Envestnet Asset Management Inc. Has $18.57 Million Holdings in Terreno Realty Co. (NYSE:TRNO)

Envestnet Asset Management Inc. cut its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 8.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 313,731 shares of the real estate investment trust’s stock after selling 30,599 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Terreno Realty were worth $18,567,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Oppenheimer Asset Management Inc. lifted its holdings in shares of Terreno Realty by 39.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 13,908 shares of the real estate investment trust’s stock worth $823,000 after buying an additional 3,936 shares during the last quarter. Cornercap Investment Counsel Inc. raised its stake in shares of Terreno Realty by 5.1% in the second quarter. Cornercap Investment Counsel Inc. now owns 13,318 shares of the real estate investment trust’s stock valued at $788,000 after purchasing an additional 643 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Terreno Realty by 7.3% in the second quarter. American Century Companies Inc. now owns 2,150,842 shares of the real estate investment trust’s stock valued at $127,287,000 after purchasing an additional 146,808 shares in the last quarter. Bahl & Gaynor Inc. raised its stake in shares of Terreno Realty by 0.8% in the second quarter. Bahl & Gaynor Inc. now owns 368,756 shares of the real estate investment trust’s stock valued at $21,823,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Terreno Realty by 1.8% in the second quarter. Daiwa Securities Group Inc. now owns 37,637 shares of the real estate investment trust’s stock valued at $2,227,000 after purchasing an additional 682 shares in the last quarter.

Insider Activity at Terreno Realty

In related news, EVP John Tull Meyer sold 6,145 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was 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 in the company, valued at $7,618,216.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of the stock in a transaction dated Friday, August 9th. The stock was 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 Securities & Exchange Commission, which is available at this link. Also, CFO Jaime Jackson Cannon sold 4,998 shares of the 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 completion of the transaction, the chief financial officer now directly owns 101,927 shares in the company, valued at approximately $6,970,787.53. The disclosure for this sale can be found here. Insiders have sold a total of 18,643 shares of company stock worth $1,277,581 over the last 90 days. Insiders own 2.40% of the company’s stock.

Terreno Realty Price Performance

Shares of TRNO stock opened at $69.22 on Tuesday. The stock’s fifty day moving average is $68.25 and its 200-day moving average is $62.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a market capitalization of $6.69 billion, a PE ratio of 36.05, a PEG ratio of 3.20 and a beta of 0.90. Terreno Realty Co. has a 52 week low of $50.42 and a 52 week high of $71.63.

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

Terreno Realty Increases Dividend

The company also recently declared 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. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.96 annualized dividend and a yield of 2.83%. Terreno Realty’s dividend payout ratio (DPR) is currently 102.08%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. StockNews.com lowered Terreno Realty from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Scotiabank upped their target price on Terreno Realty from $59.00 to $70.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Wedbush reiterated a “neutral” rating and issued a $70.00 price target (up from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. The Goldman Sachs Group upped their price target on Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, BNP Paribas began coverage on Terreno Realty in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $68.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Terreno Realty currently has a consensus rating of “Hold” and a consensus price target of $69.56.

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.