Terreno Realty Co. (NYSE:TRNO) Holdings Trimmed by Ghisallo Capital Management LLC

Ghisallo Capital Management LLC lowered its holdings in Terreno Realty Co. (NYSE:TRNO) by 50.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,000 shares of the real estate investment trust’s stock after selling 100,000 shares during the period. Ghisallo Capital Management LLC’s holdings in Terreno Realty were worth $5,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TRNO. Thrivent Financial for Lutherans boosted its position in Terreno Realty by 238.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,327,932 shares of the real estate investment trust’s stock worth $78,587,000 after acquiring an additional 935,418 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Terreno Realty by 7.6% during the first quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust’s stock worth $861,988,000 after purchasing an additional 919,851 shares during the period. Principal Financial Group Inc. grew its position in Terreno Realty by 16.4% during the first quarter. Principal Financial Group Inc. now owns 5,155,458 shares of the real estate investment trust’s stock valued at $342,322,000 after purchasing an additional 727,995 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in Terreno Realty by 91,086.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 713,076 shares of the real estate investment trust’s stock valued at $44,688,000 after buying an additional 712,294 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Terreno Realty during the 2nd quarter valued at $39,064,000.

Insider Activity

In related 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 value of $341,813.22. Following the sale, the chief financial officer now owns 101,927 shares of the company’s stock, valued at $6,970,787.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Terreno Realty news, CFO Jaime Jackson Cannon sold 4,998 shares of Terreno Realty 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 completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, President Michael A. Coke sold 7,500 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.53, for a total transaction of $513,975.00. Following the completion of the sale, the president now directly owns 402,164 shares in the company, valued at approximately $27,560,298.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,643 shares of company stock worth $1,277,581. 2.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TRNO shares. The Goldman Sachs Group lifted their price target on Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, August 12th. StockNews.com upgraded Terreno Realty from a “sell” rating to a “hold” rating in a report on Monday. Mizuho reissued an “underperform” rating and set a $62.00 price objective on shares of Terreno Realty in a report on Thursday, September 5th. Wedbush restated a “neutral” rating and issued a $70.00 target price (up from $57.00) on shares of Terreno Realty in a report on Friday, August 16th. Finally, Wells Fargo & Company downgraded Terreno Realty from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $71.00 to $75.00 in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $69.56.

Terreno Realty Stock Performance

NYSE TRNO opened at $65.63 on Wednesday. The company’s fifty day moving average is $68.23 and its two-hundred day moving average is $62.52. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 34.18, a P/E/G ratio of 3.10 and a beta of 0.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. Terreno Realty Co. has a 52-week low of $50.42 and a 52-week high of $71.63.

Terreno Realty (NYSE:TRNO) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. The firm had revenue of $94.25 million for the quarter, compared to analyst estimates of $89.07 million. Equities research analysts forecast that Terreno Realty Co. will post 2.42 EPS for the current year.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s payout ratio is 93.75%.

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.