Geode Capital Management LLC Grows Stake in Terreno Realty Corporation $TRNO

Geode Capital Management LLC grew its holdings in Terreno Realty Corporation (NYSE:TRNO) by 0.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,718,337 shares of the real estate investment trust’s stock after acquiring an additional 17,921 shares during the quarter. Geode Capital Management LLC’s holdings in Terreno Realty were worth $159,620,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TRNO. UBS Group AG increased its holdings in shares of Terreno Realty by 108.1% in the 3rd quarter. UBS Group AG now owns 599,894 shares of the real estate investment trust’s stock valued at $34,044,000 after acquiring an additional 311,559 shares during the last quarter. Adelante Capital Management LLC purchased a new position in shares of Terreno Realty in the 3rd quarter valued at about $16,070,000. State Street Corp grew its stake in Terreno Realty by 4.0% during the 2nd quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock worth $336,139,000 after buying an additional 230,444 shares during the last quarter. SG Americas Securities LLC grew its stake in Terreno Realty by 273.8% during the 4th quarter. SG Americas Securities LLC now owns 300,848 shares of the real estate investment trust’s stock worth $17,663,000 after buying an additional 220,365 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Terreno Realty by 31.3% during the 2nd quarter. Bank of America Corp DE now owns 812,348 shares of the real estate investment trust’s stock worth $45,548,000 after buying an additional 193,555 shares during the last quarter.

Terreno Realty Stock Up 0.7%

Terreno Realty stock opened at $64.11 on Thursday. Terreno Realty Corporation has a twelve month low of $53.00 and a twelve month high of $67.55. The stock has a 50 day moving average of $64.82 and a two-hundred day moving average of $63.16. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 15.68 and a beta of 1.05.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.36. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%.The company had revenue of $124.44 million during the quarter, compared to analysts’ expectations of $122.60 million. As a group, research analysts expect that Terreno Realty Corporation will post 2.79 earnings per share for the current year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, June 26th. Terreno Realty’s dividend payout ratio (DPR) is presently 50.86%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TRNO. Robert W. Baird set a $69.00 price target on Terreno Realty in a research note on Friday, May 8th. iA Financial set a $75.00 price target on Terreno Realty in a research note on Friday, February 6th. UBS Group set a $72.00 price target on Terreno Realty in a research note on Monday, February 9th. Weiss Ratings upgraded Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company dropped their price target on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Terreno Realty has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.