Impax Asset Management Group plc Sells 40,000 Shares of Terreno Realty Co. (NYSE:TRNO)

Impax Asset Management Group plc lowered its stake in Terreno Realty Co. (NYSE:TRNO - Free Report) by 26.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,000 shares of the real estate investment trust's stock after selling 40,000 shares during the period. Impax Asset Management Group plc owned 0.11% of Terreno Realty worth $7,351,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TRNO. Thrivent Financial for Lutherans grew its position in shares of Terreno Realty by 238.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,327,932 shares of the real estate investment trust's stock worth $78,587,000 after buying an additional 935,418 shares during the period. Vanguard Group Inc. lifted its stake in shares of Terreno Realty by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust's stock valued at $861,988,000 after purchasing an additional 919,851 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Terreno Realty in the 2nd quarter worth $39,064,000. Price T Rowe Associates Inc. MD increased its holdings in Terreno Realty by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,162,332 shares of the real estate investment trust's stock valued at $276,381,000 after purchasing an additional 291,051 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Terreno Realty by 7.3% in the second quarter. American Century Companies Inc. now owns 2,150,842 shares of the real estate investment trust's stock valued at $127,287,000 after buying an additional 146,808 shares during the period.

Terreno Realty Stock Performance

Terreno Realty stock traded down $0.19 during midday trading on Friday, reaching $60.66. 612,174 shares of the company's stock were exchanged, compared to its average volume of 707,501. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 2.71. The stock's 50-day simple moving average is $64.55 and its 200 day simple moving average is $62.90. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 33.33, a P/E/G ratio of 2.85 and a beta of 0.90. Terreno Realty Co. has a 52 week low of $53.78 and a 52 week high of $71.63.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted 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 business had revenue of $99.64 million during the quarter, compared to the consensus estimate of $96.31 million. Terreno Realty had a net margin of 45.37% and a return on equity of 4.94%. On average, analysts expect that Terreno Realty Co. will post 2.41 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho reiterated an "underperform" rating and issued a $62.00 price target on shares of Terreno Realty in a research report on Thursday, September 5th. 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. StockNews.com lowered shares of Terreno Realty from a "hold" rating to a "sell" rating in a research note on Friday, October 11th. Barclays dropped their price target on Terreno Realty from $69.00 to $68.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. Finally, Wells Fargo & Company cut Terreno Realty from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $71.00 to $75.00 in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Terreno Realty presently has a consensus rating of "Hold" and an average price target of $69.22.

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.