Terreno Realty Corporation $TRNO Stock Position Raised by Davis Selected Advisers

Davis Selected Advisers grew its position in shares of Terreno Realty Corporation (NYSE:TRNO) by 16.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 120,907 shares of the real estate investment trust’s stock after acquiring an additional 16,710 shares during the period. Davis Selected Advisers’ holdings in Terreno Realty were worth $6,861,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TRNO. Swiss Life Asset Management Ltd bought a new position in Terreno Realty during the third quarter valued at approximately $267,000. Cambria Investment Management L.P. increased its stake in shares of Terreno Realty by 15.6% during the 3rd quarter. Cambria Investment Management L.P. now owns 10,132 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 1,365 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Terreno Realty by 14.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,252,479 shares of the real estate investment trust’s stock valued at $71,078,000 after purchasing an additional 159,104 shares in the last quarter. Capital Square LLC raised its holdings in shares of Terreno Realty by 4.5% during the 3rd quarter. Capital Square LLC now owns 18,019 shares of the real estate investment trust’s stock valued at $1,023,000 after purchasing an additional 779 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Terreno Realty in the 3rd quarter valued at $619,000.

Wall Street Analyst Weigh In

Several research firms have commented on TRNO. Mizuho increased their target price on shares of Terreno Realty from $53.00 to $56.00 and gave the stock an “underperform” rating in a research report on Thursday, December 4th. Barclays reiterated a “positive” rating and set a $60.00 price target on shares of Terreno Realty in a research note on Tuesday, January 13th. Piper Sandler boosted their target price on Terreno Realty from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Royal Bank Of Canada set a $72.00 target price on Terreno Realty in a research report on Monday, February 9th. Finally, Citigroup lifted their price target on shares of Terreno Realty from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

Terreno Realty Trading Down 1.8%

Terreno Realty stock opened at $62.32 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32. The business’s 50-day simple moving average is $63.41 and its 200-day simple moving average is $60.95. The firm has a market capitalization of $6.49 billion, a PE ratio of 15.98, a PEG ratio of 2.53 and a beta of 1.12. Terreno Realty Corporation has a 52 week low of $48.18 and a 52 week high of $67.00.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, February 4th. The real estate investment trust reported $1.53 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.68. The firm 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%. Equities research analysts forecast that Terreno Realty Corporation will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be paid a $0.52 dividend. The ex-dividend date is Friday, March 27th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. Terreno Realty’s dividend payout ratio (DPR) is presently 53.33%.

About Terreno Realty

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.