Norges Bank Takes Position in Terreno Realty Corporation $TRNO

Norges Bank bought a new stake in shares of Terreno Realty Corporation (NYSE:TRNO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,865,291 shares of the real estate investment trust’s stock, valued at approximately $168,221,000. Norges Bank owned about 2.75% of Terreno Realty as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings in Terreno Realty by 52.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 172 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Terreno Realty by 73.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 189 shares during the period. First Horizon Corp raised its holdings in Terreno Realty by 41.5% during the 4th quarter. First Horizon Corp now owns 651 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 191 shares during the period. Smartleaf Asset Management LLC raised its holdings in Terreno Realty by 15.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 193 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Terreno Realty by 2.8% during the 3rd quarter. Mackenzie Financial Corp now owns 7,072 shares of the real estate investment trust’s stock valued at $401,000 after buying an additional 193 shares during the period.

Analyst Upgrades and Downgrades

TRNO has been the topic of several recent research reports. Weiss Ratings upgraded Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Citigroup increased their price target on Terreno Realty from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. iA Financial set a $75.00 price target on Terreno Realty in a report on Friday, February 6th. Cantor Fitzgerald increased their price target on Terreno Realty from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Finally, Royal Bank Of Canada set a $72.00 price target on Terreno Realty in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Terreno Realty has a consensus rating of “Moderate Buy” and an average target price of $69.64.

Terreno Realty Stock Performance

TRNO stock opened at $64.11 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $64.82 and its two-hundred day simple moving average is $63.16. Terreno Realty Corporation has a twelve month low of $53.00 and a twelve month high of $67.55. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 15.68 and a beta of 1.05.

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

Terreno Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.52 per share. 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 (DPR) is currently 50.86%.

Terreno Realty Company Profile

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.