Granite Investment Partners LLC Trims Stake in Terreno Realty Corporation $TRNO

Granite Investment Partners LLC lessened its position in shares of Terreno Realty Corporation (NYSE:TRNO) by 31.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 153,429 shares of the real estate investment trust’s stock after selling 70,163 shares during the quarter. Granite Investment Partners LLC’s holdings in Terreno Realty were worth $8,707,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in shares of Terreno Realty by 90.2% in the first quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 378 shares during the period. Geneos Wealth Management Inc. raised its position in Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 350 shares during the last quarter. CWM LLC raised its position in Terreno Realty by 26.5% in the 2nd quarter. CWM LLC now owns 1,171 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 245 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Terreno Realty by 15.1% during the 2nd quarter. D.A. Davidson & CO. now owns 4,089 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 535 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in Terreno Realty by 3.1% during the 2nd quarter. Asset Management One Co. Ltd. now owns 189,954 shares of the real estate investment trust’s stock worth $10,651,000 after purchasing an additional 5,740 shares during the last quarter.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $65.91 on Monday. Terreno Realty Corporation has a 52 week low of $48.18 and a 52 week high of $69.20. The company has a 50-day moving average price of $61.87 and a 200 day moving average price of $59.91. The company has a market cap of $6.87 billion, a P/E ratio of 16.90, a PEG ratio of 2.64 and a beta of 1.13. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 4th. The real estate investment trust reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.68. The business had revenue of $137.48 million during the quarter, compared to the consensus estimate of $124.72 million. Terreno Realty had a return on equity of 10.08% and a net margin of 84.51%. Research analysts predict that Terreno Realty Corporation will post 2.64 earnings per share for the current year.

Terreno Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be given a $0.52 dividend. The ex-dividend date is Friday, March 27th. This represents a $2.08 annualized dividend and a yield of 3.2%. Terreno Realty’s dividend payout ratio is presently 53.33%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Terreno Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 22nd. Piper Sandler upped their price objective on Terreno Realty from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. iA Financial set a $75.00 target price on Terreno Realty in a research note on Friday, February 6th. Robert W. Baird set a $67.00 target price on Terreno Realty in a report on Wednesday, February 11th. Finally, UBS Group set a $72.00 price target on Terreno Realty in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

Terreno Realty Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.