The Manufacturers Life Insurance Company Raises Position in Terreno Realty Co. (NYSE:TRNO)

The Manufacturers Life Insurance Company increased its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,103 shares of the real estate investment trust’s stock after buying an additional 3,519 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Terreno Realty were worth $4,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Terreno Realty by 58.2% during the second quarter. CWM LLC now owns 1,191 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 438 shares during the last quarter. Blue Trust Inc. boosted its stake in Terreno Realty by 206.9% in the 2nd quarter. Blue Trust Inc. now owns 1,777 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 1,198 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Terreno Realty by 1.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 106,731 shares of the real estate investment trust’s stock worth $6,316,000 after purchasing an additional 1,268 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Terreno Realty by 11.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 32,541 shares of the real estate investment trust’s stock worth $1,940,000 after purchasing an additional 3,321 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Terreno Realty during the 2nd quarter valued at approximately $328,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TRNO shares. Mizuho reiterated an “underperform” rating and set a $62.00 price objective on shares of Terreno Realty in a research note on Thursday, September 5th. Wedbush reiterated a “neutral” rating and set a $70.00 price target (up previously from $57.00) on shares of Terreno Realty in a research note on Friday, August 16th. StockNews.com cut Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Wells Fargo & Company lowered Terreno Realty from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $71.00 to $75.00 in a research report on Wednesday, August 28th. Finally, JMP Securities raised their price target on shares of Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $69.22.

Terreno Realty Trading Down 0.7 %

Shares of NYSE:TRNO opened at $59.37 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20. Terreno Realty Co. has a 12-month low of $53.78 and a 12-month high of $71.63. The business has a 50 day moving average of $62.11 and a two-hundred day moving average of $63.41. The company has a market capitalization of $5.92 billion, a PE ratio of 32.62, a PEG ratio of 2.79 and a beta of 0.89.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.24). Terreno Realty had a net margin of 45.37% and a return on equity of 4.94%. The firm had revenue of $99.64 million during the quarter, compared to analyst estimates of $96.31 million. As a group, analysts forecast that Terreno Realty Co. will post 2.41 EPS for the current year.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 13th will be paid a $0.49 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 3.30%. Terreno Realty’s dividend payout ratio is presently 107.69%.

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.