ExodusPoint Capital Management LP Decreases Holdings in Terreno Realty Co. (NYSE:TRNO)

ExodusPoint Capital Management LP lowered its holdings in Terreno Realty Co. (NYSE:TRNO) by 38.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 183,895 shares of the real estate investment trust’s stock after selling 114,592 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Terreno Realty were worth $10,876,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in Terreno Realty by 10.8% in 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Terreno Realty by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,434,904 shares of the real estate investment trust’s stock worth $144,031,000 after purchasing an additional 19,900 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Terreno Realty by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,503 shares of the real estate investment trust’s stock valued at $108,729,000 after purchasing an additional 110,610 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Terreno Realty by 1.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,288,168 shares of the real estate investment trust’s stock valued at $76,183,000 after purchasing an additional 14,995 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Terreno Realty by 2.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,264,657 shares of the real estate investment trust’s stock worth $74,792,000 after buying an additional 35,034 shares during the last quarter.

Terreno Realty Stock Performance

Shares of TRNO stock opened at $55.86 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $65.80 and a 200-day simple moving average of $63.39. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93. Terreno Realty Co. has a 12-month low of $53.78 and a 12-month high of $71.63.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. On average, equities analysts forecast that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Thursday, March 27th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Thursday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is 102.08%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TRNO. Scotiabank boosted their price objective on Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a research note on Friday, February 28th. 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. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $77.00 in a research note on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a research note on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $69.09.

Terreno Realty 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.