Tandem Investment Advisors Inc. Cuts Holdings in Terreno Realty Corporation $TRNO

Tandem Investment Advisors Inc. trimmed its position in Terreno Realty Corporation (NYSE:TRNO) by 12.0% in the first quarter, HoldingsChannel reports. The firm owned 1,206,993 shares of the real estate investment trust’s stock after selling 164,874 shares during the quarter. Terreno Realty accounts for about 3.6% of Tandem Investment Advisors Inc.’s holdings, making the stock its 13th largest holding. Tandem Investment Advisors Inc.’s holdings in Terreno Realty were worth $74,134,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in Terreno Realty by 73.3% in the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 189 shares during the last quarter. Wiser Advisor Group LLC bought a new stake in shares of Terreno Realty during the 3rd quarter worth $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Terreno Realty by 52.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 172 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 350 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Terreno Realty during the fourth quarter valued at about $30,000.

Terreno Realty Trading Down 0.1%

Shares of TRNO stock opened at $74.99 on Friday. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 18.34 and a beta of 1.05. The company’s fifty day simple moving average is $66.60 and its two-hundred day simple moving average is $64.45. Terreno Realty Corporation has a 1 year low of $53.00 and a 1 year high of $78.94. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.36. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%.The company had revenue of $124.44 million during the quarter, compared to analysts’ expectations of $122.60 million. As a group, analysts anticipate that Terreno Realty Corporation will post 2.81 earnings per share for the current year.

Terreno Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were given a dividend of $0.52 per share. The ex-dividend date was Friday, June 26th. This represents a $2.08 annualized dividend and a dividend yield of 2.8%. Terreno Realty’s dividend payout ratio is currently 50.86%.

Analysts Set New Price Targets

TRNO has been the subject of several research analyst reports. Scotiabank decreased their price target on shares of Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 18th. KeyCorp reissued an “overweight” rating on shares of Terreno Realty in a report on Tuesday, June 23rd. Robert W. Baird set a $69.00 target price on Terreno Realty in a research report on Friday, May 8th. Wells Fargo & Company lowered their target price on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Finally, UBS Group set a $68.00 price target on Terreno Realty in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.86.

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.