Louisiana State Employees Retirement System Takes Position in Terreno Realty Co. (NYSE:TRNO)

Louisiana State Employees Retirement System bought a new stake in shares of Terreno Realty Co. (NYSE:TRNO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 48,200 shares of the real estate investment trust’s stock, valued at approximately $2,851,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its holdings in Terreno Realty by 16.4% in the 3rd quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock worth $708,348,000 after buying an additional 1,496,666 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Terreno Realty by 339.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 611,128 shares of the real estate investment trust’s stock worth $40,842,000 after buying an additional 472,125 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Terreno Realty by 59.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,054,516 shares of the real estate investment trust’s stock worth $70,473,000 after buying an additional 394,436 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Terreno Realty by 22.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock worth $115,475,000 after buying an additional 315,506 shares during the period. Finally, Barclays PLC boosted its holdings in Terreno Realty by 131.0% in the 3rd quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock worth $11,360,000 after buying an additional 96,380 shares during the period.

Terreno Realty Stock Performance

Terreno Realty stock opened at $67.24 on Friday. The firm’s fifty day moving average price is $61.95 and its 200-day moving average price is $64.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.71 and a current ratio of 0.23. The stock has a market cap of $6.71 billion, a P/E ratio of 35.02, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91. Terreno Realty Co. has a fifty-two week low of $53.78 and a fifty-two week high of $71.63.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. On average, equities research analysts expect that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s dividend payout ratio is currently 102.08%.

Analyst Ratings Changes

Several research analysts recently commented on TRNO shares. Scotiabank cut their price objective on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, October 25th. Barclays reiterated an “equal weight” rating and issued a $60.00 target price (down from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 target price on the stock. BMO Capital Markets increased their target price on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Piper Sandler lowered their target price on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Terreno Realty currently has an average rating of “Hold” and a consensus price target of $68.45.

About Terreno Realty

Terreno Realty Corporation (Terreno, 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 notes to the consolidated financial statements are unaudited.