Terreno Realty (NYSE:TRNO) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Terreno Realty (NYSE:TRNO) from a hold rating to a sell rating in a report published on Friday morning.

Several other equities research analysts have also commented on TRNO. Wells Fargo & Company lowered Terreno Realty from an overweight rating to an equal weight rating and upped their price objective for the stock from $71.00 to $75.00 in a research note on Wednesday, August 28th. Wolfe Research raised Terreno Realty to a hold rating in a research report on Sunday, September 22nd. JMP Securities lifted their price objective on Terreno Realty from $65.00 to $72.00 and gave the company a market outperform rating in a research report on Tuesday, August 13th. Scotiabank upped their price target on shares of Terreno Realty from $59.00 to $70.00 and gave the stock a sector perform rating in a research report on Monday, August 26th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $69.56.

Terreno Realty Trading Up 0.5 %

Shares of NYSE TRNO opened at $63.64 on Friday. The firm’s 50 day moving average price is $67.60 and its 200-day moving average price is $62.52. Terreno Realty has a 52-week low of $50.42 and a 52-week high of $71.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market cap of $6.17 billion, a PE ratio of 35.16, a P/E/G ratio of 2.88 and a beta of 0.90.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.17). The company had revenue of $94.25 million during the quarter, compared to analysts’ expectations of $89.07 million. Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. On average, equities research analysts expect that Terreno Realty will post 2.42 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. Investors of record on Monday, September 30th were issued a $0.49 dividend. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, September 30th. This represents a $1.96 dividend on an annualized basis and a yield of 3.08%. Terreno Realty’s dividend payout ratio is presently 108.29%.

Insider Activity at Terreno Realty

In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.64, for a total value of $421,792.80. Following the transaction, the executive vice president now directly owns 110,988 shares in the company, valued at $7,618,216.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, President Michael A. Coke sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.53, for a total value of $513,975.00. Following the completion of the transaction, the president now directly owns 402,164 shares of the company’s stock, valued at $27,560,298.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Tull Meyer sold 6,145 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.64, for a total transaction of $421,792.80. Following the completion of the transaction, the executive vice president now owns 110,988 shares of the company’s stock, valued at approximately $7,618,216.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,643 shares of company stock valued at $1,277,581. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of Terreno Realty

A number of large investors have recently bought and sold shares of the business. Napa Wealth Management purchased a new stake in Terreno Realty in the 4th quarter valued at approximately $286,000. American International Group Inc. increased its position in shares of Terreno Realty by 1.0% in the 4th quarter. American International Group Inc. now owns 41,232 shares of the real estate investment trust’s stock worth $2,584,000 after purchasing an additional 392 shares during the last quarter. Congress Asset Management Co. MA raised its stake in Terreno Realty by 9.5% during the fourth quarter. Congress Asset Management Co. MA now owns 195,317 shares of the real estate investment trust’s stock valued at $12,241,000 after buying an additional 16,999 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Terreno Realty by 8.4% during the 4th quarter. Wellington Management Group LLP now owns 648,438 shares of the real estate investment trust’s stock valued at $40,638,000 after acquiring an additional 50,433 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Terreno Realty by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 12,061,890 shares of the real estate investment trust’s stock valued at $755,919,000 after buying an additional 142,712 shares during the period.

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.