Schroder Investment Management Group Sells 597,537 Shares of Terreno Realty Co. (NYSE:TRNO)

Schroder Investment Management Group cut its stake in Terreno Realty Co. (NYSE:TRNO) by 45.4% in the 4th quarter, Holdings Channel reports. The firm owned 718,421 shares of the real estate investment trust’s stock after selling 597,537 shares during the period. Schroder Investment Management Group’s holdings in Terreno Realty were worth $42,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TRNO. The Manufacturers Life Insurance Company raised its stake in Terreno Realty by 5.3% in the third quarter. The Manufacturers Life Insurance Company now owns 70,103 shares of the real estate investment trust’s stock worth $4,685,000 after buying an additional 3,519 shares in the last quarter. D.A. Davidson & CO. bought a new position in shares of Terreno Realty in the 3rd quarter worth approximately $259,000. Glenmede Trust Co. NA lifted its stake in shares of Terreno Realty by 40.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 13,234 shares of the real estate investment trust’s stock valued at $884,000 after purchasing an additional 3,782 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Terreno Realty by 1.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,670 shares of the real estate investment trust’s stock valued at $2,785,000 after purchasing an additional 662 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Terreno Realty by 339.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 611,128 shares of the real estate investment trust’s stock worth $40,842,000 after purchasing an additional 472,125 shares during the period.

Analysts Set New Price Targets

Several brokerages have commented on TRNO. Scotiabank raised their price objective on Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a research report on Friday, February 28th. BMO Capital Markets boosted their price objective on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. Piper Sandler decreased their target price 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. Barclays dropped their price target on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 25th. Finally, The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $77.00 in a research report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Terreno Realty currently has an average rating of “Hold” and a consensus price target of $69.09.

Terreno Realty Price Performance

NYSE TRNO opened at $63.36 on Wednesday. Terreno Realty Co. has a one year low of $53.78 and a one year high of $71.63. The stock has a 50-day moving average of $66.13 and a 200 day moving average of $63.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 2.82 and a beta of 0.93.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, topping 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%. On average, sell-side analysts forecast 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 issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 3.09%. Terreno Realty’s payout ratio is 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.