Fmr LLC Purchases 1,496,666 Shares of Terreno Realty Co. (NYSE:TRNO)

Fmr LLC grew its position in shares of Terreno Realty Co. (NYSE:TRNO) by 16.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,599,257 shares of the real estate investment trust’s stock after buying an additional 1,496,666 shares during the quarter. Fmr LLC owned approximately 0.11% of Terreno Realty worth $708,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in TRNO. Janus Henderson Group PLC increased its position in Terreno Realty by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 47,635 shares of the real estate investment trust’s stock worth $3,164,000 after buying an additional 826 shares during the period. Tidal Investments LLC increased its position in shares of Terreno Realty by 30.7% in the first quarter. Tidal Investments LLC now owns 34,116 shares of the real estate investment trust’s stock worth $2,265,000 after purchasing an additional 8,013 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Terreno Realty by 107.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 49,548 shares of the real estate investment trust’s stock worth $3,185,000 after purchasing an additional 25,683 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Terreno Realty by 292.5% in the second quarter. Harbor Capital Advisors Inc. now owns 11,712 shares of the real estate investment trust’s stock worth $693,000 after purchasing an additional 8,728 shares during the period. Finally, CWM LLC increased its position in shares of Terreno Realty by 58.2% in the second quarter. CWM LLC now owns 1,191 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 438 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TRNO shares. Wells Fargo & Company cut Terreno Realty from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $71.00 to $75.00 in a research report on Wednesday, August 28th. Wolfe Research upgraded Terreno Realty to a “hold” rating in a research report on Sunday, September 22nd. JMP Securities raised their price target on Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 13th. StockNews.com lowered Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Finally, Barclays reduced their price objective on Terreno Realty from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $69.22.

Terreno Realty Price Performance

Shares of TRNO opened at $61.21 on Friday. Terreno Realty Co. has a 1 year low of $53.78 and a 1 year high of $71.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.71 and a quick ratio of 2.71. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 33.63, a price-to-earnings-growth ratio of 2.81 and a beta of 0.90. The business has a 50-day moving average of $63.08 and a 200-day moving average of $63.28.

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

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 13th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.96 dividend on an annualized basis and a yield of 3.20%. Terreno Realty’s payout ratio is currently 107.69%.

About Terreno Realty

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.