Verition Fund Management LLC Acquires Shares of 3,366 Terreno Realty Co. (NYSE:TRNO)

Verition Fund Management LLC bought a new position in Terreno Realty Co. (NYSE:TRNO) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,366 shares of the real estate investment trust’s stock, valued at approximately $225,000.

A number of other hedge funds also recently made changes to their positions in TRNO. V Square Quantitative Management LLC purchased a new position in Terreno Realty during the 3rd quarter valued at approximately $26,000. Assetmark Inc. grew its holdings in shares of Terreno Realty by 2,381.3% in the third quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 381 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Terreno Realty in the second quarter worth $48,000. International Assets Investment Management LLC raised its stake in Terreno Realty by 6,580.0% during the third quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 987 shares in the last quarter. Finally, CWM LLC lifted its position in Terreno Realty by 58.2% during the second quarter. CWM LLC now owns 1,191 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 438 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TRNO. Wells Fargo & Company downgraded shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $71.00 to $75.00 in a report on Wednesday, August 28th. Mizuho restated an “underperform” rating and set a $62.00 price objective on shares of Terreno Realty in a research report on Thursday, September 5th. JMP Securities reiterated a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a report on Monday, December 9th. Scotiabank decreased their price target on Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a report on Friday, October 25th. Finally, StockNews.com downgraded Terreno Realty from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $69.22.

Terreno Realty Price Performance

TRNO opened at $62.25 on Monday. The business has a fifty day moving average of $61.83 and a 200 day moving average of $63.68. The stock has a market cap of $6.21 billion, a P/E ratio of 34.20, a PEG ratio of 2.87 and a beta of 0.89. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.20. Terreno Realty Co. has a 52-week low of $53.78 and a 52-week high of $71.63.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.24). The business had revenue of $99.64 million for the quarter, compared to the consensus estimate of $96.31 million. Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%. As a group, sell-side analysts anticipate that Terreno Realty Co. will post 2.41 EPS for the current year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 13th will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.96 annualized dividend and a yield of 3.15%. Terreno Realty’s dividend payout ratio (DPR) is 107.69%.

Terreno Realty Company 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.