Hudson Bay Capital Management LP Buys 305,806 Shares of Terreno Realty Corporation $TRNO

by · The Cerbat Gem

Hudson Bay Capital Management LP lifted its stake in Terreno Realty Corporation (NYSE:TRNO – Free Report) by 359.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 390,919 shares of the real estate investment trust’s stock after acquiring an additional 305,806 shares during the quarter. Hudson Bay Capital Management LP owned 0.38% of Terreno Realty worth $21,919,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TRNO. Norges Bank purchased a new stake in Terreno Realty in the second quarter worth approximately $156,525,000. Osterweis Capital Management Inc. purchased a new position in shares of Terreno Realty in the 2nd quarter worth $33,699,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Terreno Realty by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust’s stock worth $262,918,000 after acquiring an additional 523,950 shares during the period. Schroder Investment Management Group increased its position in Terreno Realty by 55.7% during the second quarter. Schroder Investment Management Group now owns 1,131,989 shares of the real estate investment trust’s stock valued at $63,471,000 after acquiring an additional 405,015 shares during the last quarter. Finally, State Street Corp lifted its holdings in Terreno Realty by 4.0% in the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust’s stock valued at $336,139,000 after acquiring an additional 230,444 shares during the period.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $61.37 on Friday. The company has a market capitalization of $6.34 billion, a P/E ratio of 19.48, a P/E/G ratio of 2.43 and a beta of 1.12. Terreno Realty Corporation has a 1-year low of $48.18 and a 1-year high of $69.20. The firm’s 50 day simple moving average is $60.43 and its two-hundred day simple moving average is $58.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

Terreno Realty (NYSE:TRNO – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $1.00 EPS for the quarter, beating the consensus estimate of $0.66 by $0.34. The firm had revenue of $116.25 million for the quarter, compared to the consensus estimate of $114.62 million. Terreno Realty had a net margin of 72.41% and a return on equity of 8.27%. Research analysts expect that Terreno Realty Corporation will post 2.64 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Monday, December 15th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, December 15th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. Terreno Realty’s dividend payout ratio (DPR) is currently 66.03%.

Insider Transactions at Terreno Realty

In related news, EVP John Tull Meyer sold 4,758 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $59.95, for a total value of $285,242.10. Following the transaction, the executive vice president directly owned 119,949 shares of the company’s stock, valued at approximately $7,190,942.55. The trade was a 3.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

TRNO has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price target on Terreno Realty from $64.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Barclays raised their price objective on shares of Terreno Realty from $56.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, September 15th. Piper Sandler upgraded shares of Terreno Realty from a “neutral” rating to an “overweight” rating and set a $75.00 price target on the stock in a research report on Monday, November 10th. Citigroup lifted their price target on shares of Terreno Realty from $58.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Finally, KeyCorp upped their price objective on Terreno Realty from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Terreno Realty has an average rating of “Hold” and a consensus price target of $65.54.

Check Out Our Latest Analysis on Terreno Realty

Terreno Realty Company Profile

(Free Report)

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.

Further Reading

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