Terreno Realty Co. (NYSE:TRNO - Get Free Report) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 5,930,000 shares, a decrease of 13.8% from the February 13th total of 6,880,000 shares. Currently, 6.1% of the shares of the stock are sold short. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is presently 4.4 days.
Hedge Funds Weigh In On Terreno Realty
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRNO. Mariner LLC grew its holdings in shares of Terreno Realty by 3.7% in the 4th quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust's stock valued at $264,000 after buying an additional 161 shares during the period. MML Investors Services LLC grew its stake 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 acquiring an additional 249 shares during the period. First Trust Advisors LP raised its position in shares of Terreno Realty by 0.9% during the fourth quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust's stock worth $1,810,000 after purchasing an additional 271 shares during the period. Arizona State Retirement System raised its holdings in Terreno Realty by 1.0% during the 4th quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust's stock worth $1,663,000 after buying an additional 276 shares during the period. Finally, Summit Investment Advisors Inc. lifted its stake in Terreno Realty by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,994 shares of the real estate investment trust's stock valued at $591,000 after buying an additional 316 shares in the last quarter.
Wall Street Analysts Forecast Growth
TRNO has been the topic of several recent analyst reports. BMO Capital Markets boosted their price target on Terreno Realty from $71.00 to $73.00 and gave the company a "market perform" rating in a research note on Wednesday, February 12th. Piper Sandler reduced their target price on shares of Terreno Realty from $80.00 to $78.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. JMP Securities reiterated a "market outperform" rating and set a $72.00 target price on shares of Terreno Realty in a research report on Monday, February 10th. Scotiabank lifted their price target on shares of Terreno Realty from $64.00 to $68.00 and gave the company a "sector perform" rating in a report on Friday, February 28th. Finally, Barclays reaffirmed an "equal weight" rating and set a $60.00 price objective (down from $68.00) on shares of Terreno Realty in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $69.36.
Get Our Latest Stock Analysis on Terreno Realty
Terreno Realty Trading Down 4.1 %
TRNO traded down $2.67 during mid-day trading on Friday, reaching $62.56. The stock had a trading volume of 1,946,709 shares, compared to its average volume of 859,334. The firm's fifty day simple moving average is $65.78 and its two-hundred day simple moving average is $63.81. The stock has a market capitalization of $6.24 billion, a P/E ratio of 32.58, a P/E/G ratio of 2.82 and a beta of 0.93. Terreno Realty has a 52 week low of $53.78 and a 52 week high of $71.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.23 and a current ratio of 0.23.
Terreno Realty (NYSE:TRNO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. On average, equities analysts predict that Terreno Realty will post 2.64 EPS for the current year.
Terreno Realty Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Thursday, March 27th. Terreno Realty's dividend payout ratio is presently 102.08%.
Terreno Realty Company Profile
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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.
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