Terreno Realty Corporation $TRNO Holdings Lifted by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Terreno Realty Corporation (NYSE:TRNO) by 3.6% during the second quarter, Holdings Channel.com reports. The fund owned 2,631,838 shares of the real estate investment trust’s stock after acquiring an additional 92,519 shares during the quarter. Geode Capital Management LLC’s holdings in Terreno Realty were worth $147,584,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geneos Wealth Management Inc. boosted its position in shares of Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 350 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Terreno Realty by 90.2% during the first quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 378 shares during the last quarter. CWM LLC lifted its stake in Terreno Realty by 26.5% during the second quarter. CWM LLC now owns 1,171 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 245 shares during the last quarter. Bayforest Capital Ltd bought a new stake in Terreno Realty during the second quarter worth approximately $152,000. Finally, Mechanics Bank Trust Department acquired a new position in Terreno Realty in the second quarter worth approximately $208,000.

Terreno Realty Stock Up 0.3%

Shares of Terreno Realty stock opened at $60.25 on Wednesday. Terreno Realty Corporation has a 1 year low of $48.18 and a 1 year high of $69.20. The company has a market cap of $6.23 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.51 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $58.98 and a 200 day moving average price of $57.62.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. The company had revenue of $116.25 million for the quarter, compared to the consensus estimate of $114.62 million. Terreno Realty had a return on equity of 6.71% and a net margin of 59.56%. As a group, analysts expect that Terreno Realty Corporation will post 2.64 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, December 15th will be given a $0.52 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.08 dividend on an annualized basis and a yield of 3.5%. Terreno Realty’s dividend payout ratio is presently 66.03%.

Insider Activity

In other Terreno Realty news, EVP John Tull Meyer sold 4,758 shares of Terreno Realty stock in a transaction on Friday, November 7th. The shares were sold at an average price of $59.95, for a total transaction of $285,242.10. Following the completion of the sale, the executive vice president owned 119,949 shares of the company’s stock, valued at $7,190,942.55. This trade represents a 3.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TRNO has been the subject of a number of recent research reports. KeyCorp cut their price objective on Terreno Realty from $70.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, August 21st. The Goldman Sachs Group upped their target price on Terreno Realty from $64.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Terreno Realty in a research report on Wednesday, October 8th. UBS Group set a $71.00 price objective on Terreno Realty in a report on Tuesday, October 21st. Finally, Cantor Fitzgerald initiated coverage on shares of Terreno Realty in a report on Wednesday, October 1st. They issued an “overweight” rating and a $70.00 target price for the company. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

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.