Fmr LLC cut its stake in shares of Terreno Realty Co. (NYSE:TRNO) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,234,486 shares of the real estate investment trust’s stock after selling 55,631 shares during the quarter. Fmr LLC owned approximately 7.16% of Terreno Realty worth $159,639,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Teachers Insurance & Annuity Association of America raised its holdings in Terreno Realty by 3.2% during the third quarter. Teachers Insurance & Annuity Association of America now owns 72,921 shares of the real estate investment trust’s stock worth $2,749,000 after buying an additional 2,266 shares during the last quarter. American International Group Inc. raised its holdings in shares of Terreno Realty by 6.2% in the third quarter. American International Group Inc. now owns 38,069 shares of the real estate investment trust’s stock valued at $1,435,000 after purchasing an additional 2,213 shares during the last quarter. Suffolk Capital Management LLC raised its holdings in shares of Terreno Realty by 10.2% in the third quarter. Suffolk Capital Management LLC now owns 26,154 shares of the real estate investment trust’s stock valued at $986,000 after purchasing an additional 2,429 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Terreno Realty by 2.4% in the third quarter. BlackRock Inc. now owns 5,808,106 shares of the real estate investment trust’s stock valued at $218,965,000 after purchasing an additional 138,624 shares during the last quarter. Finally, Martingale Asset Management L P purchased a new stake in shares of Terreno Realty in the third quarter valued at about $434,000. 99.92% of the stock is currently owned by institutional investors and hedge funds.
NYSE TRNO opened at $38.64 on Friday. Terreno Realty Co. has a 52-week low of $31.56 and a 52-week high of $39.62. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market cap of $2.29 billion, a P/E ratio of 35.45, a P/E/G ratio of 2.95 and a beta of 0.71.
Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Terreno Realty had a net margin of 34.83% and a return on equity of 4.68%. The business had revenue of $37.90 million during the quarter, compared to the consensus estimate of $37.68 million. On average, equities research analysts anticipate that Terreno Realty Co. will post 1.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Tuesday, December 18th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, December 17th. This represents a $0.96 dividend on an annualized basis and a yield of 2.48%. Terreno Realty’s dividend payout ratio (DPR) is presently 88.07%.
Several brokerages have recently commented on TRNO. Zacks Investment Research downgraded shares of Terreno Realty from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. ValuEngine upgraded shares of Terreno Realty from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Mizuho began coverage on shares of Terreno Realty in a report on Wednesday, October 3rd. They issued a “neutral” rating for the company. Finally, JMP Securities reiterated a “hold” rating on shares of Terreno Realty in a report on Tuesday, October 16th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Terreno Realty has a consensus rating of “Buy” and a consensus target price of $39.75.
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About Terreno Realty
Terreno Realty Corporation 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
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