Hsbc Holdings PLC Sells 107,513 Shares of Terreno Realty Corporation $TRNO

Key Points

• Hsbc Holdings PLC has reduced its stake in Terreno Realty Corporation by 26.7%, selling 107,513 shares, and now holds approximately 0.29% of the company valued at $18.64 million.
• The company announced an increase in its quarterly dividend to $0.52 per share, up from $0.49, which indicates positive financial growth and reflects a yield of 3.6%.
• Analyst ratings for Terreno Realty are mixed, with three buy ratings, seven hold ratings, and one sell rating, and the average price target now sits at $64.00.

Hsbc Holdings PLC lessened its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 26.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 294,947 shares of the real estate investment trust's stock after selling 107,513 shares during the period. Hsbc Holdings PLC owned about 0.29% of Terreno Realty worth $18,645,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TRNO. Quarry LP lifted its stake in shares of Terreno Realty by 613.7% in the 4th quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock valued at $43,000 after acquiring an additional 626 shares during the last quarter. Blue Trust Inc. raised its position in Terreno Realty by 143.6% during the 1st quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 655 shares during the last quarter. State of Tennessee Department of Treasury bought a new position in Terreno Realty during the 4th quarter valued at approximately $71,000. GAMMA Investing LLC raised its position in Terreno Realty by 840.2% during the 1st quarter. GAMMA Investing LLC now owns 1,241 shares of the real estate investment trust's stock valued at $78,000 after purchasing an additional 1,109 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in Terreno Realty during the 4th quarter valued at approximately $104,000.

Terreno Realty Stock Down 0.8%

Shares of TRNO stock traded down $0.46 during midday trading on Thursday, reaching $57.37. 255,871 shares of the stock were exchanged, compared to its average volume of 916,441. Terreno Realty Corporation has a 1 year low of $48.18 and a 1 year high of $70.10. The company's 50 day moving average is $56.28 and its two-hundred day moving average is $59.10. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. The firm has a market cap of $5.93 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 2.43 and a beta of 1.02.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, September 29th. This is an increase from Terreno Realty's previous quarterly dividend of $0.49. Terreno Realty's dividend payout ratio (DPR) is currently 82.54%.

Wall Street Analysts Forecast Growth

TRNO has been the subject of a number of recent analyst reports. Wall Street Zen raised Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Barclays lowered their price target on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 27th. The Goldman Sachs Group set a $64.00 price target on Terreno Realty and gave the company a "buy" rating in a research report on Tuesday, August 12th. Wells Fargo & Company lowered their price target on Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, KeyCorp lowered their price target on Terreno Realty from $70.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, August 21st. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $62.80.

Insider Buying and Selling at Terreno Realty

In related news, President Michael A. Coke sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $53.96, for a total value of $539,600.00. Following the sale, the president owned 412,415 shares in the company, valued at $22,253,913.40. This represents a 2.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.40% of the stock is owned by insiders.

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.