Westpac Banking Corp Decreases Stock Holdings in Terreno Realty Co. (NYSE:TRNO)

Westpac Banking Corp lowered its position in shares of Terreno Realty Co. (NYSE:TRNO) by 17.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Terreno Realty by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock valued at $902,293,000 after acquiring an additional 1,484,301 shares in the last quarter. Norges Bank bought a new position in Terreno Realty in the 4th quarter worth $58,818,000. Bank of New York Mellon Corp lifted its position in shares of Terreno Realty by 58.3% in the 4th quarter. Bank of New York Mellon Corp now owns 948,090 shares of the real estate investment trust’s stock worth $56,070,000 after purchasing an additional 349,060 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Terreno Realty during the 4th quarter valued at about $19,792,000. Finally, Congress Asset Management Co. increased its position in shares of Terreno Realty by 72.0% during the fourth quarter. Congress Asset Management Co. now owns 449,093 shares of the real estate investment trust’s stock valued at $26,559,000 after buying an additional 188,060 shares during the period.

Terreno Realty Price Performance

Shares of TRNO opened at $57.87 on Friday. Terreno Realty Co. has a twelve month low of $53.78 and a twelve month high of $71.63. The company has a market capitalization of $5.96 billion, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93. The firm has a 50 day moving average of $65.99 and a 200 day moving average of $63.48. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. As a group, equities research analysts anticipate that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s payout ratio is currently 102.08%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Barclays cut their price objective on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft began coverage on Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price target on the stock. Piper Sandler decreased their price objective on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. JMP Securities restated a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a report on Monday, February 10th. Finally, BMO Capital Markets increased their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $69.09.

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.