Thrivent Financial for Lutherans Has $76.18 Million Stake in Terreno Realty Co. (NYSE:TRNO)

Thrivent Financial for Lutherans raised its position in shares of Terreno Realty Co. (NYSE:TRNO) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,288,168 shares of the real estate investment trust’s stock after buying an additional 14,995 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Terreno Realty were worth $76,183,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Cibc World Markets Corp bought a new stake in Terreno Realty during the fourth quarter valued at $529,000. Corient Private Wealth LLC boosted its position in Terreno Realty by 327.6% during the fourth quarter. Corient Private Wealth LLC now owns 22,968 shares of the real estate investment trust’s stock valued at $1,358,000 after acquiring an additional 17,596 shares during the last quarter. Natixis Advisors LLC bought a new stake in Terreno Realty during the fourth quarter valued at $789,000. Swiss National Bank boosted its position in Terreno Realty by 1.0% during the fourth quarter. Swiss National Bank now owns 190,600 shares of the real estate investment trust’s stock valued at $11,272,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Terreno Realty by 53.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,807 shares of the real estate investment trust’s stock valued at $3,774,000 after acquiring an additional 22,137 shares during the last quarter.

Terreno Realty Price Performance

Shares of NYSE TRNO opened at $66.50 on Wednesday. Terreno Realty Co. has a fifty-two week low of $53.78 and a fifty-two week high of $71.63. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 2.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23. The firm’s 50-day simple moving average is $65.41 and its 200 day simple moving average is $63.87.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating 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%. As a group, research analysts anticipate that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The company 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 $0.49 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 annualized dividend and a yield of 2.95%. Terreno Realty’s dividend payout ratio (DPR) is 102.08%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TRNO shares. Piper Sandler cut their price objective on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group raised shares of Terreno Realty from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $65.00 to $77.00 in a research report on Friday, February 21st. Barclays reissued an “equal weight” rating and set a $60.00 price objective (down previously from $68.00) on shares of Terreno Realty in a research report on Monday, January 13th. BMO Capital Markets increased their price objective on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Terreno Realty currently has an average rating of “Hold” and a consensus price target of $69.36.

About Terreno Realty

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.