The PNC Financial Services Group Inc. Acquires 463 Shares of Terreno Realty Co. (NYSE:TRNO)

The PNC Financial Services Group Inc. grew its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 12.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,065 shares of the real estate investment trust’s stock after purchasing an additional 463 shares during the quarter. The PNC Financial Services Group Inc.’s holdings in Terreno Realty were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TRNO. Norges Bank bought a new position in shares of Terreno Realty during the 4th quarter valued at $42,726,000. BlackRock Inc. raised its holdings in shares of Terreno Realty by 6.8% during the 4th quarter. BlackRock Inc. now owns 6,835,890 shares of the real estate investment trust’s stock valued at $399,967,000 after purchasing an additional 435,011 shares in the last quarter. Thornburg Investment Management Inc. bought a new position in shares of Terreno Realty during the 4th quarter valued at $12,216,000. Standard Life Aberdeen plc raised its holdings in shares of Terreno Realty by 64.0% during the 1st quarter. Standard Life Aberdeen plc now owns 504,963 shares of the real estate investment trust’s stock valued at $29,224,000 after purchasing an additional 197,137 shares in the last quarter. Finally, Kempen Capital Management N.V. bought a new position in shares of Terreno Realty during the 4th quarter valued at $6,635,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

NYSE TRNO opened at $66.55 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.29. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 55.00 and a beta of 0.56. The stock has a fifty day moving average of $63.00. Terreno Realty Co. has a 52-week low of $50.78 and a 52-week high of $66.87.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Thursday, May 6th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.15). The company had revenue of $50.69 million during the quarter, compared to analyst estimates of $49.23 million. Terreno Realty had a return on equity of 5.20% and a net margin of 43.23%. Sell-side analysts forecast that Terreno Realty Co. will post 1.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 14th. Shareholders of record on Wednesday, June 30th will be given a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $1.16 annualized dividend and a yield of 1.74%. Terreno Realty’s dividend payout ratio is 80.56%.

A number of research analysts have recently weighed in on TRNO shares. BTIG Research raised their price target on shares of Terreno Realty from $67.00 to $70.00 and gave the company a “buy” rating in a report on Friday, April 16th. Mizuho lifted their target price on shares of Terreno Realty from $58.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, April 21st. Berenberg Bank downgraded shares of Terreno Realty from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a report on Thursday, May 27th. Finally, Zacks Investment Research upgraded shares of Terreno Realty from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Tuesday, May 4th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $66.75.

Terreno Realty Profile

Terreno Realty Corporation and together with its subsidiaries, the ÂCompanyÂ) 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 condensed notes to the consolidated financial statements are unaudited.

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Institutional Ownership by Quarter for Terreno Realty (NYSE:TRNO)

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