Huntington National Bank Grows Stake in Terreno Realty Co. (NYSE:TRNO)

Huntington National Bank lifted its stake in Terreno Realty Co. (NYSE:TRNO) by 7.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,555 shares of the real estate investment trust’s stock after purchasing an additional 177 shares during the quarter. Huntington National Bank’s holdings in Terreno Realty were worth $171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Covestor Ltd boosted its stake in 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 during the last quarter. Amalgamated Bank boosted its position in shares of Terreno Realty by 9.9% during the second quarter. Amalgamated Bank now owns 3,154 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 284 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Terreno Realty by 1.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,830 shares of the real estate investment trust’s stock worth $1,860,000 after buying an additional 300 shares in the last quarter. Creative Planning raised its position in Terreno Realty by 7.0% in the 2nd quarter. Creative Planning now owns 4,797 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 312 shares during the last quarter. Finally, American International Group Inc. lifted its stake in Terreno Realty by 0.9% during the 1st quarter. American International Group Inc. now owns 41,600 shares of the real estate investment trust’s stock valued at $2,762,000 after acquiring an additional 368 shares during the period.

Analysts Set New Price Targets

TRNO has been the subject of a number of research analyst reports. Wells Fargo & Company lowered shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $71.00 to $75.00 in a research note on Wednesday, August 28th. Wedbush reaffirmed a “neutral” rating and issued a $70.00 target price (up previously from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. JMP Securities increased their price target on Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a report on Tuesday, August 13th. Barclays cut their price objective on Terreno Realty from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, Wolfe Research upgraded Terreno Realty to a “hold” rating in a research report on Sunday, September 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Terreno Realty has a consensus rating of “Hold” and an average price target of $69.22.

Terreno Realty Stock Performance

NYSE:TRNO opened at $60.66 on Monday. The stock has a 50-day simple moving average of $64.55 and a two-hundred day simple moving average of $62.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 2.71. Terreno Realty Co. has a 52-week low of $53.78 and a 52-week high of $71.63. The firm has a market capitalization of $6.05 billion, a PE ratio of 33.33, a P/E/G ratio of 2.79 and a beta of 0.90.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). Terreno Realty had a net margin of 45.37% and a return on equity of 4.94%. The company had revenue of $99.64 million for the quarter, compared to the consensus estimate of $96.31 million. Analysts forecast that Terreno Realty Co. will post 2.41 EPS for the current year.

Terreno Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Friday, December 13th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 3.23%. Terreno Realty’s payout ratio is 107.69%.

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.