Granite Investment Partners LLC Has $8.32 Million Stock Position in Terreno Realty Corporation $TRNO

Granite Investment Partners LLC lessened its stake in Terreno Realty Corporation (NYSE:TRNO) by 5.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,416 shares of the real estate investment trust’s stock after selling 8,218 shares during the quarter. Granite Investment Partners LLC owned about 0.13% of Terreno Realty worth $8,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its stake in shares of Terreno Realty by 4.0% during the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock valued at $336,139,000 after purchasing an additional 230,444 shares during the last quarter. Norges Bank bought a new position in Terreno Realty in the 4th quarter worth approximately $168,221,000. Geode Capital Management LLC lifted its holdings in Terreno Realty by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust’s stock worth $159,620,000 after buying an additional 17,921 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Terreno Realty by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,078,910 shares of the real estate investment trust’s stock worth $122,053,000 after buying an additional 72,909 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Terreno Realty by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,547,349 shares of the real estate investment trust’s stock valued at $90,849,000 after buying an additional 31,018 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group set a $68.00 target price on Terreno Realty in a research note on Thursday, June 18th. Scotiabank cut their price target on Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 18th. Weiss Ratings upgraded Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Raymond James Financial started coverage on Terreno Realty in a research report on Wednesday, June 17th. They issued an “underperform” rating for the company. Finally, KeyCorp reissued an “overweight” rating on shares of Terreno Realty in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.21.

Terreno Realty Stock Performance

Shares of Terreno Realty stock opened at $67.44 on Thursday. The firm has a fifty day moving average of $65.78 and a two-hundred day moving average of $63.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 16.49 and a beta of 1.05. Terreno Realty Corporation has a 52 week low of $53.00 and a 52 week high of $69.47.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.36. The business had revenue of $124.44 million for the quarter, compared to analyst estimates of $122.60 million. Terreno Realty had a return on equity of 10.35% and a net margin of 86.44%. As a group, equities research analysts predict that Terreno Realty Corporation will post 2.8 EPS for the current year.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, June 26th. Terreno Realty’s payout ratio is presently 50.86%.

Terreno Realty 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.