Geode Capital Management LLC Purchases 8,940 Shares of Terreno Realty Co. (NYSE:TRNO)

Geode Capital Management LLC increased its stake in shares of Terreno Realty Co. (NYSE:TRNO - Free Report) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,415,004 shares of the real estate investment trust's stock after purchasing an additional 8,940 shares during the period. Geode Capital Management LLC owned 2.42% of Terreno Realty worth $161,423,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Huntington National Bank grew its holdings in shares of Terreno Realty by 7.4% during the 3rd quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust's stock worth $171,000 after purchasing an additional 177 shares during the period. MML Investors Services LLC boosted its holdings in Terreno Realty by 6.1% in the third quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust's stock valued at $291,000 after purchasing an additional 249 shares during the last quarter. Amalgamated Bank raised its holdings in Terreno Realty by 9.9% in the second quarter. Amalgamated Bank now owns 3,154 shares of the real estate investment trust's stock valued at $187,000 after acquiring an additional 284 shares in the last quarter. Handelsbanken Fonder AB increased 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 valued at $1,860,000 after acquiring an additional 300 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of Terreno Realty by 7.0% during the second 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 period.

Terreno Realty Stock Down 0.4 %

NYSE TRNO traded down $0.23 during trading on Monday, hitting $62.03. The stock had a trading volume of 1,841,955 shares, compared to its average volume of 732,550. Terreno Realty Co. has a 12 month low of $53.78 and a 12 month high of $71.63. The company's 50-day moving average price is $61.83 and its two-hundred day moving average price is $63.74. The company has a market capitalization of $6.19 billion, a PE ratio of 34.32, a P/E/G ratio of 2.87 and a beta of 0.89. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.24). Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%. The business had revenue of $99.64 million for the quarter, compared to the consensus estimate of $96.31 million. As a group, sell-side analysts forecast that Terreno Realty Co. will post 2.41 EPS 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 dividend of $0.49 per share. The ex-dividend date is Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 3.16%. Terreno Realty's dividend payout ratio is 107.69%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TRNO. Mizuho reaffirmed an "underperform" rating and issued a $62.00 price objective on shares of Terreno Realty in a research note on Thursday, September 5th. Scotiabank cut their target price on Terreno Realty from $70.00 to $67.00 and set a "sector perform" rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company lowered Terreno Realty from an "overweight" rating to an "equal weight" rating and increased their price target for the company from $71.00 to $75.00 in a research report on Wednesday, August 28th. Wolfe Research upgraded Terreno Realty to a "hold" rating in a report on Sunday, September 22nd. Finally, Barclays dropped their target price on shares of Terreno Realty from $69.00 to $68.00 and set an "overweight" rating on the stock in a research report on Monday, October 28th. Two investment 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 MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $69.22.

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.