Covestor Ltd Sells 319 Shares of Terreno Realty Co. (NYSE:TRNO)

Covestor Ltd reduced its stake in Terreno Realty Co. (NYSE:TRNO) by 10.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,645 shares of the real estate investment trust’s stock after selling 319 shares during the quarter. Covestor Ltd’s holdings in Terreno Realty were worth $177,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its position in shares of Terreno Realty by 1.9% during the first quarter. BNP Paribas Financial Markets now owns 42,062 shares of the real estate investment trust’s stock worth $2,793,000 after purchasing an additional 780 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Terreno Realty by 12.0% in the first quarter. Janney Montgomery Scott LLC now owns 8,754 shares of the real estate investment trust’s stock valued at $581,000 after buying an additional 937 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Terreno Realty by 71.2% during the first quarter. SG Americas Securities LLC now owns 12,432 shares of the real estate investment trust’s stock valued at $825,000 after buying an additional 5,170 shares during the last quarter. Swiss National Bank increased its position in shares of Terreno Realty by 1.9% during the first quarter. Swiss National Bank now owns 168,500 shares of the real estate investment trust’s stock worth $11,188,000 after acquiring an additional 3,100 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Terreno Realty by 33.3% in the 1st quarter. Sei Investments Co. now owns 379,938 shares of the real estate investment trust’s stock worth $25,228,000 after acquiring an additional 94,813 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays cut their price target on Terreno Realty from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Scotiabank decreased their price target on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, October 25th. JMP Securities raised their price objective on Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 13th. StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Finally, Wedbush restated a “neutral” rating and set a $70.00 price target (up from $57.00) on shares of Terreno Realty in a report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Terreno Realty currently has a consensus rating of “Hold” and an average target price of $69.22.

Terreno Realty Stock Performance

NYSE TRNO opened at $62.00 on Monday. The company has a market capitalization of $6.18 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 2.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.34 and a current ratio of 2.71. Terreno Realty Co. has a 52-week low of $53.23 and a 52-week high of $71.63. The company has a 50-day simple moving average of $65.30 and a 200 day simple moving average of $62.73.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.24). Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%. The company had revenue of $99.64 million for the quarter, compared to analysts’ expectations of $96.31 million. On average, research analysts predict 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.16%. Terreno Realty’s dividend payout ratio is presently 107.69%.

Terreno Realty 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.