Prudential PLC Acquires New Stake in Terreno Realty Corporation $TRNO

Prudential PLC bought a new stake in Terreno Realty Corporation (NYSE:TRNO) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 21,295 shares of the real estate investment trust’s stock, valued at approximately $1,250,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. DigitalBridge Group Inc. increased its position in Terreno Realty by 29.0% during the 3rd quarter. DigitalBridge Group Inc. now owns 346,700 shares of the real estate investment trust’s stock worth $18,649,000 after purchasing an additional 78,000 shares in the last quarter. Delphi Management Inc. MA purchased a new stake in Terreno Realty in the 4th quarter valued at about $1,238,000. Sage Rhino Capital LLC grew its holdings in Terreno Realty by 36.6% in the 4th quarter. Sage Rhino Capital LLC now owns 40,190 shares of the real estate investment trust’s stock valued at $2,360,000 after buying an additional 10,777 shares during the period. Principal Financial Group Inc. grew its holdings in Terreno Realty by 7.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,208,471 shares of the real estate investment trust’s stock valued at $70,950,000 after buying an additional 81,444 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Terreno Realty by 14.6% in 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 buying an additional 159,104 shares during the period.

Wall Street Analyst Weigh In

TRNO has been the subject of a number of research reports. Robert W. Baird set a $69.00 target price on Terreno Realty in a report on Friday, May 8th. Piper Sandler upped their target price on Terreno Realty from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. UBS Group set a $72.00 target price on Terreno Realty in a research report on Monday, February 9th. Wells Fargo & Company lowered their price target on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. Finally, Scotiabank upped their price objective on Terreno Realty from $69.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. One 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 MarketBeat, Terreno Realty has an average rating of “Moderate Buy” and a consensus price target of $69.64.

Terreno Realty Trading Down 0.1%

NYSE:TRNO opened at $64.30 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 15.72 and a beta of 1.05. The business has a fifty day moving average of $64.94 and a 200-day moving average of $63.22. Terreno Realty Corporation has a 1 year low of $53.00 and a 1 year high of $67.55.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.36. The business had revenue of $124.44 million during the quarter, compared to analyst estimates of $122.60 million. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%. Equities analysts predict that Terreno Realty Corporation will post 2.79 earnings per share for the current year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a $0.52 dividend. The ex-dividend date is Friday, June 26th. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. Terreno Realty’s dividend payout ratio is 50.86%.

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.