Chevy Chase Trust Holdings LLC Decreases Stake in Terreno Realty Co. (NYSE:TRNO)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 16.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 727,284 shares of the real estate investment trust’s stock after selling 143,471 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.73% of Terreno Realty worth $48,604,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TRNO. Janus Henderson Group PLC grew its position in shares of Terreno Realty by 1.8% in the first quarter. Janus Henderson Group PLC now owns 47,635 shares of the real estate investment trust’s stock valued at $3,164,000 after purchasing an additional 826 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Terreno Realty by 107.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 49,548 shares of the real estate investment trust’s stock valued at $3,185,000 after buying an additional 25,683 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Terreno Realty by 292.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 11,712 shares of the real estate investment trust’s stock valued at $693,000 after buying an additional 8,728 shares in the last quarter. CWM LLC increased its stake in shares of Terreno Realty by 58.2% in the 2nd quarter. CWM LLC now owns 1,191 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 438 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Terreno Realty during the 2nd quarter worth $7,815,000.

Wall Street Analyst Weigh In

TRNO has been the subject of several recent analyst reports. Wedbush restated a “neutral” rating and set a $70.00 price objective (up from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. Scotiabank cut their price target on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, October 25th. JMP Securities lifted 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. Wolfe Research upgraded Terreno Realty to a “hold” rating in a research report on Sunday, September 22nd. Finally, Barclays reduced their target price 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 issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.22.

Terreno Realty Price Performance

Shares of NYSE:TRNO opened at $60.48 on Tuesday. Terreno Realty Co. has a 12 month low of $53.78 and a 12 month high of $71.63. The firm has a market capitalization of $6.03 billion, a P/E ratio of 33.23, a P/E/G ratio of 2.79 and a beta of 0.90. 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’s fifty day moving average price is $62.75 and its 200 day moving average price is $63.44.

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 the consensus estimate of $0.61 by ($0.24). Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%. The firm had revenue of $99.64 million for the quarter, compared to analysts’ expectations of $96.31 million. As a group, sell-side analysts predict that Terreno Realty Co. will post 2.41 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 13th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Friday, December 13th. Terreno Realty’s dividend payout ratio is currently 107.69%.

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.