Hsbc Holdings PLC Reduces Stake in Terreno Realty Co. (NYSE:TRNO)

Hsbc Holdings PLC cut its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 29.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 239,259 shares of the real estate investment trust’s stock after selling 98,525 shares during the period. Hsbc Holdings PLC owned 0.25% of Terreno Realty worth $14,126,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TRNO. Covestor Ltd boosted its stake in shares of Terreno Realty by 7.2% during the 1st quarter. Covestor Ltd now owns 2,950 shares of the real estate investment trust’s stock valued at $196,000 after purchasing an additional 197 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Terreno Realty by 9.9% during the 2nd quarter. Amalgamated Bank now owns 3,154 shares of the real estate investment trust’s stock worth $187,000 after acquiring an additional 284 shares during the period. Caprock Group LLC raised its position in shares of Terreno Realty by 2.1% in the 1st quarter. Caprock Group LLC now owns 14,355 shares of the real estate investment trust’s stock worth $960,000 after acquiring an additional 292 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of Terreno Realty by 123.4% in the 1st quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 337 shares during the period. Finally, American International Group Inc. boosted its position in shares of Terreno Realty by 0.9% during the first quarter. American International Group Inc. now owns 41,600 shares of the real estate investment trust’s stock valued at $2,762,000 after purchasing an additional 368 shares in the last quarter.

Terreno Realty Stock Down 1.6 %

Terreno Realty stock opened at $68.38 on Monday. Terreno Realty Co. has a 12 month low of $50.42 and a 12 month high of $71.63. The stock has a fifty day simple moving average of $68.20 and a two-hundred day simple moving average of $62.34. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 3.20 and a beta of 0.90.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.17). The business had revenue of $94.25 million during 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%. Equities analysts predict that Terreno Realty Co. will post 2.42 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.49 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.96 annualized dividend and a yield of 2.87%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s dividend payout ratio (DPR) is currently 102.08%.

Analyst Upgrades and Downgrades

TRNO has been the subject of a number of research reports. The Goldman Sachs Group increased their price objective on Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. 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 target for the company. JMP Securities upped their price objective on shares of Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 13th. Mizuho reaffirmed an “underperform” rating and set a $62.00 target price on shares of Terreno Realty in a research note on Thursday, September 5th. Finally, StockNews.com cut Terreno Realty from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $69.56.

Insiders Place Their Bets

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

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.