Terreno Realty Co. (NYSE:TRNO) Short Interest Down 13.8% in February

Terreno Realty Co. (NYSE:TRNO) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 5,930,000 shares, a drop of 13.8% from the February 13th total of 6,880,000 shares. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is presently 4.4 days. Approximately 6.1% of the shares of the company are short sold.

Terreno Realty Stock Performance

TRNO traded up $0.21 during trading on Wednesday, reaching $66.72. 329,624 shares of the company’s stock were exchanged, compared to its average volume of 851,775. Terreno Realty has a fifty-two week low of $53.78 and a fifty-two week 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 has a 50 day moving average price of $65.41 and a 200 day moving average price of $63.87. The company has a market capitalization of $6.66 billion, a P/E ratio of 34.80, a PEG ratio of 2.82 and a beta of 0.93.

Terreno Realty (NYSE:TRNO) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. As a group, analysts predict that Terreno Realty will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.94%. Terreno Realty’s payout ratio is presently 102.08%.

Analyst Upgrades and Downgrades

Several brokerages have commented on TRNO. Piper Sandler lowered their price target on Terreno Realty from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Scotiabank increased their price target on Terreno Realty from $64.00 to $68.00 and gave the company a “sector perform” rating in a report on Friday, February 28th. JMP Securities reiterated a “market outperform” rating and set a $72.00 price target on shares of Terreno Realty in a report on Monday, February 10th. Barclays reiterated an “equal weight” rating and set a $60.00 price target (down previously from $68.00) on shares of Terreno Realty in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $69.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. lifted its holdings in shares of Terreno Realty by 2,381.3% during the third quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 381 shares during the period. Manchester Capital Management LLC bought a new position in shares of Terreno Realty in the fourth quarter valued at about $27,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Terreno Realty by 176.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 566 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 361 shares during the last quarter. Quarry LP raised its holdings in shares of Terreno Realty by 613.7% in the fourth quarter. Quarry LP now owns 728 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 626 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Terreno Realty by 94.6% in the fourth quarter. Quadrant Capital Group LLC now owns 761 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 370 shares during the last quarter.

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.