T. Rowe Price Investment Management Inc. Boosts Stake in Terreno Realty Co. (NYSE:TRNO)

T. Rowe Price Investment Management Inc. raised its position in Terreno Realty Co. (NYSE:TRNO) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,145,502 shares of the real estate investment trust’s stock after purchasing an additional 210,696 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.05% of Terreno Realty worth $304,305,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mariner LLC boosted its position in shares of Terreno Realty by 3.7% in the fourth quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust’s stock worth $264,000 after buying an additional 161 shares during the period. MML Investors Services LLC boosted its holdings in Terreno Realty by 6.1% in the 3rd quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 249 shares during the period. First Trust Advisors LP grew its position in Terreno Realty by 0.9% in the fourth quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust’s stock valued at $1,810,000 after acquiring an additional 271 shares in the last quarter. Arizona State Retirement System grew its position in Terreno Realty by 1.0% in the fourth quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust’s stock valued at $1,663,000 after acquiring an additional 276 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in shares of Terreno Realty by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,994 shares of the real estate investment trust’s stock worth $591,000 after purchasing an additional 316 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Terreno Realty from a “neutral” rating to a “buy” rating and raised their price target for the company from $65.00 to $77.00 in a report on Friday, February 21st. Scotiabank lowered their target price on Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating for the company in a research note on Monday, April 7th. Barclays cut their price target on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 25th. Piper Sandler lowered their price objective on Terreno Realty from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Terreno Realty has an average rating of “Hold” and an average price target of $66.45.

Terreno Realty Stock Performance

Terreno Realty stock opened at $57.00 on Thursday. 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 12 month low of $48.18 and a 12 month high of $71.63. The company has a fifty day moving average price of $62.47 and a two-hundred day moving average price of $62.16. The company has a market cap of $5.87 billion, a PE ratio of 29.69, a P/E/G ratio of 2.82 and a beta of 1.00.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 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%. Research analysts expect that Terreno Realty Co. will post 2.64 earnings per share for the current year.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Thursday, March 27th. Terreno Realty’s payout ratio is 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.