Granite Investment Partners LLC Has $16.68 Million Stake in Terreno Realty Co. (NYSE:TRNO)

Granite Investment Partners LLC decreased its position in shares of Terreno Realty Co. (NYSE:TRNO) by 11.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 281,879 shares of the real estate investment trust’s stock after selling 37,640 shares during the period. Granite Investment Partners LLC owned 0.29% of Terreno Realty worth $16,682,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mather Group LLC. acquired a new position in Terreno Realty during the 1st quarter worth $31,000. Whittier Trust Co. lifted its position in Terreno Realty by 123.4% during the 1st quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 337 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Terreno Realty during the 2nd quarter worth $48,000. EntryPoint Capital LLC raised its position in shares of Terreno Realty by 80.3% during the first quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 419 shares during the last quarter. Finally, CWM LLC raised its position in shares of 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 buying an additional 438 shares during the last quarter.

Terreno Realty Stock Performance

NYSE:TRNO opened at $69.48 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $6.73 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 3.20 and a beta of 0.90. Terreno Realty Co. has a 12-month low of $50.42 and a 12-month high of $71.63. The firm has a 50-day moving average price of $68.13 and a 200 day moving average price of $62.34.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.17). The firm had revenue of $94.25 million for the quarter, compared to the consensus estimate of $89.07 million. Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. Research analysts anticipate that Terreno Realty Co. will post 2.42 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.82%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, September 30th. Terreno Realty’s dividend payout ratio is currently 93.75%.

Analyst Upgrades and Downgrades

TRNO has been the subject of a number of research analyst reports. BNP Paribas initiated coverage on shares of Terreno Realty in a research report on Tuesday, June 4th. They set an “outperform” rating and a $68.00 price objective for the company. Mizuho reaffirmed an “underperform” rating and set a $62.00 price objective on shares of Terreno Realty in a research report on Thursday, September 5th. Scotiabank upped their price objective on shares of Terreno Realty from $59.00 to $70.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Wells Fargo & Company lowered shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $71.00 to $75.00 in a research report on Wednesday, August 28th. Finally, StockNews.com lowered shares of Terreno Realty from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Terreno Realty presently has a consensus rating of “Hold” and an average price target of $69.56.

Insiders Place Their Bets

In other Terreno Realty news, CFO Jaime Jackson Cannon sold 4,998 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.39, for a total transaction of $341,813.22. Following the sale, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at $6,970,787.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Jaime Jackson Cannon sold 4,998 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the sale, the chief financial officer now owns 101,927 shares of the company’s stock, valued at $6,970,787.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Tull Meyer sold 6,145 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.64, for a total transaction of $421,792.80. Following the completion of the sale, the executive vice president now directly owns 110,988 shares of the company’s stock, valued at approximately $7,618,216.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,643 shares of company stock valued at $1,277,581. 2.40% of the stock is currently owned by insiders.

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.