Terreno Realty Co. (NYSE:TRNO) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. cut its position in Terreno Realty Co. (NYSE:TRNO) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,663 shares of the real estate investment trust’s stock after selling 7,693 shares during the quarter. Phocas Financial Corp. owned approximately 0.13% of Terreno Realty worth $8,198,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank grew its position in shares of Terreno Realty by 7.4% during the third quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust’s stock worth $171,000 after acquiring an additional 177 shares during the last quarter. Amalgamated Bank grew its position in Terreno Realty by 9.9% during the 2nd quarter. Amalgamated Bank now owns 3,154 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 284 shares during the last quarter. Handelsbanken Fonder AB grew its position in Terreno Realty by 1.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 27,830 shares of the real estate investment trust’s stock worth $1,860,000 after purchasing an additional 300 shares during the last quarter. Creative Planning raised its holdings in shares of Terreno Realty by 7.0% in the second quarter. Creative Planning now owns 4,797 shares of the real estate investment trust’s stock valued at $284,000 after buying an additional 312 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of Terreno Realty by 0.9% during the first quarter. American International Group Inc. now owns 41,600 shares of the real estate investment trust’s stock worth $2,762,000 after buying an additional 368 shares during the period.

Terreno Realty Price Performance

TRNO opened at $60.62 on Tuesday. The company has a 50 day moving average of $64.55 and a two-hundred day moving average of $63.02. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.20. Terreno Realty Co. has a 52-week low of $53.78 and a 52-week high of $71.63. The company has a market cap of $6.05 billion, a P/E ratio of 33.31, a P/E/G ratio of 2.79 and a beta of 0.90.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.24). The company had revenue of $99.64 million for the quarter, compared to analysts’ expectations of $96.31 million. Terreno Realty had a net margin of 45.37% and a return on equity of 4.94%. On average, analysts expect that Terreno Realty Co. will post 2.41 earnings per share for the current year.

Terreno Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Friday, December 13th will be paid a $0.49 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 3.23%. Terreno Realty’s dividend payout ratio (DPR) is presently 107.69%.

Analyst Ratings Changes

Several analysts have commented on the company. StockNews.com downgraded Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Barclays lowered their price objective 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. Scotiabank decreased their price target on 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. Mizuho reissued an “underperform” rating and issued a $62.00 target price on shares of Terreno Realty in a report on Thursday, September 5th. Finally, Wolfe Research upgraded shares of Terreno Realty to a “hold” rating in a research note on Sunday, September 22nd. 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $69.22.

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.