Edgestream Partners L.P. Acquires New Shares in Terreno Realty Co. (NYSE:TRNO)

Edgestream Partners L.P. bought a new position in Terreno Realty Co. (NYSE:TRNO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,673 shares of the real estate investment trust’s stock, valued at approximately $646,000.

A number of other hedge funds have also added to or reduced their stakes in TRNO. Verition Fund Management LLC bought a new position in Terreno Realty in the 3rd quarter valued at $225,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Terreno Realty by 339.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 611,128 shares of the real estate investment trust’s stock worth $40,842,000 after buying an additional 472,125 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Terreno Realty by 1.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,670 shares of the real estate investment trust’s stock valued at $2,785,000 after buying an additional 662 shares during the period. Glenmede Trust Co. NA boosted its stake in Terreno Realty by 40.0% during the third quarter. Glenmede Trust Co. NA now owns 13,234 shares of the real estate investment trust’s stock valued at $884,000 after buying an additional 3,782 shares during the period. Finally, Townsquare Capital LLC grew its position in Terreno Realty by 9.8% during the third quarter. Townsquare Capital LLC now owns 35,718 shares of the real estate investment trust’s stock worth $2,387,000 after buying an additional 3,176 shares in the last quarter.

Terreno Realty Stock Performance

NYSE TRNO opened at $59.78 on Friday. The company has a 50-day simple moving average of $62.27 and a two-hundred day simple moving average of $63.40. Terreno Realty Co. has a 12-month low of $53.78 and a 12-month high of $71.63. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 2.79 and a beta of 0.89. 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 (NYSE:TRNO) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share 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, equities analysts forecast that Terreno Realty Co. will post 2.41 EPS 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 issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Friday, December 13th. Terreno Realty’s dividend payout ratio is 107.69%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JMP Securities raised their price target on Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a report on Tuesday, August 13th. StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. The Goldman Sachs Group raised their price objective on shares of Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Wolfe Research upgraded shares of Terreno Realty to a “hold” rating in a research report on Sunday, September 22nd. Finally, Barclays lowered their price target on 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 research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company 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.