Short Interest in Terreno Realty Co. (NYSE:TRNO) Decreases By 13.8%

Terreno Realty Co. (NYSE:TRNO) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 5,930,000 shares, a drop of 13.8% from the February 13th total of 6,880,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is presently 4.4 days. Approximately 6.1% of the company’s stock are sold short.

Analyst Ratings Changes

Several brokerages have recently commented on TRNO. Piper Sandler reduced their target price on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 target price for the company. JMP Securities reiterated a “market outperform” rating and set a $72.00 price target on shares of Terreno Realty in a research note on Monday, February 10th. BMO Capital Markets lifted their price target on Terreno Realty from $71.00 to $73.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group upgraded Terreno Realty from a “neutral” rating to a “buy” rating and lifted their price target for the company from $65.00 to $77.00 in a research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.36.

Terreno Realty Price Performance

Shares of NYSE TRNO opened at $65.14 on Friday. Terreno Realty has a twelve month low of $53.78 and a twelve month high of $71.63. The stock’s 50 day moving average price is $65.69 and its 200-day moving average price is $63.89. The company has a market capitalization of $6.50 billion, a PE ratio of 33.93, a PEG ratio of 2.82 and a beta of 0.93. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. On average, equities analysts anticipate that Terreno Realty will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 annualized dividend and a yield of 3.01%. Terreno Realty’s payout ratio is 102.08%.

Hedge Funds Weigh In On Terreno Realty

Several institutional investors have recently bought and sold shares of the company. Mariner LLC lifted its stake in Terreno Realty by 3.7% in the fourth quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust’s stock valued at $264,000 after purchasing an additional 161 shares during the last quarter. MML Investors Services LLC lifted its stake in Terreno Realty by 6.1% in the third quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 249 shares during the last quarter. First Trust Advisors LP lifted its stake in Terreno Realty by 0.9% in the fourth quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust’s stock valued at $1,810,000 after purchasing an additional 271 shares during the last quarter. Arizona State Retirement System lifted its stake in Terreno Realty by 1.0% in the fourth quarter. Arizona State Retirement System now owns 28,122 shares of the real estate investment trust’s stock valued at $1,663,000 after purchasing an additional 276 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in Terreno Realty by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,994 shares of the real estate investment trust’s stock valued at $591,000 after purchasing an additional 316 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.