Short Interest in Terreno Realty Co. (TRNO) Rises By 36.0%

Terreno Realty Co. (NYSE:TRNO) was the target of a large growth in short interest in the month of December. As of December 29th, there was short interest totalling 1,073,041 shares, a growth of 36.0% from the December 15th total of 789,237 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 375,678 shares, the days-to-cover ratio is presently 2.9 days.

Terreno Realty (NYSE:TRNO) opened at $34.56 on Wednesday. Terreno Realty has a one year low of $26.30 and a one year high of $38.54. The firm has a market capitalization of $1,861.84, a P/E ratio of 44.88, a P/E/G ratio of 2.77 and a beta of 0.79. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.47.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.10. Terreno Realty had a return on equity of 4.83% and a net margin of 33.00%. equities analysts predict that Terreno Realty will post 1.1 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.55%. The ex-dividend date was Thursday, December 28th. Terreno Realty’s payout ratio is currently 114.29%.

Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC purchased a new position in Terreno Realty during the second quarter worth $4,795,000. Fox Run Management L.L.C. purchased a new position in Terreno Realty during the third quarter worth $271,000. Eagle Asset Management Inc. increased its position in Terreno Realty by 4.8% during the third quarter. Eagle Asset Management Inc. now owns 145,237 shares of the real estate investment trust’s stock worth $5,306,000 after buying an additional 6,610 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Terreno Realty by 67.2% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,180 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 1,680 shares in the last quarter. Finally, 1060 Capital LLC purchased a new position in Terreno Realty during the third quarter worth $7,445,000. 98.74% of the stock is owned by institutional investors.

TRNO has been the subject of several recent analyst reports. BTIG Research reissued a “buy” rating and issued a $39.00 price target (up from $35.00) on shares of Terreno Realty in a report on Wednesday, September 27th. FBR & Co reaffirmed a “neutral” rating and issued a $39.00 price objective on shares of Terreno Realty in a research note on Tuesday, October 3rd. Jefferies Group reaffirmed a “hold” rating and issued a $34.00 price objective on shares of Terreno Realty in a research note on Tuesday, October 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $41.00 price objective (up from $37.00) on shares of Terreno Realty in a research note on Tuesday, November 7th. Finally, Zacks Investment Research downgraded Terreno Realty from a “buy” rating to a “hold” rating in a research note on Saturday. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $38.40.

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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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