Terreno Realty Co. (NYSE:TRNO) Short Interest Down 16.1% in October

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

Analyst Ratings Changes

Several research firms have recently weighed in on TRNO. Barclays lowered their price target on Terreno Realty from $69.00 to $68.00 and set an "overweight" rating on the stock in a report on Monday. The Goldman Sachs Group raised their target price on Terreno Realty from $60.00 to $68.00 and gave the stock a "neutral" rating in a research report on Monday, August 12th. Wells Fargo & Company lowered 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 research report on Wednesday, August 28th. Wedbush reissued a "neutral" rating and issued a $70.00 price objective (up previously from $57.00) on shares of Terreno Realty in a report on Friday, August 16th. Finally, Scotiabank cut their target price on shares of Terreno Realty from $70.00 to $67.00 and set a "sector perform" rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $69.22.

Terreno Realty Price Performance

Shares of TRNO stock traded up $0.43 on Monday, hitting $61.90. 534,490 shares of the stock traded hands, compared to its average volume of 703,122. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. Terreno Realty has a 52 week low of $50.88 and a 52 week high of $71.63. The firm has a 50 day simple moving average of $66.96 and a two-hundred day simple moving average of $62.53. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 2.84 and a beta of 0.90.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.17). Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%. The business had revenue of $94.25 million for the quarter, compared to the consensus estimate of $89.07 million. As a group, equities research analysts predict that Terreno Realty will post 2.41 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

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

Insiders Place Their Bets

In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of the firm's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.64, for a total transaction of $421,792.80. Following the completion of the transaction, the executive vice president now owns 110,988 shares of the company's stock, valued at approximately $7,618,216.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP John Tull Meyer sold 6,145 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.64, for a total value of $421,792.80. Following the transaction, the executive vice president now directly owns 110,988 shares of the company's stock, valued at approximately $7,618,216.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Michael A. Coke sold 7,500 shares of the business's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.53, for a total value of $513,975.00. Following the completion of the transaction, the president now directly owns 402,164 shares of the company's stock, valued at approximately $27,560,298.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,643 shares of company stock worth $1,277,581. Company insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new position in Terreno Realty during the third quarter valued at $26,000. Whittier Trust Co. lifted its position in Terreno Realty by 123.4% in the first quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust's stock worth $40,000 after buying an additional 337 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Terreno Realty during the second quarter worth $48,000. EntryPoint Capital LLC increased its position in Terreno Realty by 80.3% during the first 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 last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of 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 worth $67,000 after acquiring an additional 987 shares during the last quarter.

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.