Cornercap Investment Counsel Inc. Sells 5,425 Shares of Terreno Realty Co. (NYSE:TRNO)

Cornercap Investment Counsel Inc. lessened its holdings in Terreno Realty Co. (NYSE:TRNO) by 40.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,893 shares of the real estate investment trust’s stock after selling 5,425 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Terreno Realty were worth $527,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Huntington National Bank increased its holdings in Terreno Realty by 7.4% in the 3rd quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 177 shares during the period. Covestor Ltd grew its holdings in shares of Terreno Realty by 7.2% in the 1st quarter. Covestor Ltd now owns 2,950 shares of the real estate investment trust’s stock worth $196,000 after purchasing an additional 197 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Terreno Realty by 9.9% in the 2nd quarter. Amalgamated Bank now owns 3,154 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 284 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Terreno Realty by 1.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,830 shares of the real estate investment trust’s stock worth $1,860,000 after purchasing an additional 300 shares during the last quarter. Finally, Creative Planning grew its holdings in shares of Terreno Realty by 7.0% in the 2nd quarter. Creative Planning now owns 4,797 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 312 shares during the last quarter.

Wall Street Analysts Forecast Growth

TRNO has been the topic of several analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $70.00 target price (up previously 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 report on Monday, August 12th. Barclays decreased their price objective on shares of Terreno Realty from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Mizuho reissued an “underperform” rating and set a $62.00 price objective on shares of Terreno Realty in a report on Thursday, September 5th. Finally, StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Terreno Realty has an average rating of “Hold” and an average target price of $69.22.

Terreno Realty Stock Performance

Terreno Realty stock opened at $60.66 on Friday. The company has a market cap of $6.05 billion, a PE ratio of 33.33, a PEG ratio of 2.79 and a beta of 0.90. The company’s 50-day moving average is $64.55 and its two-hundred day moving average is $62.90. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20. Terreno Realty Co. has a 1 year low of $53.78 and a 1 year high of $71.63.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). The firm had revenue of $99.64 million during the quarter, compared to analyst estimates of $96.31 million. Terreno Realty had a net margin of 45.37% and a return on equity of 4.94%. Equities analysts anticipate that Terreno Realty Co. will post 2.41 earnings per share for the current year.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 13th will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.23%. Terreno Realty’s dividend payout ratio is 107.69%.

Terreno Realty Profile

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.