The Manufacturers Life Insurance Company Trims Holdings in Terreno Realty Corporation $TRNO

The Manufacturers Life Insurance Company decreased its position in shares of Terreno Realty Corporation (NYSE:TRNO) by 12.5% in the first quarter, HoldingsChannel reports. The firm owned 53,463 shares of the real estate investment trust’s stock after selling 7,614 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Terreno Realty were worth $3,284,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in Terreno Realty by 246.6% during the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock worth $257,257,000 after buying an additional 2,979,982 shares during the last quarter. Norges Bank purchased a new stake in shares of Terreno Realty in the 4th quarter valued at $168,221,000. Balyasny Asset Management L.P. increased its stake in shares of Terreno Realty by 529.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 407,497 shares of the real estate investment trust’s stock worth $23,924,000 after acquiring an additional 342,740 shares during the period. UBS Group AG increased its stake in shares of Terreno Realty by 108.1% in the third quarter. UBS Group AG now owns 599,894 shares of the real estate investment trust’s stock worth $34,044,000 after acquiring an additional 311,559 shares during the period. Finally, Adelante Capital Management LLC purchased a new position in shares of Terreno Realty during the third quarter worth $16,070,000.

Wall Street Analyst Weigh In

TRNO has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Terreno Realty in a research report on Friday, July 31st. Wells Fargo & Company reduced their price target on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. Barclays boosted their price target on Terreno Realty from $60.00 to $69.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Piper Sandler upped their price objective on Terreno Realty from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Finally, Raymond James Financial began coverage on shares of Terreno Realty in a research note on Wednesday, June 17th. They set an “underperform” rating on the stock. 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.71.

Terreno Realty Price Performance

NYSE:TRNO opened at $68.63 on Friday. Terreno Realty Corporation has a 52 week low of $53.00 and a 52 week high of $78.94. The company has a quick ratio of 0.91, a current ratio of 0.43 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $7.30 billion, a PE ratio of 18.40 and a beta of 1.03. The stock’s 50-day moving average price is $68.33 and its 200-day moving average price is $65.72.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. The company had revenue of $124.71 million during the quarter, compared to analysts’ expectations of $126.46 million. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%. As a group, equities analysts expect that Terreno Realty Corporation will post 2.82 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 30th. Terreno Realty’s dividend payout ratio (DPR) is presently 50.86%.

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.