Duff & Phelps Investment Management Co. Reduces Position in Terreno Realty Co. (NYSE:TRNO)

Duff & Phelps Investment Management Co. lowered its position in Terreno Realty Co. (NYSE:TRNO - Free Report) by 57.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,825 shares of the real estate investment trust's stock after selling 9,225 shares during the quarter. Duff & Phelps Investment Management Co.'s holdings in Terreno Realty were worth $456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Huntington National Bank lifted its position in Terreno Realty by 7.4% in the third quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust's stock valued at $171,000 after purchasing an additional 177 shares during the last quarter. MML Investors Services LLC boosted its position in Terreno Realty by 6.1% during the 3rd quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust's stock valued at $291,000 after buying an additional 249 shares during the period. Amalgamated Bank grew its holdings in Terreno Realty by 9.9% in the 2nd quarter. Amalgamated Bank now owns 3,154 shares of the real estate investment trust's stock worth $187,000 after acquiring an additional 284 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Terreno Realty by 1.1% in the third 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 period. Finally, Creative Planning raised its stake 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 valued at $284,000 after acquiring an additional 312 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JMP Securities reissued a "market outperform" rating and issued a $72.00 target price on shares of Terreno Realty in a research note on Monday. Barclays reduced their target price 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. StockNews.com lowered Terreno Realty from a "hold" rating to a "sell" rating in a research note on Friday, October 11th. The Goldman Sachs Group boosted their price objective on shares of Terreno Realty from $60.00 to $68.00 and gave the company a "neutral" rating in a research report on Monday, August 12th. Finally, Scotiabank dropped 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, October 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $69.22.

Terreno Realty Stock Down 0.7 %

Shares of NYSE TRNO traded down $0.44 on Tuesday, reaching $62.78. 1,677,272 shares of the company's stock traded hands, compared to its average volume of 721,580. The business's 50 day simple moving average is $61.98 and its two-hundred day simple moving average is $63.59. Terreno Realty Co. has a 12 month low of $53.78 and a 12 month high of $71.63. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 2.73 and a beta of 0.90. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.20.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted 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). Terreno Realty had a net margin of 45.37% and a return on equity of 4.94%. The company had revenue of $99.64 million for the quarter, compared to the consensus estimate of $96.31 million. As a group, equities research analysts forecast that Terreno Realty Co. will post 2.41 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

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 paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Friday, December 13th. Terreno Realty's payout ratio is 107.69%.

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.