New York State Teachers Retirement System Makes New Investment in Terreno Realty Co. (NYSE:TRNO)

New York State Teachers Retirement System acquired a new position in shares of Terreno Realty Co. (NYSE:TRNO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 22,700 shares of the real estate investment trust’s stock, valued at approximately $1,342,000.

Several other hedge funds also recently made changes to their positions in TRNO. FMR LLC grew its holdings in shares of Terreno Realty by 16.4% during the third quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock worth $708,348,000 after purchasing an additional 1,496,666 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Terreno Realty by 339.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 611,128 shares of the real estate investment trust’s stock worth $40,842,000 after purchasing an additional 472,125 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Terreno Realty by 59.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,054,516 shares of the real estate investment trust’s stock worth $70,473,000 after purchasing an additional 394,436 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 purchasing an additional 315,506 shares during the last quarter. Finally, Barclays PLC grew its holdings 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 purchasing an additional 96,380 shares during the last quarter.

Terreno Realty Price Performance

TRNO stock opened at $67.08 on Monday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. Terreno Realty Co. has a 12-month low of $53.78 and a 12-month high of $71.63. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 2.82 and a beta of 0.91. The firm has a 50 day moving average of $62.66 and a 200-day moving average of $64.03.

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, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. As a group, equities analysts expect that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be given a dividend of $0.49 per share. The ex-dividend date is Thursday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 2.92%. Terreno Realty’s dividend payout ratio is currently 102.08%.

Analyst Ratings Changes

A number of research firms recently issued reports on TRNO. BMO Capital Markets raised their price target on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and set a $72.00 price target on shares of Terreno Realty in a report on Monday, February 10th. Piper Sandler lowered their price target on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and raised their price target for the stock from $65.00 to $77.00 in a report on Friday. Finally, Barclays reissued an “equal weight” rating and set a $60.00 price target (down previously from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $69.27.

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.