Terreno Realty Co. (NYSE:TRNO) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC trimmed its position in shares of Terreno Realty Co. (NYSE:TRNO - Free Report) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 254,661 shares of the real estate investment trust's stock after selling 5,947 shares during the period. Granite Investment Partners LLC owned about 0.26% of Terreno Realty worth $15,061,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TRNO. Verition Fund Management LLC acquired a new stake in shares of Terreno Realty in the 3rd quarter valued at $225,000. HighTower Advisors LLC acquired a new stake in Terreno Realty in the third quarter valued at $255,000. Stifel Financial Corp lifted its holdings in Terreno Realty by 39.3% during the 3rd quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust's stock worth $6,156,000 after buying an additional 25,988 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Terreno Realty by 10.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 9,389 shares of the real estate investment trust's stock worth $627,000 after acquiring an additional 903 shares in the last quarter. Finally, MML Investors Services LLC raised its position in shares of Terreno Realty by 6.1% during the 3rd quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust's stock worth $291,000 after acquiring an additional 249 shares in the last quarter.

Terreno Realty Stock Performance

Shares of NYSE:TRNO traded up $0.92 during trading on Friday, reaching $57.65. The company had a trading volume of 1,072,632 shares, compared to its average volume of 900,333. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. The stock's fifty day moving average price is $63.27 and its 200 day moving average price is $62.39. Terreno Realty Co. has a fifty-two week low of $48.18 and a fifty-two week high of $71.63. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.82 and a beta of 1.00.

Terreno Realty (NYSE:TRNO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. As a group, equities research analysts predict that Terreno Realty Co. will post 2.64 EPS for the current year.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 27th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Thursday, March 27th. Terreno Realty's payout ratio is 102.08%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TRNO shares. JMP Securities reaffirmed a "market outperform" rating and issued a $72.00 price target on shares of Terreno Realty in a report on Monday, February 10th. Barclays lowered their target price on shares of Terreno Realty from $60.00 to $57.00 and set an "equal weight" rating for the company in a report on Tuesday, March 25th. The Goldman Sachs Group upgraded shares of Terreno Realty from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $65.00 to $77.00 in a research note on Friday, February 21st. Scotiabank dropped their price objective on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating on the stock in a report on Monday, April 7th. Finally, BMO Capital Markets lifted their target price on Terreno Realty from $71.00 to $73.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $66.45.

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.