American International Group Inc. raised its position in Terreno Realty Corporation (NYSE:TRNO) by 7.4% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 26,362 shares of the real estate investment trust’s stock after buying an additional 1,826 shares during the period. American International Group Inc. owned approximately 0.06% of Terreno Realty Corporation worth $738,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in TRNO. Daiwa Securities Group Inc. boosted its position in Terreno Realty Corporation by 37.0% in the first quarter. Daiwa Securities Group Inc. now owns 3,700 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 1,000 shares during the last quarter. ProShare Advisors LLC raised its stake in Terreno Realty Corporation by 2,018.8% in the first quarter. ProShare Advisors LLC now owns 153,803 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 146,544 shares during the period. State of Alaska Department of Revenue raised its stake in Terreno Realty Corporation by 36.6% in the first quarter. State of Alaska Department of Revenue now owns 25,960 shares of the real estate investment trust’s stock valued at $726,000 after buying an additional 6,950 shares during the period. Bank of Montreal Can raised its stake in Terreno Realty Corporation by 170.9% in the first quarter. Bank of Montreal Can now owns 9,290 shares of the real estate investment trust’s stock valued at $261,000 after buying an additional 5,861 shares during the period. Finally, Macquarie Group Ltd. raised its stake in Terreno Realty Corporation by 3.6% in the fourth quarter. Macquarie Group Ltd. now owns 59,997 shares of the real estate investment trust’s stock valued at $1,709,000 after buying an additional 2,100 shares during the period.
Terreno Realty Corporation (TRNO) traded down 0.49% during midday trading on Friday, hitting $34.26. The stock had a trading volume of 149,804 shares. The firm has a market cap of $1.71 billion, a P/E ratio of 163.14 and a beta of 0.82. The stock has a 50-day moving average price of $33.39 and a 200 day moving average price of $30.22. Terreno Realty Corporation has a 12-month low of $24.81 and a 12-month high of $34.86.
Terreno Realty Corporation (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.17. Terreno Realty Corporation had a return on equity of 1.64% and a net margin of 11.02%. The business had revenue of $31.44 million for the quarter, compared to analysts’ expectations of $30.76 million. On average, equities analysts anticipate that Terreno Realty Corporation will post $0.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.34%.
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Several research firms have commented on TRNO. BidaskClub lowered Terreno Realty Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Stifel Nicolaus reiterated a “buy” rating and set a $34.50 price objective on shares of Terreno Realty Corporation in a research note on Friday, July 14th. Jefferies Group LLC reiterated a “hold” rating and set a $35.00 price objective (up from $29.00) on shares of Terreno Realty Corporation in a research note on Friday, June 23rd. National Securities lowered Terreno Realty Corporation from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $29.00 to $33.00 in a research note on Thursday, May 11th. Finally, Wunderlich boosted their price objective on Terreno Realty Corporation from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, May 8th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $31.81.
Terreno Realty Corporation Company Profile
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
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