Phocas Financial Corp. Increases Position in Terreno Realty Corporation $TRNO

Phocas Financial Corp. boosted its holdings in Terreno Realty Corporation (NYSE:TRNO) by 53.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 180,452 shares of the real estate investment trust’s stock after purchasing an additional 63,122 shares during the period. Terreno Realty comprises 1.4% of Phocas Financial Corp.’s portfolio, making the stock its 20th largest position. Phocas Financial Corp.’s holdings in Terreno Realty were worth $10,594,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC grew its stake in Terreno Realty by 38.6% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 11,320 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 3,155 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Terreno Realty by 2.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 403,367 shares of the real estate investment trust’s stock valued at $23,807,000 after purchasing an additional 10,936 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Terreno Realty by 22.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,351 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 425 shares during the last quarter. Moody National Bank Trust Division boosted its stake in shares of Terreno Realty by 3.4% during the 4th quarter. Moody National Bank Trust Division now owns 10,316 shares of the real estate investment trust’s stock valued at $606,000 after buying an additional 339 shares during the last quarter. Finally, Congress Asset Management Co. grew its position in shares of Terreno Realty by 3.8% during the fourth quarter. Congress Asset Management Co. now owns 566,448 shares of the real estate investment trust’s stock worth $33,256,000 after buying an additional 20,890 shares in the last quarter.

Analysts Set New Price Targets

Several analysts recently issued reports on TRNO shares. Citigroup upped their price target on shares of Terreno Realty from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. UBS Group set a $72.00 price objective on shares of Terreno Realty in a report on Monday, February 9th. Barclays reissued a “positive” rating and issued a $60.00 target price on shares of Terreno Realty in a research report on Tuesday, January 13th. Scotiabank upped their target price on shares of Terreno Realty from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Finally, KeyCorp lifted their price target on Terreno Realty from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.36.

Terreno Realty Stock Performance

Shares of TRNO opened at $62.16 on Monday. The stock has a market capitalization of $6.61 billion, a PE ratio of 15.94 and a beta of 1.12. The business’s fifty day moving average price is $63.45 and its 200 day moving average price is $61.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. Terreno Realty Corporation has a 12-month low of $48.18 and a 12-month high of $66.74.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 4th. The real estate investment trust reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.68. Terreno Realty had a net margin of 84.51% and a return on equity of 10.08%. The company had revenue of $137.48 million for the quarter, compared to analysts’ expectations of $124.72 million. Equities research analysts forecast that Terreno Realty Corporation will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, March 27th. This represents a $2.08 annualized dividend and a yield of 3.3%. Terreno Realty’s dividend payout ratio is 53.33%.

Terreno Realty 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.