Ninepoint Partners LP Sells 352 Shares of Terreno Realty Co. (NYSE:TRNO)

Ninepoint Partners LP lessened its position in Terreno Realty Co. (NYSE:TRNO) by 16.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,814 shares of the real estate investment trust’s stock after selling 352 shares during the period. Ninepoint Partners LP’s holdings in Terreno Realty were worth $114,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in shares of Terreno Realty during the 1st quarter worth approximately $28,000. Ronald Blue Trust Inc. lifted its position in Terreno Realty by 93.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 537 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 260 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Terreno Realty during the 4th quarter valued at $35,000. Blue Trust Inc. increased its holdings in shares of Terreno Realty by 84.2% in the 4th quarter. Blue Trust Inc. now owns 989 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 452 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Terreno Realty in the fourth quarter worth $89,000.

Terreno Realty Price Performance

Shares of NYSE TRNO traded down $0.21 during mid-day trading on Friday, reaching $54.54. The company’s stock had a trading volume of 212,722 shares, compared to its average volume of 711,142. The stock has a fifty day moving average of $63.02 and a two-hundred day moving average of $60.02. The firm has a market capitalization of $5.26 billion, a PE ratio of 30.25, a P/E/G ratio of 2.55 and a beta of 0.81. Terreno Realty Co. has a 52 week low of $50.42 and a 52 week high of $66.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.68 and a quick ratio of 2.68.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. The business had revenue of $86.48 million during the quarter, compared to analyst estimates of $84.06 million. As a group, sell-side analysts anticipate that Terreno Realty Co. will post 2.42 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 28th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.30%. The ex-dividend date was Wednesday, March 27th. Terreno Realty’s payout ratio is currently 99.45%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Scotiabank lifted their price objective on Terreno Realty from $64.00 to $66.00 and gave the stock a “sector perform” rating in a report on Monday, February 12th. JMP Securities reissued a “market outperform” rating and set a $65.00 price objective on shares of Terreno Realty in a report on Thursday, March 28th. StockNews.com raised Terreno Realty from a “sell” rating to a “hold” rating in a report on Saturday, March 23rd. The Goldman Sachs Group lifted their price target on shares of Terreno Realty from $60.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Finally, Piper Sandler upped their price target on Terreno Realty from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $67.11.

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.