Terreno Realty Co. (NYSE:TRNO) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its position in Terreno Realty Co. (NYSE:TRNO) by 34.3% during the fourth quarter, Holdings Channel reports. The fund owned 45,926 shares of the real estate investment trust’s stock after selling 24,023 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Terreno Realty were worth $2,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TRNO. Huntington National Bank raised its position in shares of Terreno Realty by 7.4% during the 3rd quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust’s stock worth $171,000 after buying an additional 177 shares in the last quarter. MML Investors Services LLC raised its position in shares of Terreno Realty by 6.1% during the 3rd quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 249 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Terreno Realty by 0.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 120,450 shares of the real estate investment trust’s stock worth $8,050,000 after buying an additional 370 shares in the last quarter. Assetmark Inc. raised its position in shares of Terreno Realty by 2,381.3% during the 3rd quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 381 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Terreno Realty by 7.4% during the 4th quarter. Fifth Third Bancorp now owns 6,436 shares of the real estate investment trust’s stock worth $381,000 after buying an additional 441 shares in the last quarter.

Terreno Realty Stock Performance

Shares of TRNO opened at $66.84 on Friday. The company’s 50 day moving average price is $62.56 and its 200 day moving average price is $64.03. Terreno Realty Co. has a 52 week low of $53.78 and a 52 week high of $71.63. The company has a market capitalization of $6.67 billion, a PE ratio of 34.81, a PEG ratio of 2.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 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%. Research analysts expect that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is presently 102.08%.

Analyst Ratings Changes

Several brokerages have recently issued reports on TRNO. Piper Sandler lowered their price objective 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. Scotiabank lowered their price objective on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Friday, October 25th. BMO Capital Markets lifted 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 price objective on shares of Terreno Realty in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Terreno Realty has an average rating of “Hold” and a consensus price target of $68.45.

About Terreno Realty

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.