Terreno Realty Co. (NYSE:TRNO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Terreno Realty Co. (NYSE:TRNO) by 2.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,941,920 shares of the real estate investment trust’s stock after selling 109,270 shares during the quarter. Principal Financial Group Inc. owned approximately 0.05% of Terreno Realty worth $330,264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TRNO. V Square Quantitative Management LLC bought a new position in Terreno Realty in the 3rd quarter worth 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 valued at $40,000 after purchasing an additional 337 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Terreno Realty during the second quarter valued at $48,000. EntryPoint Capital LLC raised its stake in shares of Terreno Realty by 80.3% during the first quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 419 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Terreno Realty by 6,580.0% in the third quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 987 shares during the period.

Terreno Realty Stock Up 1.1 %

Shares of Terreno Realty stock opened at $60.41 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. Terreno Realty Co. has a 12-month low of $53.23 and a 12-month high of $71.63. The firm has a market capitalization of $5.85 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 2.80 and a beta of 0.90. The stock’s fifty day moving average is $65.44 and its 200-day moving average is $62.64.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.17). Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. The company had revenue of $94.25 million for the quarter, compared to analyst estimates of $89.07 million. Equities analysts anticipate that Terreno Realty Co. will post 2.41 earnings per share 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 issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.24%. Terreno Realty’s dividend payout ratio is currently 108.29%.

Wall Street Analyst Weigh In

TRNO has been the subject of a number of research analyst reports. JMP Securities upped their price target on shares of Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 13th. Wedbush reaffirmed a “neutral” rating and set a $70.00 price target (up from $57.00) on shares of Terreno Realty in a research note on Friday, August 16th. Mizuho reissued an “underperform” rating and issued a $62.00 price objective on shares of Terreno Realty in a research note on Thursday, September 5th. The Goldman Sachs Group raised their target price on Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, Barclays dropped their price target on shares of Terreno Realty from $69.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $69.22.

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.