Spirit of America Management Corp NY Cuts Stake in Terreno Realty Co. (NYSE:TRNO)

Spirit of America Management Corp NY reduced its position in Terreno Realty Co. (NYSE:TRNO) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,975 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. Spirit of America Management Corp NY’s holdings in Terreno Realty were worth $2,482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stifel Financial Corp grew its holdings in Terreno Realty by 39.3% in the third quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock worth $6,156,000 after purchasing an additional 25,988 shares during the last quarter. Barclays PLC grew its holdings in shares of Terreno Realty by 131.0% during the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock valued at $11,360,000 after buying an additional 96,380 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Terreno Realty by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock valued at $115,475,000 after buying an additional 315,506 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Terreno Realty by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock valued at $161,423,000 after buying an additional 8,940 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Terreno Realty during the third quarter valued at $225,000.

Terreno Realty Trading Up 1.1 %

Shares of Terreno Realty stock opened at $65.97 on Wednesday. The firm has a 50-day simple moving average of $61.07 and a two-hundred day simple moving average of $64.08. The company has a market cap of $6.58 billion, a P/E ratio of 36.25, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. Terreno Realty Co. has a fifty-two week low of $53.78 and a fifty-two week high of $71.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 2.71.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data 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 return on equity of 4.94% and a net margin of 45.37%. As a group, equities analysts predict that Terreno Realty Co. will post 2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Scotiabank dropped their price objective on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective on the stock. StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a report on Friday, October 11th. BMO Capital Markets began coverage on shares of Terreno Realty in a research report on Tuesday. They set a “market perform” rating and a $71.00 target price for the company. Finally, JMP Securities restated a “market outperform” rating and set a $72.00 target price on shares of Terreno Realty in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $67.82.

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.