PNC Financial Services Group Inc. Buys 3,210 Shares of Terreno Realty Co. (NYSE:TRNO)

PNC Financial Services Group Inc. raised its stake in shares of Terreno Realty Co. (NYSE:TRNO) by 116.3% in the 4th quarter, HoldingsChannel reports. The firm owned 5,970 shares of the real estate investment trust’s stock after purchasing an additional 3,210 shares during the period. PNC Financial Services Group Inc.’s holdings in Terreno Realty were worth $353,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Stifel Financial Corp lifted its position in Terreno Realty by 39.3% during the third quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock valued at $6,156,000 after purchasing an additional 25,988 shares during the last quarter. Barclays PLC raised its stake in shares of Terreno Realty by 131.0% during the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock worth $11,360,000 after acquiring an additional 96,380 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Terreno Realty by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock worth $115,475,000 after acquiring an additional 315,506 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Terreno Realty by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock worth $161,423,000 after acquiring an additional 8,940 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Terreno Realty during the third quarter worth approximately $225,000.

Terreno Realty Stock Down 1.8 %

Shares of NYSE TRNO opened at $65.14 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average is $65.69 and its 200 day moving average is $63.89. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.82 and a beta of 0.93. Terreno Realty Co. has a 52 week low of $53.78 and a 52 week high of $71.63.

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, beating 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, equities research analysts expect that Terreno Realty Co. will post 2.64 earnings per share for the current year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s payout ratio is currently 102.08%.

Analysts Set New Price Targets

Several research analysts have commented on TRNO shares. BMO Capital Markets lifted their price target 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. Scotiabank lifted their price target on shares of Terreno Realty from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Friday, February 28th. 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 research note on Friday, February 21st. Piper Sandler decreased their price target on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Barclays reissued an “equal weight” rating and set a $60.00 price target (down from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $69.36.

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.