Davis Selected Advisers Sells 760 Shares of Terreno Realty Co. (NYSE:TRNO)

Davis Selected Advisers lowered its position in Terreno Realty Co. (NYSE:TRNO) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 101,477 shares of the real estate investment trust’s stock after selling 760 shares during the period. Davis Selected Advisers’ holdings in Terreno Realty were worth $6,001,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in TRNO. Huntington National Bank grew its position in Terreno Realty by 7.4% in the 3rd quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 177 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of Terreno Realty by 6.1% in the third quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 249 shares in the last quarter. Arizona State Retirement System increased its position in shares of Terreno Realty by 1.0% during the fourth quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust’s stock valued at $1,663,000 after acquiring an additional 276 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Terreno Realty by 176.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 361 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Terreno Realty by 0.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 120,450 shares of the real estate investment trust’s stock worth $8,050,000 after acquiring an additional 370 shares during the period.

Wall Street Analyst Weigh In

TRNO has been the subject of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a research report on Monday, February 10th. 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 report on Thursday, February 6th. Scotiabank lifted their price objective on shares of Terreno Realty from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $60.00 target price for the company. Finally, The Goldman Sachs Group raised shares of Terreno Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $77.00 in a report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $69.36.

Terreno Realty Trading Up 0.4 %

NYSE:TRNO opened at $68.46 on Friday. Terreno Realty Co. has a 1 year low of $53.78 and a 1 year high of $71.63. The stock’s fifty day moving average price is $64.26 and its two-hundred day moving average price is $64.06. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market cap of $6.83 billion, a P/E ratio of 35.66, a P/E/G ratio of 2.82 and a beta of 0.91.

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

Terreno Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.86%. Terreno Realty’s dividend payout ratio (DPR) is currently 102.08%.

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.