Terreno Realty Co. (NYSE:TRNO) Short Interest Update

Terreno Realty Co. (NYSE:TRNO) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 5,930,000 shares, a decline of 13.8% from the February 13th total of 6,880,000 shares. Currently, 6.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is currently 4.4 days.

Terreno Realty Price Performance

TRNO stock traded down $0.23 during trading on Thursday, hitting $66.11. The company had a trading volume of 41,174 shares, compared to its average volume of 851,334. The company has a fifty day moving average price of $65.56 and a two-hundred day moving average price of $63.88. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.24. The company has a market cap of $6.60 billion, a P/E ratio of 34.43, a P/E/G ratio of 2.82 and a beta of 0.93. Terreno Realty has a fifty-two week low of $53.78 and a fifty-two week high of $71.63.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. Equities research analysts expect that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s dividend payout ratio is currently 102.08%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TRNO shares. The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and lifted their price target for the company from $65.00 to $77.00 in a report on Friday, February 21st. Barclays reissued an “equal weight” rating and issued a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. JMP Securities reissued a “market outperform” rating and issued a $72.00 price objective on shares of Terreno Realty in a research note on Monday, February 10th. Scotiabank raised their price objective on Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a research note on Friday, February 28th. Finally, BMO Capital Markets raised their price objective on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $69.36.

Hedge Funds Weigh In On Terreno Realty

A number of institutional investors and hedge funds have recently bought and sold shares of TRNO. Assetmark Inc. boosted its stake in Terreno Realty by 2,381.3% in the third quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 381 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in Terreno Realty by 1.7% in the third quarter. Mutual of America Capital Management LLC now owns 88,179 shares of the real estate investment trust’s stock worth $5,893,000 after purchasing an additional 1,452 shares in the last quarter. Quest Partners LLC acquired a new position in Terreno Realty in the third quarter worth $370,000. Pathstone Holdings LLC boosted its stake in Terreno Realty by 4.4% in the third quarter. Pathstone Holdings LLC now owns 23,624 shares of the real estate investment trust’s stock worth $1,579,000 after purchasing an additional 995 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in Terreno Realty in the third quarter worth $1,397,000.

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.