Envestnet Portfolio Solutions Inc. Cuts Stock Position in Terreno Realty Co. (NYSE:TRNO)

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Terreno Realty Co. (NYSE:TRNO) by 12.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,658 shares of the real estate investment trust’s stock after selling 673 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Terreno Realty were worth $275,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TRNO. Stifel Financial Corp boosted its stake in shares of Terreno Realty by 39.3% in the 3rd quarter. Stifel Financial Corp now owns 92,115 shares of the real estate investment trust’s stock valued at $6,156,000 after purchasing an additional 25,988 shares in the last quarter. Barclays PLC boosted its position in Terreno Realty by 131.0% during the third quarter. Barclays PLC now owns 169,980 shares of the real estate investment trust’s stock valued at $11,360,000 after buying an additional 96,380 shares during the period. Geode Capital Management LLC grew its stake in shares of Terreno Realty by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,415,004 shares of the real estate investment trust’s stock valued at $161,423,000 after buying an additional 8,940 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Terreno Realty in the third quarter worth about $225,000. Finally, HighTower Advisors LLC bought a new stake in shares of Terreno Realty in the 3rd quarter valued at about $255,000.

Terreno Realty Trading Down 1.4 %

NYSE TRNO opened at $63.10 on Friday. The firm has a market capitalization of $6.30 billion, a PE ratio of 32.86, a P/E/G ratio of 2.82 and a beta of 0.93. The stock’s 50 day moving average is $66.08 and its 200 day moving average is $63.70. Terreno Realty Co. has a twelve month low of $53.78 and a twelve month 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.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 EPS for the quarter, beating 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%. Research analysts forecast that Terreno Realty Co. will post 2.64 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 27th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, March 27th. Terreno Realty’s dividend payout ratio is 102.08%.

Wall Street Analyst Weigh In

TRNO has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on Terreno Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $60.00 price target on the stock. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and upped their price target for the company from $65.00 to $77.00 in a report on Friday, February 21st. BMO Capital Markets raised their price target on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and issued a $72.00 price objective on shares of Terreno Realty in a research report on Monday, February 10th. Finally, Piper Sandler dropped their target price on shares of Terreno Realty from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Terreno Realty presently has a consensus rating of “Hold” and an average target price of $69.09.

Terreno Realty 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.