In recent news, Toroso Investments LLC has significantly increased its stake in Terreno Realty Co. (NYSE: TRNO), according to a filing with the Securities and Exchange Commission. As of the first quarter, the investment firm owned 17,009 shares of Terreno Realty’s stock, representing an 83.8% increase from its previous holdings. The additional 7,756 shares acquired during this period are valued at approximately $1,099,000.
Terreno Realty Co., a real estate investment trust (REIT), recently reported its earnings for the quarter ending on August 2nd. The company fell short of expectations with an EPS (earnings per share) of $0.48, missing the consensus estimate by $0.06. Despite this underperformance, Terreno Realty recorded a revenue of $79.54 million for the quarter, surpassing analyst estimates that had projected $77.84 million. Moreover, the company demonstrated a return on equity of 6.01% and net margin of 48.07%.
Market analysts have closely followed Terreno Realty and issued several research reports on the stock. Citigroup initiated coverage on the company with a “neutral” rating and set a target price of $63.00 per share in their report released on July 19th. Similarly, The Goldman Sachs Group began coverage by assigning a “neutral” rating to Terreno Realty with a target price of $65.00 per share in their report published on July 11th. In contrast, StockNews.com gave Terreno Realty a “hold” rating in their research note from August 17th.
Based on data compiled from Bloomberg.com, an average rating is currently assigned to Terreno Realty as a “Moderate Buy,” while experts have established a consensus price target for the stock at $66.29.
As we approach the end of fiscal year 2023, analysts anticipate Terreno Realty to post an earnings per share of 2.2. This projection allows investors to gauge the company’s future performance and make informed decisions regarding their investment strategies.
The growth in Toroso Investments LLC’s stake in Terreno Realty indicates a positive sentiment towards the company’s prospects within the real estate market. It is evident that despite falling short of expectations on their recent earnings report, Terreno Realty has displayed strong financial figures, coveted revenue, and ample net margin.
Investors should consider various research reports and ratings provided by reputable financial institutions before making any firm conclusions about Terreno Realty Co. These findings allow for a comprehensive evaluation of its current stock value and future potential.
Terreno Realty Corporation
TRNO
Buy
Updated on: 19/09/2023
Financial Health
Healthy
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Changes in Holdings and Positive Outlook for Terreno Realty Corporation
Terreno Realty Corporation (TRNO), a leading real estate investment trust (REIT), has recently seen changes in its holdings by institutional investors and hedge funds. One notable institution, Advisor Group Holdings Inc., increased its stake in Terreno Realty by 6.8% during the first quarter, acquiring an additional 253 shares and bringing its total ownership to 3,948 shares valued at $320,000.
MetLife Investment Management LLC also boosted its holdings in Terreno Realty, raising its position by 55.4% during the same period. The firm now owns 39,255 shares of the company’s stock valued at $2,907,000 after purchasing an additional 13,997 shares.
Rhumbline Advisers followed suit with a significant increase in its holdings of Terreno Realty. The firm acquired an additional 20,239 shares during the first quarter and currently holds 137,608 shares valued at $10,190,000.
Great West Life Assurance Co. Can demonstrated a more conservative increase in its holdings with a 6.0% boost in the first quarter. The firm now owns 63,883 shares worth $4,907,000 after purchasing an additional 3,589 shares.
Lastly, Dimensional Fund Advisors LP raised its stake by 1.7% in the first quarter. The investment management company acquired an additional 22,692 shares and now holds a total of 1,336,796 shares with a value of $98,993,000.
On September 18th of this year, Terreno Realty stock opened at $60.68 per share. The company has shown stability with a debt-to-equity ratio of just 0.30 and both current and quick ratios standing at a healthy level of 0.93.
With a market capitalization of $5.09 billion and a price-to-earnings ratio of 32.98, Terreno Realty possesses a solid foundation in the real estate investment market. The company’s stock has experienced a one year low of $50.36 and a one year high of $67.03, with the current fifty-day moving average price at $59.82 and the two-hundred-day moving average price at $60.71.
Terreno Realty has garnered attention from various research analysts who have conducted reports on the company. Notably, Citigroup initiated coverage on Terreno Realty with a “neutral” rating and set a target price of $63.00 per share. The Goldman Sachs Group also began coverage with a “neutral” rating, alongside a target price of $65.00 for the company’s stock.
Recently, StockNews.com gave shares of Terreno Realty a “hold” rating as well. In total, four analysts have rated the stock as moderate buy, while four others have issued a hold rating for TRNO stock.
The company recently announced an increase in its quarterly dividend from $0.40 to $0.45 per share to be paid on Friday, October 13th. Shareholders of record as of Friday, September 29th will be eligible for this dividend payout, representing an annualized dividend of $1.80 and yielding 2.97%. This announcement reflects Terreno Realty’s commitment to rewarding its shareholders with consistent returns.
In other news regarding Terreno Realty, President Michael A. Coke sold 10,000 shares valued at approximately $596,000 on August 4th this year while holding roughly 396,000 shares in the company.
As of now, insiders own about 2.40% of Terreno Realty’s outstanding shares according to Securities & Exchange Commission filings available through an accessible hyperlink.
Overall, despite some fluctuations in institutional holdings and recent insider trading activity, Terreno Realty remains well-positioned with significant institutional support and consistent dividend payments. The company’s stock has received positive ratings from research analysts and displays stability in the real estate investment sector. With its strategic approach and strong market presence, Terreno Realty is set to continue delivering value to its shareholders.
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