Terreno Realty Co. (NYSE:TRNO) Sees Large Decrease in Short Interest

Terreno Realty Co. (NYSE:TRNO - Get Free Report) was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 5,390,000 shares, a decrease of 17.3% from the April 30th total of 6,520,000 shares. Currently, 5.5% of the shares of the company are short sold. Based on an average daily trading volume, of 966,200 shares, the short-interest ratio is currently 5.6 days.

Hedge Funds Weigh In On Terreno Realty

A number of large investors have recently bought and sold shares of the business. Strs Ohio purchased a new stake in shares of Terreno Realty during the first quarter valued at $7,131,000. Geneos Wealth Management Inc. boosted its stake in shares of Terreno Realty by 304.3% during the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 350 shares during the period. Intech Investment Management LLC boosted its position in Terreno Realty by 14.1% in the 1st quarter. Intech Investment Management LLC now owns 46,811 shares of the real estate investment trust's stock valued at $2,959,000 after buying an additional 5,796 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Terreno Realty by 3.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,135 shares of the real estate investment trust's stock valued at $42,366,000 after buying an additional 24,572 shares during the period. Finally, United Services Automobile Association purchased a new stake in Terreno Realty in the 1st quarter valued at about $407,000.

Terreno Realty Trading Up 0.9%

TRNO traded up $0.53 on Thursday, hitting $57.87. The company had a trading volume of 960,648 shares, compared to its average volume of 920,154. The company has a market cap of $5.98 billion, a PE ratio of 30.14, a PEG ratio of 2.82 and a beta of 1.07. Terreno Realty has a 12-month low of $48.18 and a 12-month high of $71.63. 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 business's fifty day simple moving average is $56.83 and its 200 day simple moving average is $61.04.

Terreno Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Friday, June 27th. Terreno Realty's payout ratio is currently 98.49%.

Wall Street Analyst Weigh In

TRNO has been the subject of a number of research reports. Barclays reduced their target price on shares of Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a report on Tuesday, May 27th. Scotiabank reduced their price target on Terreno Realty from $68.00 to $57.00 and set a "sector perform" rating for the company in a research report on Monday, April 7th. JMP Securities reaffirmed a "market outperform" rating and issued a $72.00 price objective on shares of Terreno Realty in a research note on Monday, February 10th. Wall Street Zen raised Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Piper Sandler reduced their target price on shares of Terreno Realty from $61.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $65.00.

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.