Ethic Inc. Buys Shares of 3,651 Terreno Realty Co. (NYSE:TRNO)

Ethic Inc. bought a new stake in shares of Terreno Realty Co. (NYSE:TRNO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,651 shares of the real estate investment trust’s stock, valued at approximately $216,000.

A number of other hedge funds have also made changes to their positions in the company. Mariner LLC increased its holdings in shares of Terreno Realty by 3.7% in the fourth quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust’s stock valued at $264,000 after purchasing an additional 161 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Terreno Realty by 0.9% in the fourth quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust’s stock valued at $1,810,000 after purchasing an additional 271 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Terreno Realty by 1.0% in the fourth quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust’s stock valued at $1,663,000 after purchasing an additional 276 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Terreno Realty by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,994 shares of the real estate investment trust’s stock valued at $591,000 after purchasing an additional 316 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Terreno Realty by 176.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 361 shares during the last quarter.

Analyst Upgrades and Downgrades

TRNO has been the subject of several recent research reports. StockNews.com raised Terreno Realty from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Piper Sandler cut their price target on Terreno Realty from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a report on Monday, February 10th. BMO Capital Markets increased their price target on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Finally, Scotiabank lowered their price objective on Terreno Realty from $68.00 to $57.00 and set a “sector perform” rating for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $66.45.

Terreno Realty Trading Up 0.6%

Shares of Terreno Realty stock opened at $58.63 on Friday. Terreno Realty Co. has a fifty-two week low of $48.18 and a fifty-two week high of $71.63. The stock has a 50 day moving average of $58.99 and a 200 day moving average of $61.42. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 2.82 and a beta of 1.07. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a dividend of $0.49 per share. The ex-dividend date is Friday, June 27th. This represents a $1.96 annualized dividend and a dividend yield of 3.34%. Terreno Realty’s dividend payout ratio is currently 98.49%.

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.