Legacy Wealth Asset Management LLC Trims Stock Position in Terreno Realty Co. (NYSE:TRNO)

Legacy Wealth Asset Management LLC trimmed its stake in Terreno Realty Co. (NYSE:TRNO) by 2.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,422 shares of the real estate investment trust’s stock after selling 479 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Terreno Realty were worth $1,089,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Huntington National Bank boosted its stake in Terreno Realty by 7.4% during the 3rd quarter. Huntington National Bank now owns 2,555 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 177 shares during the period. MML Investors Services LLC lifted its position in Terreno Realty by 6.1% during the 3rd quarter. MML Investors Services LLC now owns 4,358 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 249 shares during the period. Amalgamated Bank grew its stake in shares of Terreno Realty by 9.9% in the 2nd quarter. Amalgamated Bank now owns 3,154 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 284 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Terreno Realty by 1.1% in the third quarter. Handelsbanken Fonder AB now owns 27,830 shares of the real estate investment trust’s stock valued at $1,860,000 after purchasing an additional 300 shares during the period. Finally, Creative Planning increased its holdings in shares of Terreno Realty by 7.0% in the second quarter. Creative Planning now owns 4,797 shares of the real estate investment trust’s stock valued at $284,000 after purchasing an additional 312 shares during the period.

Terreno Realty Stock Performance

TRNO opened at $61.34 on Friday. Terreno Realty Co. has a 1-year low of $53.78 and a 1-year high of $71.63. The stock has a market cap of $6.12 billion, a P/E ratio of 33.70, a P/E/G ratio of 2.41 and a beta of 0.90. The stock’s 50 day simple moving average is $60.21 and its 200 day simple moving average is $63.93. 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 (NYSE:TRNO) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share 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. As a group, equities analysts anticipate that Terreno Realty Co. will post 2.42 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Friday, December 13th were issued a dividend of $0.49 per share. The ex-dividend date was Friday, December 13th. This represents a $1.96 annualized dividend and a yield of 3.20%. Terreno Realty’s dividend payout ratio (DPR) is currently 107.69%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TRNO shares. JMP Securities reaffirmed a “market outperform” rating and set a $72.00 price target on shares of Terreno Realty in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Terreno Realty in a report on Tuesday. They issued a “hold” rating and a $60.00 target price on the stock. Scotiabank dropped their price target on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Friday, October 25th. Barclays reaffirmed an “equal weight” rating and issued a $60.00 price objective (down previously from $68.00) on shares of Terreno Realty in a report on Monday. Finally, StockNews.com lowered Terreno Realty from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $67.50.

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.