Manchester Capital Management LLC Makes New Investment in Terreno Realty Co. (NYSE:TRNO)

Manchester Capital Management LLC bought a new position in shares of Terreno Realty Co. (NYSE:TRNO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 453 shares of the real estate investment trust’s stock, valued at approximately $27,000.

Several other hedge funds also recently bought and sold shares of TRNO. Stifel Financial Corp lifted its position in shares of Terreno Realty by 39.3% during the third quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock worth $6,156,000 after purchasing an additional 25,988 shares in the last quarter. Barclays PLC lifted its position in shares of Terreno Realty by 131.0% during the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock worth $11,360,000 after purchasing an additional 96,380 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Terreno Realty by 22.3% during the third 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 purchasing an additional 315,506 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Terreno Realty by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock worth $161,423,000 after purchasing an additional 8,940 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Terreno Realty during the third quarter worth about $225,000.

Terreno Realty Stock Performance

Shares of Terreno Realty stock opened at $66.74 on Monday. The firm has a market capitalization of $6.66 billion, a P/E ratio of 34.76, a P/E/G ratio of 2.85 and a beta of 0.91. Terreno Realty Co. has a 52 week low of $53.78 and a 52 week high of $71.63. The company has a quick ratio of 2.71, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $62.24 and its two-hundred day moving average is $64.00.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping 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%. Research analysts forecast that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s dividend payout ratio is presently 102.08%.

Analyst Ratings Changes

Several brokerages recently weighed in on TRNO. Barclays reaffirmed an “equal weight” rating and issued a $60.00 target price (down previously from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a report on Monday, February 10th. Piper Sandler reduced their target price on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Scotiabank reduced their target price on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a report on Friday, October 25th. Finally, BMO Capital Markets raised their target price on shares of Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.45.

Terreno Realty Company Profile

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.