IndexIQ Advisors LLC Purchases Shares of 58,860 Terreno Realty Corporation (TRNO)
IndexIQ Advisors LLC purchased a new position in Terreno Realty Corporation (NYSE:TRNO) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 58,860 shares of the real estate investment trust’s stock, valued at approximately $1,981,000. IndexIQ Advisors LLC owned approximately 0.11% of Terreno Realty Corporation at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Terreno Realty Corporation by 17.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,374 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 500 shares in the last quarter. Neuberger Berman Group LLC bought a new position in Terreno Realty Corporation during the second quarter worth about $233,000. Prudential Financial Inc. bought a new position in Terreno Realty Corporation during the second quarter worth about $250,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in Terreno Realty Corporation by 14.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,791 shares of the real estate investment trust’s stock worth $1,676,000 after buying an additional 6,119 shares in the last quarter. Finally, GAM Holding AG raised its position in Terreno Realty Corporation by 7.6% in the second quarter. GAM Holding AG now owns 4,226 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 300 shares in the last quarter. 97.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Terreno Realty Corporation (NYSE:TRNO) opened at 35.42 on Wednesday. The company has a 50-day moving average of $34.38 and a 200-day moving average of $31.24. The firm has a market cap of $1.84 billion, a P/E ratio of 74.73 and a beta of 0.83. Terreno Realty Corporation has a 12 month low of $24.81 and a 12 month high of $35.89.
Terreno Realty Corporation (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by $0.01. Terreno Realty Corporation had a return on equity of 3.13% and a net margin of 20.91%. The business had revenue of $32.78 million for the quarter, compared to analyst estimates of $31.72 million. Equities analysts forecast that Terreno Realty Corporation will post $0.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be given a dividend of $0.22 per share. This is a boost from Terreno Realty Corporation’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.88 annualized dividend and a dividend yield of 2.48%.
A number of equities analysts recently issued reports on the company. National Securities raised their price target on Terreno Realty Corporation from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, August 21st. BidaskClub upgraded shares of Terreno Realty Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Stifel Nicolaus restated a “buy” rating and issued a $37.00 price objective (up previously from $34.50) on shares of Terreno Realty Corporation in a research report on Wednesday, August 9th. Jefferies Group LLC restated a “hold” rating and issued a $35.00 price objective (up previously from $29.00) on shares of Terreno Realty Corporation in a research report on Friday, June 23rd. Finally, Wunderlich raised their price objective on shares of Terreno Realty Corporation from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, May 8th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $32.71.
Terreno Realty Corporation Company Profile
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
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