Oppenheimer Asset Management Inc. Reduces Stake in Terreno Realty Co. (NYSE:TRNO)

Oppenheimer Asset Management Inc. trimmed its position in shares of Terreno Realty Co. (NYSE:TRNO) by 19.6% during the third quarter, Holdings Channel reports. The firm owned 11,185 shares of the real estate investment trust’s stock after selling 2,723 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Terreno Realty were worth $747,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Aptus Capital Advisors LLC increased its position in shares of Terreno Realty by 15.6% in the third quarter. Aptus Capital Advisors LLC now owns 61,679 shares of the real estate investment trust’s stock valued at $4,122,000 after buying an additional 8,307 shares in the last quarter. Versor Investments LP acquired a new stake in Terreno Realty in the 3rd quarter valued at about $495,000. Assetmark Inc. increased its holdings in Terreno Realty by 2,381.3% during the 3rd quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 381 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Terreno Realty by 112.3% during the third quarter. Harbor Capital Advisors Inc. now owns 24,869 shares of the real estate investment trust’s stock worth $1,662,000 after acquiring an additional 13,157 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Terreno Realty by 7.2% in the third quarter. US Bancorp DE now owns 30,378 shares of the real estate investment trust’s stock valued at $2,030,000 after purchasing an additional 2,040 shares in the last quarter.

Terreno Realty Price Performance

Shares of NYSE TRNO opened at $60.62 on Tuesday. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 2.79 and a beta of 0.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.71 and a quick ratio of 2.71. Terreno Realty Co. has a 1-year low of $53.78 and a 1-year high of $71.63. The business has a 50-day moving average of $64.55 and a 200-day moving average of $63.02.

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

Terreno Realty Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TRNO shares. Wedbush reissued a “neutral” rating and set a $70.00 price objective (up from $57.00) on shares of Terreno Realty in a research note on Friday, August 16th. StockNews.com downgraded Terreno Realty from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Barclays decreased their price objective on Terreno Realty from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company lowered shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $71.00 to $75.00 in a report on Wednesday, August 28th. Finally, Scotiabank lowered their price target on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $69.22.

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.