Maryland State Retirement & Pension System Sells 15,514 Shares of Terreno Realty Corporation $TRNO

Maryland State Retirement & Pension System lowered its stake in shares of Terreno Realty Corporation (NYSE:TRNO) by 51.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,851 shares of the real estate investment trust’s stock after selling 15,514 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Terreno Realty were worth $843,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Howland Capital Management LLC increased its stake in Terreno Realty by 4.1% in the third quarter. Howland Capital Management LLC now owns 134,465 shares of the real estate investment trust’s stock valued at $7,683,000 after acquiring an additional 5,339 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in shares of Terreno Realty in the 3rd quarter worth about $350,000. Stephens Inc. AR boosted its holdings in shares of Terreno Realty by 6.2% in the 3rd quarter. Stephens Inc. AR now owns 45,130 shares of the real estate investment trust’s stock worth $2,561,000 after purchasing an additional 2,627 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Terreno Realty by 1.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 113,964 shares of the real estate investment trust’s stock valued at $6,467,000 after purchasing an additional 1,712 shares during the last quarter. Finally, First Horizon Corp bought a new position in shares of Terreno Realty during the 3rd quarter valued at about $26,000.

Insider Buying and Selling

In other Terreno Realty news, EVP John Tull Meyer sold 4,758 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $59.95, for a total value of $285,242.10. Following the completion of the sale, the executive vice president owned 119,949 shares in the company, valued at approximately $7,190,942.55. This trade represents a 3.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on TRNO shares. Cantor Fitzgerald set a $67.00 price target on shares of Terreno Realty in a research report on Monday, January 5th. The Goldman Sachs Group increased their target price on shares of Terreno Realty from $64.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Barclays reiterated a “positive” rating and issued a $60.00 target price on shares of Terreno Realty in a research report on Tuesday, January 13th. Mizuho raised their price objective on Terreno Realty from $53.00 to $56.00 and gave the company an “underperform” rating in a research note on Thursday, December 4th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Terreno Realty in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.00.

Terreno Realty Trading Up 1.0%

Shares of TRNO opened at $62.46 on Thursday. The stock has a market capitalization of $6.46 billion, a P/E ratio of 19.83, a PEG ratio of 2.49 and a beta of 1.13. Terreno Realty Corporation has a twelve month low of $48.18 and a twelve month high of $69.20. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $60.90 and a two-hundred day simple moving average of $58.74.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. The firm had revenue of $116.25 million for the quarter, compared to analysts’ expectations of $114.62 million. Terreno Realty had a net margin of 72.41% and a return on equity of 8.27%. On average, research analysts anticipate that Terreno Realty Corporation will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Monday, December 15th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, December 15th. Terreno Realty’s payout ratio is currently 66.03%.

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.