Bank of Montreal Can Increases Holdings in Terreno Realty Co. (TRNO)
Bank of Montreal Can boosted its position in Terreno Realty Co. (NYSE:TRNO) by 77.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,194 shares of the real estate investment trust’s stock after purchasing an additional 20,600 shares during the period. Bank of Montreal Can’s holdings in Terreno Realty were worth $1,654,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Eii Capital Management Inc. purchased a new position in Terreno Realty in the third quarter worth about $820,000. California Public Employees Retirement System lifted its position in shares of Terreno Realty by 16.1% during the 3rd quarter. California Public Employees Retirement System now owns 99,716 shares of the real estate investment trust’s stock valued at $3,608,000 after buying an additional 13,816 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Terreno Realty during the 3rd quarter valued at about $1,552,000. Chevy Chase Trust Holdings Inc. lifted its position in shares of Terreno Realty by 142.8% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 900,290 shares of the real estate investment trust’s stock valued at $32,573,000 after buying an additional 529,465 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. lifted its position in shares of Terreno Realty by 2.1% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 1,291,133 shares of the real estate investment trust’s stock valued at $46,713,000 after buying an additional 27,081 shares in the last quarter. 99.13% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on TRNO shares. National Securities raised Terreno Realty from a “neutral” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Wednesday, November 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $41.00 price objective (up from $37.00) on shares of Terreno Realty in a research report on Tuesday, November 7th. KeyCorp reaffirmed a “buy” rating and set a $39.00 price objective on shares of Terreno Realty in a research report on Sunday, November 5th. Sandler O’Neill set a $40.00 price objective on Terreno Realty and gave the company a “buy” rating in a research report on Friday, January 12th. Finally, Zacks Investment Research raised Terreno Realty from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Terreno Realty has an average rating of “Buy” and a consensus target price of $38.09.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Wednesday, March 28th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Tuesday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is presently 92.63%.
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Terreno Realty Company Profile
Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.
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