Short Interest in Terreno Realty Co. (NYSE:TRNO) Decreases By 16.1%

Terreno Realty Co. (NYSE:TRNO) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 2,980,000 shares, a drop of 16.1% from the September 30th total of 3,550,000 shares. Based on an average daily volume of 684,900 shares, the short-interest ratio is currently 4.4 days.

Insider Buying and Selling

In other news, EVP John Tull Meyer sold 6,145 shares of Terreno Realty stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.64, for a total transaction of $421,792.80. Following the completion of the transaction, the executive vice president now directly owns 110,988 shares in the company, valued at approximately $7,618,216.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP John Tull Meyer sold 6,145 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.64, for a total value of $421,792.80. Following the transaction, the executive vice president now directly owns 110,988 shares of the company’s stock, valued at $7,618,216.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael A. Coke sold 7,500 shares of Terreno Realty stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.53, for a total transaction of $513,975.00. Following the sale, the president now directly owns 402,164 shares of the company’s stock, valued at $27,560,298.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,643 shares of company stock worth $1,277,581. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of Terreno Realty during the 3rd quarter valued at approximately $26,000. Whittier Trust Co. increased its holdings in shares of Terreno Realty by 123.4% during the first quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 337 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Terreno Realty during the second quarter worth $48,000. EntryPoint Capital LLC boosted its holdings in shares of Terreno Realty by 80.3% during the 1st quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 419 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Terreno Realty by 6,580.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 987 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TRNO shares. Wolfe Research upgraded Terreno Realty to a “hold” rating in a research note on Sunday, September 22nd. The Goldman Sachs Group increased their price objective on Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Barclays reduced their target price on shares of Terreno Realty from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Monday. Scotiabank decreased their price target on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Friday, October 25th. Finally, Wells Fargo & Company cut shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $71.00 to $75.00 in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued 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 Price Performance

Shares of NYSE:TRNO traded up $0.19 during midday trading on Wednesday, hitting $61.36. The stock had a trading volume of 590,461 shares, compared to its average volume of 701,760. The company’s 50-day moving average price is $66.56 and its 200-day moving average price is $62.53. Terreno Realty has a fifty-two week low of $52.42 and a fifty-two week high of $71.63. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $5.93 billion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 2.84 and a beta of 0.90.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.17). The firm had revenue of $94.25 million for the quarter, compared to analyst estimates of $89.07 million. Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%. As a group, equities research analysts predict that Terreno Realty will post 2.41 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.49 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a yield of 3.19%. Terreno Realty’s dividend payout ratio (DPR) is 102.08%.

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.