Short Interest in Terreno Realty Co. (NYSE:TRNO) Decreases By 13.8%

Terreno Realty Co. (NYSE:TRNO) saw a significant decrease in short interest during 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. Approximately 6.1% of the shares of the company are sold short. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is currently 4.4 days.

Terreno Realty Stock Down 1.8 %

NYSE TRNO opened at $65.14 on Friday. The business has a fifty day moving average price of $65.69 and a two-hundred day moving average price of $63.89. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. Terreno Realty has a fifty-two week low of $53.78 and a fifty-two week high of $71.63. The stock has a market capitalization of $6.50 billion, a PE ratio of 33.93, a PEG ratio of 2.82 and a beta of 0.93.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping 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%. Equities analysts expect that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 27th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, March 27th. Terreno Realty’s payout ratio is 102.08%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. FMR LLC raised its position in Terreno Realty by 16.4% during the 3rd quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock worth $708,348,000 after purchasing an additional 1,496,666 shares during the last quarter. Vanguard Group Inc. grew its holdings in Terreno Realty by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock worth $902,293,000 after acquiring an additional 1,484,301 shares during the period. Deutsche Bank AG grew its holdings in Terreno Realty by 287.6% during the 4th quarter. Deutsche Bank AG now owns 1,546,406 shares of the real estate investment trust’s stock worth $91,454,000 after acquiring an additional 1,147,404 shares during the period. Norges Bank acquired a new stake in Terreno Realty during the 4th quarter worth about $58,818,000. Finally, Northern Trust Corp grew its holdings in Terreno Realty by 51.6% during the 4th quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust’s stock worth $109,150,000 after acquiring an additional 628,065 shares during the period.

Wall Street Analyst Weigh In

TRNO has been the topic of several research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research report on Monday, February 10th. Piper Sandler decreased their target price on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. BMO Capital Markets upped their target price on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft initiated coverage on Terreno Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $60.00 target price on the stock. Finally, Scotiabank upped their target price on Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $69.36.

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.