Chevy Chase Trust Holdings LLC Trims Position in Terreno Realty Co. (NYSE:TRNO)

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Terreno Realty Co. (NYSE:TRNO) by 16.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 727,284 shares of the real estate investment trust’s stock after selling 143,471 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Terreno Realty were worth $48,604,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in Terreno Realty by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 47,635 shares of the real estate investment trust’s stock worth $3,164,000 after acquiring an additional 826 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Terreno Realty by 107.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 49,548 shares of the real estate investment trust’s stock worth $3,185,000 after purchasing an additional 25,683 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Terreno Realty by 292.5% during the second quarter. Harbor Capital Advisors Inc. now owns 11,712 shares of the real estate investment trust’s stock worth $693,000 after purchasing an additional 8,728 shares during the period. CWM LLC grew its position in Terreno Realty by 58.2% in the 2nd quarter. CWM LLC now owns 1,191 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 438 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in Terreno Realty in the 2nd quarter valued at $7,815,000.

Terreno Realty Stock Performance

Shares of TRNO stock opened at $60.48 on Tuesday. The stock has a fifty day moving average price of $62.75 and a 200 day moving average price of $63.44. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 2.71. The stock has a market cap of $6.03 billion, a PE ratio of 33.23, a P/E/G ratio of 2.79 and a beta of 0.90. Terreno Realty Co. has a 1 year low of $53.78 and a 1 year high of $71.63.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results 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 return on equity of 4.94% and a net margin of 45.37%. The firm had revenue of $99.64 million for the quarter, compared to analyst estimates of $96.31 million. Sell-side analysts forecast that Terreno Realty Co. will post 2.41 earnings per share for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Friday, December 13th will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 3.24%. Terreno Realty’s dividend payout ratio is presently 107.69%.

Analyst Upgrades and Downgrades

TRNO has been the subject of several recent analyst reports. Wedbush restated a “neutral” rating and issued a $70.00 target price (up previously from $57.00) on shares of Terreno Realty in a research note on Friday, August 16th. JMP Securities raised their price objective on shares of Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 13th. Barclays dropped their target price on Terreno Realty from $69.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. StockNews.com cut Terreno Realty from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company downgraded Terreno Realty from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $71.00 to $75.00 in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $69.22.

About Terreno Realty

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.