Terreno Realty Co. (NYSE:TRNO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in Terreno Realty Co. (NYSE:TRNO) by 5.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,229,623 shares of the real estate investment trust’s stock after selling 65,936 shares during the period. JPMorgan Chase & Co.’s holdings in Terreno Realty were worth $82,176,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TRNO. FMR LLC grew its position in Terreno Realty by 16.4% in the 3rd quarter. FMR LLC now owns 10,599,257 shares of the real estate investment trust’s stock valued at $708,348,000 after acquiring an additional 1,496,666 shares in the last quarter. Geode Capital Management LLC increased its stake in Terreno Realty by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock worth $161,423,000 after buying an additional 8,940 shares during the period. American Century Companies Inc. lifted its holdings in Terreno Realty by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 2,150,842 shares of the real estate investment trust’s stock worth $127,287,000 after buying an additional 146,808 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Terreno Realty by 22.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock valued at $115,475,000 after buying an additional 315,506 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Terreno Realty by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,383,262 shares of the real estate investment trust’s stock valued at $81,862,000 after buying an additional 103,833 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TRNO. StockNews.com cut Terreno Realty from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 price target on shares of Terreno Realty in a research report on Monday, December 9th. Wolfe Research raised Terreno Realty to a “hold” rating in a research report on Sunday, September 22nd. Barclays cut their target price on shares of Terreno Realty from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Finally, Scotiabank decreased 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 research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.22.

Terreno Realty Stock Down 2.9 %

TRNO stock opened at $57.40 on Friday. The stock has a market cap of $5.72 billion, a P/E ratio of 31.54, a PEG ratio of 2.87 and a beta of 0.90. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20. Terreno Realty Co. has a twelve month low of $53.78 and a twelve month high of $71.63. The company’s 50 day moving average is $60.54 and its two-hundred day moving average is $63.89.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 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 company had revenue of $99.64 million for the quarter, compared to analyst estimates of $96.31 million. Research analysts expect that Terreno Realty Co. will post 2.41 earnings per share for the current fiscal 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 3.41%. The ex-dividend date of this dividend is Friday, December 13th. Terreno Realty’s payout ratio is currently 107.69%.

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.