Terreno Realty Co. (NYSE:TRNO) Short Interest Down 16.1% in October

Terreno Realty Co. (NYSE:TRNO) was the target of a large drop in short interest during 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 trading volume, of 684,900 shares, the days-to-cover ratio is currently 4.4 days.

Wall Street Analyst Weigh In

TRNO has been the topic of a number of analyst reports. Wells Fargo & Company lowered shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $71.00 to $75.00 in a research note on Wednesday, August 28th. JMP Securities upped their price target on shares of Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 13th. Wedbush reissued a “neutral” rating and issued a $70.00 price objective (up from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. Wolfe Research raised Terreno Realty to a “hold” rating in a research note on Sunday, September 22nd. Finally, Scotiabank decreased their target price on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $69.22.

Terreno Realty Stock Up 0.3 %

Shares of TRNO traded up $0.19 during trading hours on Wednesday, hitting $61.36. The stock had a trading volume of 590,461 shares, compared to its average volume of 701,760. The firm has a 50 day simple moving average of $66.56 and a 200-day simple moving average of $62.53. Terreno Realty has a 1-year low of $52.42 and a 1-year high of $71.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The firm 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 analysts’ consensus estimates of $0.54 by ($0.17). Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%. The firm had revenue of $94.25 million during the quarter, compared to analyst estimates of $89.07 million. Sell-side analysts predict that Terreno Realty will post 2.41 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.19%. 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. Terreno Realty’s payout ratio is 102.08%.

Insider Buying and Selling

In other Terreno Realty news, CFO Jaime Jackson Cannon sold 4,998 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the transaction, the chief financial officer now directly owns 101,927 shares in the company, valued at approximately $6,970,787.53. This represents 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, CFO Jaime Jackson Cannon sold 4,998 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the sale, the chief financial officer now owns 101,927 shares of the company’s stock, valued at approximately $6,970,787.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Michael A. Coke sold 7,500 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.53, for a total value of $513,975.00. Following the transaction, the president now owns 402,164 shares of the company’s stock, valued at $27,560,298.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,643 shares of company stock worth $1,277,581 in the last ninety days. 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. Covestor Ltd increased its position in shares of Terreno Realty by 7.2% during the first quarter. Covestor Ltd now owns 2,950 shares of the real estate investment trust’s stock worth $196,000 after acquiring an additional 197 shares in the last quarter. Amalgamated Bank boosted its stake 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 valued at $187,000 after purchasing an additional 284 shares during the last quarter. Handelsbanken Fonder AB boosted its stake 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 valued at $1,860,000 after purchasing an additional 300 shares during the last quarter. Creative Planning increased its holdings in Terreno Realty by 7.0% during the 2nd quarter. Creative Planning now owns 4,797 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 312 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in shares of Terreno Realty by 123.4% in the first quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 337 shares during the last quarter.

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.