Massachusetts Financial Services Co. MA Trims Stake in Terreno Realty Corporation $TRNO

Massachusetts Financial Services Co. MA decreased its stake in shares of Terreno Realty Corporation (NYSE:TRNO) by 12.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 634,931 shares of the real estate investment trust’s stock after selling 93,706 shares during the period. Massachusetts Financial Services Co. MA owned 0.61% of Terreno Realty worth $36,032,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Howland Capital Management LLC raised its stake in Terreno Realty by 4.1% in the 3rd quarter. Howland Capital Management LLC now owns 134,465 shares of the real estate investment trust’s stock valued at $7,683,000 after purchasing an additional 5,339 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in shares of Terreno Realty during the third quarter valued at approximately $350,000. Stephens Inc. AR boosted its position in Terreno Realty by 6.2% during the third quarter. Stephens Inc. AR now owns 45,130 shares of the real estate investment trust’s stock worth $2,561,000 after acquiring an additional 2,627 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Terreno Realty by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 113,964 shares of the real estate investment trust’s stock worth $6,467,000 after acquiring an additional 1,712 shares during the period. Finally, First Horizon Corp acquired a new position in Terreno Realty in the 3rd quarter valued at $26,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TRNO shares. Citigroup raised their price objective on Terreno Realty from $58.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Wells Fargo & Company raised their price target on Terreno Realty from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Barclays restated a “positive” rating and issued a $60.00 price target on shares of Terreno Realty in a report on Tuesday, January 13th. Piper Sandler upgraded shares of Terreno Realty from a “neutral” rating to an “overweight” rating and set a $75.00 price objective on the stock in a report on Monday, November 10th. Finally, Mizuho boosted their target price on shares of Terreno Realty from $53.00 to $56.00 and gave the company an “underperform” rating in a report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Terreno Realty presently has an average rating of “Moderate Buy” and an average price target of $66.00.

Insider Buying and Selling at Terreno Realty

In related news, EVP John Tull Meyer sold 4,758 shares of Terreno Realty stock in a transaction on Friday, November 7th. The shares were sold at an average price of $59.95, for a total transaction of $285,242.10. Following the transaction, the executive vice president owned 119,949 shares in the company, valued at approximately $7,190,942.55. The trade was a 3.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Terreno Realty Stock Performance

Shares of NYSE:TRNO opened at $62.46 on Thursday. The business has a 50-day moving average of $60.90 and a two-hundred day moving average of $58.74. The firm has a market capitalization of $6.46 billion, a PE ratio of 19.83, a P/E/G ratio of 2.49 and a beta of 1.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. Terreno Realty Corporation has a 12 month low of $48.18 and a 12 month high of $69.20.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.34. Terreno Realty had a return on equity of 8.27% and a net margin of 72.41%.The business had revenue of $116.25 million during the quarter, compared to analysts’ expectations of $114.62 million. As a group, research analysts forecast that Terreno Realty Corporation will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Monday, December 15th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, December 15th. Terreno Realty’s dividend payout ratio (DPR) is currently 66.03%.

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.