Terreno Realty Corporation (NYSE:TRNO) Stock Holdings Lifted by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its position in Terreno Realty Corporation (NYSE:TRNO) by 27.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,381 shares of the real estate investment trust’s stock after purchasing an additional 67,881 shares during the quarter. Public Sector Pension Investment Board’s holdings in Terreno Realty were worth $20,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC purchased a new position in Terreno Realty in the first quarter valued at about $83,095,000. Aigen Investment Management LP purchased a new position in Terreno Realty in the first quarter valued at about $211,000. Invesco Ltd. grew its stake in Terreno Realty by 5.2% in the first quarter. Invesco Ltd. now owns 1,930,096 shares of the real estate investment trust’s stock valued at $122,021,000 after purchasing an additional 95,714 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Terreno Realty in the first quarter valued at about $1,050,000. Finally, Townsquare Capital LLC grew its stake in Terreno Realty by 3.0% in the first quarter. Townsquare Capital LLC now owns 40,054 shares of the real estate investment trust’s stock valued at $2,532,000 after purchasing an additional 1,172 shares in the last quarter.

Terreno Realty Price Performance

NYSE TRNO opened at $53.03 on Tuesday. Terreno Realty Corporation has a twelve month low of $48.18 and a twelve month high of $71.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market capitalization of $5.48 billion, a PE ratio of 21.05, a P/E/G ratio of 2.29 and a beta of 1.02. The stock has a 50-day simple moving average of $56.99 and a 200 day simple moving average of $59.88.

Terreno Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.08 annualized dividend and a dividend yield of 3.9%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.49. Terreno Realty’s payout ratio is presently 77.78%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barclays lowered their target price on Terreno Realty from $57.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 27th. Wall Street Zen upgraded Terreno Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, May 20th. Piper Sandler decreased their price target on Terreno Realty from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company set a $72.00 price target on Terreno Realty in a research note on Sunday, July 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.90.

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.