Westpac Banking Corp Sells 4,355 Shares of Terreno Realty Co. (NYSE:TRNO)

by · The Cerbat Gem

Westpac Banking Corp decreased its position in shares of Terreno Realty Co. (NYSE:TRNO – Free Report) by 17.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,947 shares of the real estate investment trust’s stock after selling 4,355 shares during the period. Westpac Banking Corp’s holdings in Terreno Realty were worth $1,180,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TRNO. Vanguard Group Inc. raised its stake in Terreno Realty by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock valued at $902,293,000 after purchasing an additional 1,484,301 shares during the period. Geode Capital Management LLC raised its position in shares of Terreno Realty by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust’s stock valued at $144,031,000 after buying an additional 19,900 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Terreno Realty by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,838,503 shares of the real estate investment trust’s stock worth $108,729,000 after buying an additional 110,610 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Terreno Realty by 1.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,288,168 shares of the real estate investment trust’s stock worth $76,183,000 after buying an additional 14,995 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Terreno Realty by 2.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,264,657 shares of the real estate investment trust’s stock worth $74,792,000 after acquiring an additional 35,034 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have commented on TRNO shares. Scotiabank boosted their price target on shares of Terreno Realty from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Friday, February 28th. Piper Sandler reduced their target price on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. The Goldman Sachs Group raised Terreno Realty from a “neutral” rating to a “buy” rating and increased their price target for the company from $65.00 to $77.00 in a research note on Friday, February 21st. BMO Capital Markets lifted their price objective on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. Finally, JMP Securities reiterated a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $69.09.

Read Our Latest Research Report on Terreno Realty

Terreno Realty Stock Performance

NYSE:TRNO opened at $57.87 on Friday. The firm has a market capitalization of $5.96 billion, a PE ratio of 30.14, a PEG ratio of 2.82 and a beta of 0.93. The stock’s fifty day moving average is $65.99 and its 200 day moving average is $63.48. Terreno Realty Co. has a fifty-two week low of $53.78 and a fifty-two week high of $71.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23.

Terreno Realty (NYSE:TRNO – Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. On average, sell-side analysts anticipate that Terreno Realty Co. will post 2.64 earnings per share for the current year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is currently 102.08%.

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.

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