Short Interest in Terreno Realty Co. (NYSE:TRNO) Declines By 37.2%

Terreno Realty Co. (NYSE:TRNO - Get Free Report) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 1,620,000 shares, a decrease of 37.2% from the March 15th total of 2,580,000 shares. Based on an average trading volume of 700,300 shares, the short-interest ratio is presently 2.3 days.

Terreno Realty Stock Down 1.1 %

NYSE TRNO traded down $0.70 during trading hours on Friday, reaching $60.79. 497,151 shares of the company traded hands, compared to its average volume of 704,201. Terreno Realty has a 12 month low of $50.42 and a 12 month high of $66.63. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $5.87 billion, a PE ratio of 33.59, a PEG ratio of 2.84 and a beta of 0.81. The company has a 50 day moving average of $63.35 and a two-hundred day moving average of $60.01.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.10. Terreno Realty had a net margin of 46.76% and a return on equity of 5.55%. The firm had revenue of $86.48 million for the quarter, compared to the consensus estimate of $84.06 million. As a group, equities analysts expect that Terreno Realty will post 2.41 earnings per share for the current year.

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, March 28th were given a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.96%. Terreno Realty's payout ratio is currently 99.45%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Terreno Realty from $70.00 to $73.00 and gave the stock an "overweight" rating in a research report on Friday, March 22nd. StockNews.com raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a report on Saturday, March 23rd. Scotiabank raised their price target on shares of Terreno Realty from $64.00 to $66.00 and gave the company a "sector perform" rating in a report on Monday, February 12th. The Goldman Sachs Group raised their price target on shares of Terreno Realty from $60.00 to $66.00 and gave the company a "neutral" rating in a report on Thursday, January 11th. Finally, Barclays initiated coverage on shares of Terreno Realty in a report on Wednesday, March 27th. They set an "overweight" rating and a $71.00 price target for the company. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $67.11.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Terreno Realty by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,919,178 shares of the real estate investment trust's stock worth $677,009,000 after buying an additional 168,728 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Terreno Realty by 8.4% in the 3rd quarter. Wellington Management Group LLP now owns 598,005 shares of the real estate investment trust's stock worth $33,967,000 after acquiring an additional 46,475 shares during the period. Townsquare Capital LLC increased its holdings in shares of Terreno Realty by 12.0% in the 3rd quarter. Townsquare Capital LLC now owns 22,073 shares of the real estate investment trust's stock worth $1,254,000 after acquiring an additional 2,364 shares during the period. Wolverine Asset Management LLC increased its holdings in shares of Terreno Realty by 63.9% in the 3rd quarter. Wolverine Asset Management LLC now owns 27,224 shares of the real estate investment trust's stock worth $1,546,000 after acquiring an additional 10,617 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Terreno Realty by 11.1% in the 3rd quarter. Invesco Ltd. now owns 4,113,232 shares of the real estate investment trust's stock worth $233,632,000 after acquiring an additional 411,973 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.

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