Strs Ohio Cuts Holdings in Terreno Realty Corporation $TRNO

Strs Ohio lowered its position in Terreno Realty Corporation (NYSE:TRNO) by 24.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 273,800 shares of the real estate investment trust’s stock after selling 89,900 shares during the quarter. Strs Ohio’s holdings in Terreno Realty were worth $16,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Castellan Group increased its stake in Terreno Realty by 10.2% during the first quarter. Castellan Group now owns 72,689 shares of the real estate investment trust’s stock worth $4,465,000 after acquiring an additional 6,718 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Terreno Realty by 11.7% during the 1st quarter. Pictet Asset Management Holding SA now owns 16,218 shares of the real estate investment trust’s stock worth $996,000 after purchasing an additional 1,696 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Terreno Realty during the 1st quarter worth approximately $2,838,000. Vanderbilt University increased its position in Terreno Realty by 163.5% during the 1st quarter. Vanderbilt University now owns 15,455 shares of the real estate investment trust’s stock worth $949,000 after purchasing an additional 9,590 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Terreno Realty by 18.9% in the first quarter. SG Americas Securities LLC now owns 357,735 shares of the real estate investment trust’s stock valued at $21,972,000 after buying an additional 56,887 shares during the period.

Terreno Realty Stock Down 0.2%

Shares of NYSE:TRNO opened at $67.17 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23. Terreno Realty Corporation has a 52-week low of $53.00 and a 52-week high of $67.83. The company has a 50 day moving average of $65.64 and a two-hundred day moving average of $63.75. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 16.42 and a beta of 1.05.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.36. The business had revenue of $124.44 million for the quarter, compared to analysts’ expectations of $122.60 million. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. As a group, analysts forecast that Terreno Realty Corporation will post 2.8 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, July 10th. Shareholders of record on Friday, June 26th will be issued a $0.52 dividend. The ex-dividend date is Friday, June 26th. This represents a $2.08 dividend on an annualized basis and a yield of 3.1%. Terreno Realty’s payout ratio is currently 50.86%.

Analyst Ratings Changes

A number of research analysts have weighed in on TRNO shares. KeyCorp reaffirmed an “overweight” rating on shares of Terreno Realty in a research report on Tuesday, June 23rd. Raymond James Financial began coverage on shares of Terreno Realty in a research note on Wednesday, June 17th. They issued an “underperform” rating on the stock. UBS Group set a $68.00 target price on shares of Terreno Realty in a report on Thursday, June 18th. 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 report on Thursday, June 18th. Finally, Wells Fargo & Company lowered their price target on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Terreno Realty presently has a consensus rating of “Moderate Buy” and an average price target of $69.21.

Terreno Realty 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.