moving average price is $62.50. Terreno Realty Co. has a 52-week low of $48.18 and a 52-week high of $71.63.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities research analysts predict that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 27th were issued a dividend of $0.49 per share. The ex-dividend date was Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.51%. Terreno Realty’s dividend payout ratio (DPR) is 102.08%.

Analyst Upgrades and Downgrades

TRNO has been the topic of several recent research reports. Piper Sandler reduced their price objective on Terreno Realty from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday. Scotiabank decreased their price target 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 began 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. JMP Securities reiterated a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research report on Monday, February 10th. Finally, The Goldman Sachs Group raised shares of 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 note on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Terreno Realty presently has an average rating of “Hold” and an average price target of $66.45.

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.