Van ECK Associates Corp reduced its position in Terreno Realty Co. (NYSE:TRNO – Get Rating) by 55.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,285 shares of the real estate investment trust’s stock after selling 5,392 shares during the period. Van ECK Associates Corp’s holdings in Terreno Realty were worth $227,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in shares of Terreno Realty by 416.7% during the second quarter. Renaissance Technologies LLC now owns 403,000 shares of the real estate investment trust’s stock valued at $22,459,000 after buying an additional 325,000 shares during the period. Prelude Capital Management LLC increased its position in shares of Terreno Realty by 25.6% during the second quarter. Prelude Capital Management LLC now owns 42,434 shares of the real estate investment trust’s stock valued at $2,365,000 after buying an additional 8,653 shares during the period. Congress Asset Management Co. MA increased its position in shares of Terreno Realty by 0.9% during the second quarter. Congress Asset Management Co. MA now owns 81,329 shares of the real estate investment trust’s stock valued at $4,532,000 after buying an additional 735 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Terreno Realty by 61.5% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 20,890 shares of the real estate investment trust’s stock valued at $1,164,000 after buying an additional 7,953 shares during the period. Finally, Moody Aldrich Partners LLC increased its position in shares of Terreno Realty by 7.2% during the second quarter. Moody Aldrich Partners LLC now owns 160,885 shares of the real estate investment trust’s stock valued at $8,966,000 after buying an additional 10,757 shares during the period. 98.53% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
TRNO has been the topic of several analyst reports. JMP Securities decreased their price target on Terreno Realty from $75.00 to $69.00 and set a “market outperform” rating on the stock in a research report on Monday, October 10th. StockNews.com raised Terreno Realty from a “sell” rating to a “hold” rating in a report on Tuesday, January 3rd. Stifel Nicolaus began coverage on Terreno Realty in a report on Wednesday, October 12th. They set a “buy” rating and a $62.00 price objective for the company. TheStreet raised Terreno Realty from a “c+” rating to a “b-” rating in a report on Wednesday, November 30th. Finally, Scotiabank lowered Terreno Realty from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $73.00 to $54.00 in a report on Monday, October 17th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Terreno Realty has an average rating of “Moderate Buy” and a consensus price target of $66.67.
Terreno Realty Stock Performance
Terreno Realty (NYSE:TRNO – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.21). Terreno Realty had a net margin of 65.44% and a return on equity of 8.14%. The firm had revenue of $70.80 million for the quarter, compared to analysts’ expectations of $66.95 million. Equities research analysts predict that Terreno Realty Co. will post 1.97 earnings per share for the current year.
Terreno Realty Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, December 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. Terreno Realty’s dividend payout ratio is presently 70.48%.
Insider Buying and Selling at Terreno Realty
In other news, Director Leroy E. Carlson sold 4,000 shares of Terreno Realty stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $58.49, for a total value of $233,960.00. Following the sale, the director now directly owns 37,791 shares in the company, valued at approximately $2,210,395.59. The sale was disclosed in a filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by corporate insiders.
About Terreno Realty
Terreno Realty Corporation 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 condensed notes to the consolidated financial statements are unaudited.
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