Congress Wealth Management LLC DE Purchases 2,624 Shares of Terreno Realty Co. (NYSE:TRNO)

Posted by Defense World Staff on Jun 27th, 2023

Congress Wealth Management LLC DE raised its stake in Terreno Realty Co. (NYSE:TRNO – Get Rating) by 12.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,974 shares of the real estate investment trust’s stock after buying an additional 2,624 shares during the period. Congress Wealth Management LLC DE’s holdings in Terreno Realty were worth $1,549,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ronald Blue Trust Inc. boosted its holdings in shares of Terreno Realty by 1,519.4% during the fourth quarter. Ronald Blue Trust Inc. now owns 502 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 471 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Terreno Realty during the first quarter valued at approximately $28,000. Itau Unibanco Holding S.A. bought a new stake in shares of Terreno Realty during the fourth quarter valued at approximately $31,000. First Eagle Investment Management LLC increased its position in shares of Terreno Realty by 26.3% during the fourth quarter. First Eagle Investment Management LLC now owns 908 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 189 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Terreno Realty during the fourth quarter valued at approximately $89,000. Institutional investors own 99.10% of the company’s stock.

Terreno Realty Stock Up 2.5 %

TRNO opened at $58.06 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.21 and a current ratio of 0.21. Terreno Realty Co. has a fifty-two week low of $50.36 and a fifty-two week high of $67.03. The firm’s fifty day moving average is $60.62 and its 200 day moving average is $61.28. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 2.89 and a beta of 0.83.

Terreno Realty (NYSE:TRNO – Get Rating) last posted its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.24). Terreno Realty had a return on equity of 8.83% and a net margin of 70.11%. The business had revenue of $74.65 million during the quarter, compared to the consensus estimate of $74.96 million. On average, sell-side analysts forecast that Terreno Realty Co. will post 2.18 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. Terreno Realty’s dividend payout ratio (DPR) is presently 60.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and set a $71.00 price target on shares of Terreno Realty in a research report on Monday, April 3rd. StockNews.com assumed coverage on shares of Terreno Realty in a research report on Thursday, May 18th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.71.

About Terreno Realty

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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 We invest in several types of industrial real estate, including warehouse/distribution (approximately 79.5% of our total annualized base rent as of December 31, 2021), flex (including light industrial and research and development, or R&D) (approximately 4.8%), transshipment (approximately 6.4%) and improved land (approximately 9.3%).