UBS Asset Management Americas Inc. boosted its stake in Terreno Realty Co. (NYSE:TRNO) by 18.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 116,408 shares of the real estate investment trust’s stock after purchasing an additional 17,941 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.21% of Terreno Realty worth $4,081,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Terreno Realty by 5.2% during the fourth quarter. BlackRock Inc. now owns 6,368,876 shares of the real estate investment trust’s stock worth $223,293,000 after buying an additional 312,221 shares during the period. Schroder Investment Management Group grew its stake in Terreno Realty by 3.2% during the fourth quarter. Schroder Investment Management Group now owns 1,557,469 shares of the real estate investment trust’s stock worth $54,604,000 after buying an additional 48,650 shares during the period. Suffolk Capital Management LLC grew its stake in Terreno Realty by 50.7% during the fourth quarter. Suffolk Capital Management LLC now owns 23,105 shares of the real estate investment trust’s stock worth $810,000 after buying an additional 7,777 shares during the period. Eagle Asset Management Inc. grew its stake in Terreno Realty by 1.5% during the fourth quarter. Eagle Asset Management Inc. now owns 147,467 shares of the real estate investment trust’s stock worth $5,134,000 after buying an additional 2,230 shares during the period. Finally, Capital Fund Management S.A. purchased a new stake in Terreno Realty during the fourth quarter worth approximately $1,255,000. Hedge funds and other institutional investors own 99.47% of the company’s stock.
Several equities research analysts have issued reports on TRNO shares. National Securities upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Wednesday, November 22nd. Robert W. Baird restated a “hold” rating and issued a $35.00 target price on shares of Terreno Realty in a research note on Tuesday, January 9th. Zacks Investment Research upgraded shares of Terreno Realty from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Thursday, January 11th. Sandler O’Neill set a $40.00 target price on shares of Terreno Realty and gave the company a “buy” rating in a research note on Friday, January 12th. Finally, DA Davidson restated a “buy” rating on shares of Terreno Realty in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $37.73.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Wednesday, March 28th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 27th. This represents a $0.88 annualized dividend and a dividend yield of 2.54%. Terreno Realty’s dividend payout ratio (DPR) is presently 92.63%.
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About Terreno Realty
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
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