Terreno Realty Co. (NYSE:TRNO) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in Terreno Realty Co. (NYSE:TRNO) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 709,207 shares of the real estate investment trust’s stock after selling 5,631 shares during the quarter. Wellington Management Group LLP’s holdings in Terreno Realty were worth $41,943,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Terreno Realty by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock valued at $902,293,000 after acquiring an additional 1,484,301 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Terreno Realty by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock worth $161,423,000 after purchasing an additional 8,940 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Terreno Realty by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,838,503 shares of the real estate investment trust’s stock valued at $108,729,000 after purchasing an additional 110,610 shares during the period. Thrivent Financial for Lutherans grew its holdings in Terreno Realty by 1.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,288,168 shares of the real estate investment trust’s stock valued at $76,183,000 after purchasing an additional 14,995 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Terreno Realty by 2.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,264,657 shares of the real estate investment trust’s stock worth $74,792,000 after buying an additional 35,034 shares during the period.

Analysts Set New Price Targets

A number of research firms have weighed in on TRNO. Barclays decreased their price objective on shares of Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 25th. BMO Capital Markets raised their price objective 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. JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a research report on Monday, February 10th. The Goldman Sachs Group raised shares of Terreno Realty from a “neutral” rating to a “buy” rating and raised their price target for the stock from $65.00 to $77.00 in a research report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Terreno Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price objective for the company. 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $69.09.

Terreno Realty Price Performance

TRNO opened at $55.86 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $65.80 and its 200 day moving average price is $63.35. Terreno Realty Co. has a fifty-two week low of $53.78 and a fifty-two week high of $71.63. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.24. Terreno Realty had a return on equity of 5.20% and a net margin of 48.18%. As a group, sell-side analysts expect that Terreno Realty Co. will post 2.64 earnings per share for the current year.

Terreno Realty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 3.51%. Terreno Realty’s dividend payout ratio is currently 102.08%.

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.