Congress Asset Management Co. Buys 19,738 Shares of Terreno Realty Co. (NYSE:TRNO)

Congress Asset Management Co. lifted its holdings in Terreno Realty Co. (NYSE:TRNO - Free Report) by 8.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 261,033 shares of the real estate investment trust's stock after buying an additional 19,738 shares during the quarter. Congress Asset Management Co. owned approximately 0.27% of Terreno Realty worth $17,445,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Terreno Realty by 6.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 105,463 shares of the real estate investment trust's stock worth $7,003,000 after acquiring an additional 6,815 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Terreno Realty by 2.4% during the first quarter. State of Alaska Department of Revenue now owns 39,904 shares of the real estate investment trust's stock worth $2,648,000 after buying an additional 937 shares during the period. Norden Group LLC grew its holdings in Terreno Realty by 1,032.3% in the 1st quarter. Norden Group LLC now owns 57,904 shares of the real estate investment trust's stock worth $3,845,000 after buying an additional 52,790 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in Terreno Realty in the 1st quarter valued at approximately $280,000. Finally, BNP Paribas Financial Markets raised its stake in Terreno Realty by 1.9% during the 1st quarter. BNP Paribas Financial Markets now owns 42,062 shares of the real estate investment trust's stock valued at $2,793,000 after acquiring an additional 780 shares in the last quarter.

Wall Street Analyst Weigh In

TRNO has been the subject of several recent analyst reports. Wedbush reissued a "neutral" rating and issued a $70.00 price target (up previously from $57.00) on shares of Terreno Realty in a research note on Friday, August 16th. Scotiabank reduced their price target on shares of Terreno Realty from $70.00 to $67.00 and set a "sector perform" rating for the company in a research note on Friday, October 25th. Barclays dropped their target price on Terreno Realty from $69.00 to $68.00 and set an "overweight" rating on the stock in a report on Monday. Mizuho reaffirmed an "underperform" rating and set a $62.00 price target on shares of Terreno Realty in a research note on Thursday, September 5th. Finally, StockNews.com downgraded Terreno Realty from a "hold" rating to a "sell" rating in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $69.22.

Terreno Realty Trading Down 0.1 %

Shares of NYSE TRNO traded down $0.05 during mid-day trading on Friday, hitting $59.90. 472,073 shares of the company traded hands, compared to its average volume of 700,812. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. Terreno Realty Co. has a 1 year low of $53.23 and a 1 year high of $71.63. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.83 and a beta of 0.90. The business has a 50 day moving average of $66.16 and a two-hundred day moving average of $62.51.

Terreno Realty (NYSE:TRNO - Get Free Report) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.17). The firm had revenue of $94.25 million during the quarter, compared to analyst estimates of $89.07 million. Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. On average, sell-side analysts anticipate that Terreno Realty Co. will post 2.41 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.27%. This is a boost from Terreno Realty's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, September 30th. Terreno Realty's payout ratio is presently 108.29%.

Insider Buying and Selling at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 7,500 shares of Terreno Realty stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.53, for a total transaction of $513,975.00. Following the transaction, the president now owns 402,164 shares of the company's stock, valued at $27,560,298.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Terreno Realty news, CFO Jaime Jackson Cannon sold 4,998 shares of the company's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following the transaction, the chief financial officer now directly owns 101,927 shares of the company's stock, valued at $6,970,787.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Michael A. Coke sold 7,500 shares of the business's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.53, for a total value of $513,975.00. Following the completion of the sale, the president now directly owns 402,164 shares of the company's stock, valued at approximately $27,560,298.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,643 shares of company stock valued at $1,277,581 in the last three months. 2.40% of the stock is currently owned by company insiders.

Terreno Realty Company 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.