HighTower Advisors LLC Invests $255,000 in Terreno Realty Co. (NYSE:TRNO)

HighTower Advisors LLC purchased a new stake in Terreno Realty Co. (NYSE:TRNO) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,794 shares of the real estate investment trust’s stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TRNO. Bank of New York Mellon Corp lifted its position in Terreno Realty by 17.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 725,004 shares of the real estate investment trust’s stock valued at $42,906,000 after acquiring an additional 109,301 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Terreno Realty by 28.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 415,260 shares of the real estate investment trust’s stock worth $24,575,000 after purchasing an additional 92,104 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Terreno Realty by 36.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,008 shares of the real estate investment trust’s stock worth $2,427,000 after purchasing an additional 10,874 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Terreno Realty by 5.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,053 shares of the real estate investment trust’s stock worth $1,068,000 after acquiring an additional 952 shares in the last quarter. Finally, Sage Rhino Capital LLC lifted its position in shares of Terreno Realty by 10.1% during the 2nd quarter. Sage Rhino Capital LLC now owns 28,648 shares of the real estate investment trust’s stock worth $1,695,000 after buying an additional 2,633 shares during the last quarter.

Terreno Realty Price Performance

Shares of Terreno Realty stock opened at $59.06 on Wednesday. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 2.87 and a beta of 0.90. Terreno Realty Co. has a 52-week low of $53.78 and a 52-week high of $71.63. The company has a fifty day moving average of $61.37 and a 200-day moving average of $63.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 2.71.

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

Terreno Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 13th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 3.32%. Terreno Realty’s payout ratio is 107.69%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Scotiabank dropped their price objective on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a research note on Friday, October 25th. Barclays lowered their price objective on shares of Terreno Realty from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company lowered shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $71.00 to $75.00 in a research note on Wednesday, August 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a report on Monday, December 9th. Finally, Wolfe Research upgraded shares of Terreno Realty to a “hold” rating in a research note on Sunday, September 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $69.22.

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.