NewEdge Wealth LLC Sells 344 Shares of Terreno Realty Co. (NYSE:TRNO)

NewEdge Wealth LLC lessened its stake in shares of Terreno Realty Co. (NYSE:TRNO) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,693 shares of the real estate investment trust’s stock after selling 344 shares during the period. NewEdge Wealth LLC’s holdings in Terreno Realty were worth $733,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in shares of Terreno Realty in the 1st quarter valued at about $28,000. Ronald Blue Trust Inc. lifted its holdings in shares of Terreno Realty by 93.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 537 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 260 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Terreno Realty in the 4th quarter valued at about $35,000. Blue Trust Inc. lifted its holdings in shares of Terreno Realty by 84.2% in the 4th quarter. Blue Trust Inc. now owns 989 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 452 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Terreno Realty in the 4th quarter valued at about $89,000.

Terreno Realty Price Performance

Shares of TRNO opened at $58.39 on Wednesday. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 32.26, a price-to-earnings-growth ratio of 2.74 and a beta of 0.81. Terreno Realty Co. has a twelve month low of $50.42 and a twelve month high of $66.63. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $63.28 and a two-hundred day moving average of $60.09.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.10. The company had revenue of $86.48 million during the quarter, compared to the consensus estimate of $84.06 million. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. As a group, analysts predict that Terreno Realty Co. will post 2.41 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.80 annualized dividend and a dividend yield of 3.08%. Terreno Realty’s payout ratio is currently 99.45%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $67.00 price objective on shares of Terreno Realty in a research report on Thursday, March 28th. Barclays assumed coverage on shares of Terreno Realty in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $71.00 price objective on the stock. Piper Sandler increased their price objective on shares of Terreno Realty from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Scotiabank increased their price objective on shares of Terreno Realty from $64.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. Finally, StockNews.com raised shares of Terreno Realty from a “sell” rating to a “hold” rating in a research report on Saturday, March 23rd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.11.

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.