Royal Bank of Canada Lowers Position in Terreno Realty Corporation $TRNO

Royal Bank of Canada decreased its stake in shares of Terreno Realty Corporation (NYSE:TRNO) by 7.9% in the first quarter, Holdings Channel.com reports. The fund owned 324,618 shares of the real estate investment trust’s stock after selling 27,712 shares during the period. Royal Bank of Canada’s holdings in Terreno Realty were worth $19,940,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wiser Advisor Group LLC bought a new stake in Terreno Realty in the 3rd quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Terreno Realty by 73.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 189 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Terreno Realty by 304.3% during the first 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 in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Terreno Realty by 52.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 172 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Terreno Realty in the fourth quarter worth about $30,000.

Terreno Realty Price Performance

NYSE:TRNO opened at $69.56 on Thursday. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 17.01 and a beta of 1.03. Terreno Realty Corporation has a 1 year low of $53.00 and a 1 year high of $78.94. The business has a 50 day simple moving average of $68.25 and a 200-day simple moving average of $65.66. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. The firm had revenue of $124.71 million for the quarter, compared to the consensus estimate of $127.17 million. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%. Equities analysts forecast that Terreno Realty Corporation will post 2.81 EPS for the current year.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be issued a $0.57 dividend. This is a boost from Terreno Realty’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 30th. This represents a $2.28 annualized dividend and a dividend yield of 3.3%. Terreno Realty’s dividend payout ratio (DPR) is 50.86%.

Wall Street Analyst Weigh In

A number of research firms recently commented on TRNO. Weiss Ratings reiterated a “buy (b)” rating on shares of Terreno Realty in a research report on Friday, July 31st. KeyCorp reaffirmed an “overweight” rating on shares of Terreno Realty in a research note on Tuesday, June 23rd. Wells Fargo & Company decreased their price objective on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Piper Sandler upped their price objective on Terreno Realty from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, Robert W. Baird set a $69.00 target price on Terreno Realty in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.71.

Terreno Realty Company 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.