Norges Bank Takes $168.22 Million Position in Terreno Realty Corporation $TRNO

Norges Bank purchased a new stake in shares of Terreno Realty Corporation (NYSE:TRNO) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,865,291 shares of the real estate investment trust’s stock, valued at approximately $168,221,000.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Terreno Realty by 4.0% during the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock valued at $336,139,000 after buying an additional 230,444 shares during the period. Geode Capital Management LLC increased its stake in shares of Terreno Realty by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust’s stock valued at $159,620,000 after buying an additional 17,921 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Terreno Realty by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,516,331 shares of the real estate investment trust’s stock valued at $86,051,000 after buying an additional 19,222 shares during the period. JPMorgan Chase & Co. grew its stake in Terreno Realty by 14.6% in the third quarter. JPMorgan Chase & Co. now owns 1,252,479 shares of the real estate investment trust’s stock valued at $71,078,000 after purchasing an additional 159,104 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Terreno Realty by 7.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,208,471 shares of the real estate investment trust’s stock valued at $70,950,000 after purchasing an additional 81,444 shares during the last quarter.

Terreno Realty Trading Up 0.7%

Terreno Realty stock opened at $64.11 on Thursday. 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 $67.55. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 15.68 and a beta of 1.05. The stock has a 50-day moving average price of $64.82 and a 200 day moving average price of $63.16.

Terreno Realty (NYSE:TRNO) last released 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. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%.The firm had revenue of $124.44 million during the quarter, compared to the consensus estimate of $122.60 million. Sell-side analysts anticipate that Terreno Realty Corporation will post 2.79 EPS for the current year.

Terreno Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. Terreno Realty’s payout ratio is 50.86%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Weiss Ratings upgraded Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Royal Bank Of Canada set a $72.00 target price on Terreno Realty in a research note on Monday, February 9th. KeyCorp lifted their target price on Terreno Realty from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Citizens Jmp lifted their target price on Terreno Realty from $66.00 to $70.00 and gave the company a “market outperform” rating in a research note on Friday, February 6th. Finally, UBS Group set a $72.00 target price on Terreno Realty in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

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.