Terreno Realty Co. (NYSE:TRNO) Sees Significant Drop in Short Interest

by · The Markets Daily

Terreno Realty Co. (NYSE:TRNO – Get Free Report) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 2,980,000 shares, a decline of 16.1% from the September 30th total of 3,550,000 shares. Based on an average daily volume of 684,900 shares, the days-to-cover ratio is presently 4.4 days.

Insiders Place Their Bets

In other Terreno Realty news, CFO Jaime Jackson Cannon sold 4,998 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.39, for a total transaction of $341,813.22. Following the completion of the sale, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at approximately $6,970,787.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP John Tull Meyer sold 6,145 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.64, for a total value of $421,792.80. Following the completion of the sale, the executive vice president now directly owns 110,988 shares of the company’s stock, valued at $7,618,216.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jaime Jackson Cannon sold 4,998 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the sale, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at approximately $6,970,787.53. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,643 shares of company stock valued at $1,277,581. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Terreno Realty

Institutional investors and hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Terreno Realty in the 3rd quarter valued at about $26,000. Whittier Trust Co. raised its holdings in shares of Terreno Realty by 123.4% in the 1st quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 337 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Terreno Realty in the 2nd quarter valued at about $48,000. EntryPoint Capital LLC raised its holdings in Terreno Realty by 80.3% in the 1st quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 419 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Terreno Realty by 6,580.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 987 shares during the period.

Terreno Realty Stock Up 0.6 %

NYSE TRNO traded up $0.37 during trading hours on Monday, hitting $61.84. 219,549 shares of the company traded hands, compared to its average volume of 701,574. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 2.84 and a beta of 0.90. Terreno Realty has a twelve month low of $50.88 and a twelve month high of $71.63. The business’s 50-day moving average is $66.96 and its 200-day moving average is $62.53. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34.

Terreno Realty (NYSE:TRNO – Get Free Report) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.17). Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%. The firm had revenue of $94.25 million during the quarter, compared to the consensus estimate of $89.07 million. Sell-side analysts anticipate that Terreno Realty will post 2.41 earnings per share for the current year.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.17%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, September 30th. Terreno Realty’s dividend payout ratio is presently 102.08%.

Analyst Upgrades and Downgrades

TRNO has been the subject of several research analyst reports. JMP Securities boosted their price objective on Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 13th. Wells Fargo & Company cut shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $71.00 to $75.00 in a report on Wednesday, August 28th. Wedbush restated a “neutral” rating and set a $70.00 price objective (up from $57.00) on shares of Terreno Realty in a report on Friday, August 16th. The Goldman Sachs Group upped their target price on shares of Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, StockNews.com downgraded Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.22.

Get Our Latest Analysis on Terreno Realty

Terreno Realty Company Profile

(Get Free Report)

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.

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