Truist Financial Corp Increases Position in Terreno Realty Co. (NYSE:TRNO)

Truist Financial Corp grew its stake in Terreno Realty Co. (NYSE:TRNO – Get Rating) by 289.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,163 shares of the real estate investment trust’s stock after acquiring an additional 31,330 shares during the quarter. Truist Financial Corp owned about 0.06% of Terreno Realty worth $2,235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wipfli Financial Advisors LLC purchased a new position in shares of Terreno Realty in the 3rd quarter valued at $38,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Terreno Realty in the 3rd quarter valued at $4,562,000. Emerald Advisers LLC purchased a new position in shares of Terreno Realty in the 3rd quarter valued at $6,798,000. Raymond James & Associates increased its holdings in shares of Terreno Realty by 19.0% in the 3rd quarter. Raymond James & Associates now owns 147,161 shares of the real estate investment trust’s stock valued at $7,798,000 after acquiring an additional 23,481 shares during the period. Finally, Sage Rhino Capital LLC boosted its position in shares of Terreno Realty by 0.9% in the 3rd quarter. Sage Rhino Capital LLC now owns 23,794 shares of the real estate investment trust’s stock worth $1,261,000 after purchasing an additional 207 shares in the last quarter. 98.53% of the stock is currently owned by hedge funds and other institutional investors.

Terreno Realty Stock Performance

NYSE TRNO opened at $62.73 on Monday. The stock has a 50-day simple moving average of $57.80 and a two-hundred day simple moving average of $58.20. The firm has a market capitalization of $4.77 billion, a P/E ratio of 27.63 and a beta of 0.79. Terreno Realty Co. has a fifty-two week low of $50.36 and a fifty-two week high of $81.01. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.18 and a current ratio of 0.18.

Terreno Realty (NYSE:TRNO – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). The company had revenue of $70.80 million for the quarter, compared to analysts’ expectations of $66.95 million. Terreno Realty had a net margin of 65.44% and a return on equity of 8.14%. On average, equities analysts forecast that Terreno Realty Co. will post 1.97 earnings per share for the current year.

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. Terreno Realty’s dividend payout ratio is presently 70.48%.

Insider Activity at Terreno Realty

In related news, Director Leroy E. Carlson sold 4,000 shares of Terreno Realty stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $58.49, for a total value of $233,960.00. Following the completion of the transaction, the director now owns 37,791 shares in the company, valued at approximately $2,210,395.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. BTIG Research lowered their price objective on Terreno Realty from $94.00 to $74.00 and set a “buy” rating for the company in a research report on Monday, October 17th. Piper Sandler lowered their price objective on Terreno Realty from $73.00 to $69.00 and set an “overweight” rating for the company in a research report on Friday, October 7th. Scotiabank cut Terreno Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $73.00 to $54.00 in a research report on Monday, October 17th. TheStreet raised Terreno Realty from a “c+” rating to a “b-” rating in a research report on Wednesday, November 30th. Finally, Stifel Nicolaus started coverage on Terreno Realty in a research report on Wednesday, October 12th. They set a “buy” rating and a $62.00 price target for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

About Terreno Realty

(Get Rating)

Terreno Realty Corporation and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these condensed notes to the consolidated financial statements are unaudited.

Featured Stories

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Terreno Realty, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Terreno Realty wasn’t on the list.

While Terreno Realty currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here