Tandem Investment Advisors Inc. Buys 280,109 Shares of Terreno Realty Co. (NYSE:TRNO)

Tandem Investment Advisors Inc. raised its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 40.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 977,150 shares of the real estate investment trust’s stock after purchasing an additional 280,109 shares during the period. Terreno Realty accounts for 2.4% of Tandem Investment Advisors Inc.’s portfolio, making the stock its 22nd largest position. Tandem Investment Advisors Inc. owned approximately 1.14% of Terreno Realty worth $61,238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mackenzie Financial Corp increased its stake in shares of Terreno Realty by 17.7% during the fourth quarter. Mackenzie Financial Corp now owns 8,597 shares of the real estate investment trust’s stock valued at $539,000 after purchasing an additional 1,294 shares in the last quarter. Cornercap Investment Counsel Inc. increased its stake in shares of Terreno Realty by 3.1% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 12,741 shares of the real estate investment trust’s stock valued at $798,000 after purchasing an additional 380 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Terreno Realty by 6.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 98,648 shares of the real estate investment trust’s stock valued at $6,182,000 after purchasing an additional 6,102 shares in the last quarter. Phocas Financial Corp. increased its stake in shares of Terreno Realty by 21.9% during the fourth quarter. Phocas Financial Corp. now owns 136,162 shares of the real estate investment trust’s stock valued at $8,533,000 after purchasing an additional 24,480 shares in the last quarter. Finally, Impax Asset Management Group plc grew its holdings in shares of Terreno Realty by 7.1% during the fourth quarter. Impax Asset Management Group plc now owns 150,000 shares of the real estate investment trust’s stock valued at $9,400,000 after buying an additional 10,000 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TRNO shares. Mizuho increased their price target on shares of Terreno Realty from $52.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. JMP Securities reiterated a “market outperform” rating and set a $65.00 price target on shares of Terreno Realty in a report on Thursday, March 28th. Piper Sandler increased their price target on shares of Terreno Realty from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Scotiabank increased their price target on shares of Terreno Realty from $64.00 to $66.00 and gave the company a “sector perform” rating in a report on Monday, February 12th. Finally, Wedbush reiterated a “neutral” rating and set a $67.00 price target on shares of Terreno Realty in a report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $67.11.

Terreno Realty Stock Performance

TRNO stock traded down $2.93 on Wednesday, hitting $55.52. The company had a trading volume of 1,544,891 shares, compared to its average volume of 714,351. Terreno Realty Co. has a 12-month low of $50.42 and a 12-month high of $66.63. 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 stock’s 50-day simple moving average is $63.28 and its 200 day simple moving average is $60.09. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 2.74 and a beta of 0.81.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.10. The company had revenue of $86.48 million for the quarter, compared to analysts’ expectations of $84.06 million. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. As a group, equities research analysts expect that Terreno Realty Co. will post 2.41 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Wednesday, March 27th. Terreno Realty’s dividend payout ratio is presently 99.45%.

Terreno Realty Company 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.