Terreno Realty Corporation $TRNO Stock Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in Terreno Realty Corporation (NYSE:TRNO) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,631,838 shares of the real estate investment trust’s stock after acquiring an additional 92,519 shares during the quarter. Geode Capital Management LLC owned 2.55% of Terreno Realty worth $147,584,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TRNO. Geneos Wealth Management Inc. boosted its holdings in Terreno Realty by 304.3% in the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 350 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Terreno Realty by 90.2% in the 1st quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 378 shares during the last quarter. CWM LLC boosted its holdings in shares of Terreno Realty by 26.5% in the 2nd quarter. CWM LLC now owns 1,171 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 245 shares during the period. Bayforest Capital Ltd bought a new stake in shares of Terreno Realty during the 2nd quarter valued at about $152,000. Finally, Aigen Investment Management LP acquired a new stake in Terreno Realty during the first quarter worth about $211,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TRNO. KeyCorp decreased their target price on Terreno Realty from $70.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, August 21st. Weiss Ratings restated a “hold (c)” rating on shares of Terreno Realty in a research report on Wednesday, October 8th. UBS Group set a $71.00 target price on Terreno Realty in a research report on Tuesday, October 21st. Scotiabank raised shares of Terreno Realty from a “sector perform” rating to a “sector outperform” rating and set a $67.00 price target for the company in a report on Monday, November 10th. Finally, Barclays upped their price target on shares of Terreno Realty from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, September 15th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.00.

Terreno Realty Trading Up 0.3%

Shares of TRNO stock opened at $60.25 on Wednesday. Terreno Realty Corporation has a 1 year low of $48.18 and a 1 year high of $69.20. The firm has a market capitalization of $6.23 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The stock has a fifty day moving average of $58.98 and a two-hundred day moving average of $57.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. The business had revenue of $116.25 million for the quarter, compared to analysts’ expectations of $114.62 million. Terreno Realty had a net margin of 59.56% and a return on equity of 6.71%. As a group, research analysts expect that Terreno Realty Corporation will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Monday, December 15th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, December 15th. Terreno Realty’s dividend payout ratio is currently 66.03%.

Insider Activity

In other news, EVP John Tull Meyer sold 4,758 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $59.95, for a total value of $285,242.10. Following the completion of the transaction, the executive vice president directly owned 119,949 shares in the company, valued at $7,190,942.55. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.40% of the stock is owned by company insiders.

About Terreno Realty

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.