Manchester Capital Management LLC Makes New Investment in Terreno Realty Co. (NYSE:TRNO)

Manchester Capital Management LLC bought a new position in shares of Terreno Realty Co. (NYSE:TRNO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 453 shares of the real estate investment trust’s stock, valued at approximately $27,000.

Several other large investors also recently bought and sold shares of the stock. FMR LLC grew its position in Terreno Realty by 16.4% during the 3rd quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock worth $708,348,000 after purchasing an additional 1,496,666 shares during the last quarter. Geode Capital Management LLC lifted its stake in Terreno Realty by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock valued at $161,423,000 after acquiring an additional 8,940 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Terreno Realty by 22.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock valued at $115,475,000 after acquiring an additional 315,506 shares during the period. Copeland Capital Management LLC lifted its stake in Terreno Realty by 7.1% during the 4th quarter. Copeland Capital Management LLC now owns 1,209,144 shares of the real estate investment trust’s stock valued at $71,509,000 after acquiring an additional 79,701 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Terreno Realty by 59.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,054,516 shares of the real estate investment trust’s stock valued at $70,473,000 after acquiring an additional 394,436 shares during the period.

Terreno Realty Stock Performance

NYSE:TRNO opened at $66.74 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.71 and a current ratio of 0.23. Terreno Realty Co. has a fifty-two week low of $53.78 and a fifty-two week high of $71.63. The company has a fifty day moving average of $62.24 and a two-hundred day moving average of $64.00. The stock has a market capitalization of $6.66 billion, a PE ratio of 34.76, a P/E/G ratio of 2.85 and a beta of 0.91.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. As a group, research analysts forecast that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s dividend payout ratio is currently 102.08%.

Wall Street Analysts Forecast Growth

Several analysts have commented on TRNO shares. Barclays restated an “equal weight” rating and set a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Scotiabank decreased their price objective on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a research note on Friday, October 25th. Piper Sandler decreased their price objective on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. JMP Securities reiterated a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research note on Monday, February 10th. Finally, BMO Capital Markets boosted their target price on shares of Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Terreno Realty has an average rating of “Hold” and a consensus price target of $68.45.

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.