Westpac Banking Corp Makes New Investment in Terreno Realty Corporation $TRNO

Westpac Banking Corp purchased a new stake in Terreno Realty Corporation (NYSE:TRNO) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 13,000 shares of the real estate investment trust’s stock, valued at approximately $798,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its position in shares of Terreno Realty by 52.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 172 shares during the period. UMB Bank n.a. lifted its position in shares of Terreno Realty by 49.4% during the 4th quarter. UMB Bank n.a. now owns 535 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 177 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Terreno Realty by 73.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 189 shares during the period. First Horizon Corp lifted its position in shares of Terreno Realty by 41.5% during the 4th quarter. First Horizon Corp now owns 651 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 191 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Terreno Realty by 15.4% during the second quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 193 shares in the last quarter.

Terreno Realty Price Performance

Shares of TRNO opened at $73.01 on Thursday. Terreno Realty Corporation has a 12-month low of $53.00 and a 12-month high of $78.94. The business’s fifty day moving average is $67.08 and its 200 day moving average is $64.80. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23. The stock has a market cap of $7.76 billion, a P/E ratio of 17.85 and a beta of 1.05.

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, beating the consensus estimate of $0.30 by $0.36. The business had revenue of $124.44 million during the quarter, compared to the consensus estimate of $122.60 million. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. Sell-side analysts anticipate that Terreno Realty Corporation will post 2.81 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, June 26th. Terreno Realty’s dividend payout ratio (DPR) is 50.86%.

Wall Street Analysts Forecast Growth

TRNO has been the subject of a number of research reports. KeyCorp restated an “overweight” rating on shares of Terreno Realty in a report on Tuesday, June 23rd. UBS Group set a $68.00 price objective on shares of Terreno Realty in a report on Thursday, June 18th. Scotiabank cut their price objective on shares of Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating on the stock in a research report on Thursday, June 18th. Robert W. Baird set a $69.00 target price on Terreno Realty in a research note on Friday, May 8th. Finally, Weiss Ratings raised Terreno Realty from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Terreno Realty has a consensus rating of “Moderate Buy” and a consensus price target of $70.71.

About Terreno Realty

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.