Corient Private Wealth LLC Lowers Stake in Terreno Realty Corporation $TRNO

Corient Private Wealth LLC cut its position in shares of Terreno Realty Corporation (NYSE:TRNO) by 39.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 17,010 shares of the real estate investment trust’s stock after selling 11,086 shares during the period. Corient Private Wealth LLC’s holdings in Terreno Realty were worth $1,009,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. DigitalBridge Group Inc. grew its stake in Terreno Realty by 29.0% during the third quarter. DigitalBridge Group Inc. now owns 346,700 shares of the real estate investment trust’s stock worth $18,649,000 after buying an additional 78,000 shares during the period. Delphi Management Inc. MA acquired a new stake in shares of Terreno Realty in the fourth quarter worth $1,238,000. Principal Financial Group Inc. raised its stake in shares of Terreno Realty by 7.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,208,471 shares of the real estate investment trust’s stock valued at $70,950,000 after acquiring an additional 81,444 shares during the period. Sage Rhino Capital LLC lifted its holdings in shares of Terreno Realty by 36.6% during the 4th quarter. Sage Rhino Capital LLC now owns 40,190 shares of the real estate investment trust’s stock valued at $2,360,000 after acquiring an additional 10,777 shares in the last quarter. Finally, Phocas Financial Corp. lifted its holdings in shares of Terreno Realty by 53.8% during the 4th quarter. Phocas Financial Corp. now owns 180,452 shares of the real estate investment trust’s stock valued at $10,594,000 after acquiring an additional 63,122 shares in the last quarter.

Terreno Realty Stock Performance

Terreno Realty stock opened at $67.17 on Friday. Terreno Realty Corporation has a 12-month low of $53.00 and a 12-month high of $67.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 16.42 and a beta of 1.05. The firm’s fifty day moving average price is $65.62 and its 200 day moving average price is $63.72.

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, beating analysts’ consensus estimates of $0.30 by $0.36. The company had revenue of $124.44 million during the quarter, compared to analysts’ expectations of $122.60 million. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. On average, research analysts forecast that Terreno Realty Corporation will post 2.8 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.08 dividend on an annualized basis and a yield of 3.1%. Terreno Realty’s dividend payout ratio is currently 50.86%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TRNO shares. Wells Fargo & Company lowered their price target on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. UBS Group set a $68.00 price objective on Terreno Realty in a research note on Thursday, June 18th. KeyCorp reaffirmed an “overweight” rating on shares of Terreno Realty in a research report on Tuesday, June 23rd. Scotiabank lowered their target price on Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 18th. Finally, Weiss Ratings upgraded Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. 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 two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.21.

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.