Azimuth Capital Investment Management LLC Has $10.39 Million Holdings in Terreno Realty Corporation $TRNO

Azimuth Capital Investment Management LLC lessened its position in Terreno Realty Corporation (NYSE:TRNO) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 183,147 shares of the real estate investment trust’s stock after selling 11,440 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Terreno Realty were worth $10,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in Terreno Realty during the second quarter valued at about $156,525,000. Osterweis Capital Management Inc. bought a new position in shares of Terreno Realty in the second quarter worth about $33,699,000. Boston Trust Walden Corp acquired a new position in shares of Terreno Realty during the 3rd quarter worth about $26,957,000. Schroder Investment Management Group lifted its position in shares of Terreno Realty by 55.7% during the 2nd quarter. Schroder Investment Management Group now owns 1,131,989 shares of the real estate investment trust’s stock worth $63,471,000 after purchasing an additional 405,015 shares during the last quarter. Finally, UBS Group AG boosted its stake in Terreno Realty by 108.1% during the 3rd quarter. UBS Group AG now owns 599,894 shares of the real estate investment trust’s stock valued at $34,044,000 after purchasing an additional 311,559 shares during the period.

Terreno Realty Stock Up 0.1%

NYSE TRNO opened at $62.19 on Friday. Terreno Realty Corporation has a 1-year low of $48.18 and a 1-year high of $67.70. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.48 and a beta of 1.12. The stock’s 50 day moving average is $63.18 and its two-hundred day moving average is $60.85. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 4th. The real estate investment trust reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.68. The business had revenue of $137.48 million during the quarter, compared to analysts’ expectations of $124.72 million. Terreno Realty had a return on equity of 10.08% and a net margin of 84.51%. Equities analysts forecast that Terreno Realty Corporation will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TRNO shares. Citizens Jmp raised their target price on Terreno Realty from $66.00 to $70.00 and gave the company a “market outperform” rating in a report on Friday, February 6th. UBS Group set a $72.00 price target on Terreno Realty in a report on Monday, February 9th. Citigroup raised their price objective on shares of Terreno Realty from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Robert W. Baird set a $67.00 target price on shares of Terreno Realty in a research report on Wednesday, February 11th. Finally, iA Financial set a $75.00 target price on shares of Terreno Realty in a research note on Friday, February 6th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.36.

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.