State of New Jersey Common Pension Fund D Sells 1,322 Shares of Terreno Realty Co. (NYSE:TRNO)

State of New Jersey Common Pension Fund D reduced its stake in Terreno Realty Co. (NYSE:TRNO) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,908 shares of the real estate investment trust’s stock after selling 1,322 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Terreno Realty were worth $8,517,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Terreno Realty by 1.4% in the third quarter. Vanguard Group Inc. now owns 11,919,178 shares of the real estate investment trust’s stock worth $677,009,000 after purchasing an additional 168,728 shares during the period. Wellington Management Group LLP grew its holdings in Terreno Realty by 8.4% in the third quarter. Wellington Management Group LLP now owns 598,005 shares of the real estate investment trust’s stock worth $33,967,000 after purchasing an additional 46,475 shares during the period. Townsquare Capital LLC grew its holdings in Terreno Realty by 12.0% in the third quarter. Townsquare Capital LLC now owns 22,073 shares of the real estate investment trust’s stock worth $1,254,000 after purchasing an additional 2,364 shares during the period. Wolverine Asset Management LLC grew its holdings in Terreno Realty by 63.9% in the third quarter. Wolverine Asset Management LLC now owns 27,224 shares of the real estate investment trust’s stock worth $1,546,000 after purchasing an additional 10,617 shares during the period. Finally, Invesco Ltd. grew its holdings in Terreno Realty by 11.1% in the third quarter. Invesco Ltd. now owns 4,113,232 shares of the real estate investment trust’s stock worth $233,632,000 after purchasing an additional 411,973 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TRNO. JMP Securities restated a “market outperform” rating and issued a $65.00 price objective on shares of Terreno Realty in a report on Thursday, March 28th. Scotiabank increased their price target on shares of Terreno Realty from $64.00 to $66.00 and gave the company a “sector perform” rating in a report on Monday, February 12th. The Goldman Sachs Group increased their price target on shares of Terreno Realty from $60.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. StockNews.com upgraded shares of Terreno Realty from a “sell” rating to a “hold” rating in a report on Saturday, March 23rd. Finally, Wedbush reiterated a “neutral” rating and set a $67.00 price target on shares of Terreno Realty in a report on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Terreno Realty has a consensus rating of “Hold” and an average target price of $67.11.

Terreno Realty Price Performance

TRNO traded down $0.30 on Friday, hitting $54.13. 611,222 shares of the company’s stock traded hands, compared to its average volume of 713,217. The company’s 50 day simple moving average is $62.27 and its 200-day simple moving average is $59.98. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.28. Terreno Realty Co. has a one year low of $50.42 and a one year high of $66.63. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 30.06, a P/E/G ratio of 2.54 and a beta of 0.81.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results 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 company had revenue of $86.48 million for the quarter, compared to the consensus estimate of $84.06 million. As a group, research analysts anticipate that Terreno Realty Co. will post 2.42 EPS for the current year.

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 28th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Wednesday, March 27th. Terreno Realty’s payout ratio is 99.45%.

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.