Bahl & Gaynor Inc. Acquires 7,924 Shares of Terreno Realty Co. (NYSE:TRNO)

Bahl & Gaynor Inc. boosted its holdings in Terreno Realty Co. (NYSE:TRNO) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 342,603 shares of the real estate investment trust’s stock after acquiring an additional 7,924 shares during the quarter. Bahl & Gaynor Inc. owned 0.40% of Terreno Realty worth $21,471,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TRNO. New York State Common Retirement Fund increased its position in shares of Terreno Realty by 4.6% during the 4th quarter. New York State Common Retirement Fund now owns 77,052 shares of the real estate investment trust’s stock valued at $4,829,000 after purchasing an additional 3,367 shares during the last quarter. Duality Advisers LP bought a new position in shares of Terreno Realty during the 4th quarter valued at about $364,000. Handelsbanken Fonder AB increased its position in shares of Terreno Realty by 6.9% during the 4th quarter. Handelsbanken Fonder AB now owns 13,930 shares of the real estate investment trust’s stock valued at $873,000 after purchasing an additional 900 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Terreno Realty by 3.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,100 shares of the real estate investment trust’s stock valued at $946,000 after purchasing an additional 471 shares during the last quarter. Finally, Tandem Investment Advisors Inc. increased its position in shares of Terreno Realty by 40.2% during the 4th quarter. Tandem Investment Advisors Inc. now owns 977,150 shares of the real estate investment trust’s stock valued at $61,238,000 after purchasing an additional 280,109 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on Terreno Realty from $60.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Barclays began coverage on Terreno Realty in a research report on Wednesday, March 27th. They set an “overweight” rating and a $71.00 price target on the stock. Wedbush restated a “neutral” rating and set a $67.00 price target on shares of Terreno Realty in a research report on Thursday, March 28th. Scotiabank raised their price target on Terreno Realty from $64.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. Finally, StockNews.com upgraded Terreno Realty from a “sell” rating to a “hold” rating in a research report on Saturday, March 23rd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Terreno Realty presently has an average rating of “Hold” and an average price target of $67.11.

Terreno Realty Trading Down 0.6 %

NYSE TRNO traded down $0.30 on Friday, hitting $54.13. The company’s stock had a trading volume of 611,222 shares, compared to its average volume of 713,217. Terreno Realty Co. has a 52-week low of $50.42 and a 52-week high of $66.63. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.28. The company’s 50-day simple moving average is $62.10 and its 200 day simple moving average is $59.96. The firm has a market cap of $5.22 billion, a P/E ratio of 29.91, a PEG ratio of 2.54 and a beta of 0.81.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The company had revenue of $86.48 million during the quarter, compared to analysts’ expectations of $84.06 million. Terreno Realty had a return on equity of 5.55% and a net margin of 46.76%. Research analysts predict that Terreno Realty Co. will post 2.42 EPS for the current fiscal year.

Terreno Realty Announces Dividend

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