Bahl & Gaynor Inc. Boosts Stake in Terreno Realty Co. (NYSE:TRNO)

Bahl & Gaynor Inc. increased its position in Terreno Realty Co. (NYSE:TRNO) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 342,603 shares of the real estate investment trust’s stock after buying an additional 7,924 shares during the period. Bahl & Gaynor Inc.’s holdings in Terreno Realty were worth $21,471,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in Terreno Realty by 10.3% during the third quarter. FMR LLC now owns 5,260,376 shares of the real estate investment trust’s stock worth $298,789,000 after acquiring an additional 493,182 shares during the last quarter. Invesco Ltd. increased its stake in Terreno Realty by 11.1% during the third quarter. Invesco Ltd. now owns 4,113,232 shares of the real estate investment trust’s stock worth $233,632,000 after acquiring an additional 411,973 shares during the last quarter. Tandem Investment Advisors Inc. increased its stake in Terreno Realty by 40.2% during the fourth quarter. Tandem Investment Advisors Inc. now owns 977,150 shares of the real estate investment trust’s stock worth $61,238,000 after acquiring an additional 280,109 shares during the last quarter. Vanguard Group Inc. increased its stake in Terreno Realty by 1.4% during the third quarter. Vanguard Group Inc. now owns 11,919,178 shares of the real estate investment trust’s stock worth $677,009,000 after acquiring an additional 168,728 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Terreno Realty by 13.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,162,078 shares of the real estate investment trust’s stock worth $66,006,000 after acquiring an additional 133,251 shares during the last quarter.

Terreno Realty Trading Down 0.6 %

Shares of NYSE TRNO traded down $0.30 during trading hours on Friday, reaching $54.13. The stock had a trading volume of 611,222 shares, compared to its average volume of 713,217. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.28. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 29.91, a P/E/G ratio of 2.54 and a beta of 0.81. The business’s fifty day moving average price is $62.10 and its two-hundred day moving average price is $59.96. Terreno Realty Co. has a 52-week low of $50.42 and a 52-week high of $66.63.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The firm had revenue of $86.48 million during the quarter, compared to analyst estimates of $84.06 million. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. Analysts expect that Terreno Realty Co. will post 2.42 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 28th were issued a $0.45 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.33%. Terreno Realty’s payout ratio is 99.45%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TRNO. The Goldman Sachs Group boosted their price objective on Terreno Realty from $60.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Scotiabank boosted their price objective on Terreno Realty from $64.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Monday, February 12th. Barclays started coverage on Terreno Realty in a research note on Wednesday, March 27th. They set an “overweight” rating and a $71.00 target price on the stock. Piper Sandler upped their target price on Terreno Realty from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $65.00 target price on shares of Terreno Realty in a research note on Thursday, March 28th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $67.11.

Terreno Realty Profile

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.