Envestnet Asset Management Inc. Sells 60,644 Shares of Terreno Realty Corporation $TRNO

Envestnet Asset Management Inc. lowered its stake in Terreno Realty Corporation (NYSE:TRNO) by 18.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 276,514 shares of the real estate investment trust’s stock after selling 60,644 shares during the period. Envestnet Asset Management Inc.’s holdings in Terreno Realty were worth $15,504,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its holdings in shares of Terreno Realty by 304.3% in the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 350 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Terreno Realty by 90.2% during the 1st quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 378 shares during the period. CWM LLC grew its holdings in Terreno Realty by 26.5% in the 2nd quarter. CWM LLC now owns 1,171 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 245 shares during the last quarter. Archer Investment Corp purchased a new position in shares of Terreno Realty in the first quarter valued at about $160,000. Finally, Bayforest Capital Ltd bought a new position in shares of Terreno Realty during the second quarter valued at about $152,000.

Insider Transactions at Terreno Realty

In related news, President Michael A. Coke sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $53.96, for a total transaction of $539,600.00. Following the sale, the president owned 412,415 shares of the company’s stock, valued at $22,253,913.40. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TRNO has been the topic of a number of research analyst reports. KeyCorp reduced their price target on Terreno Realty from $70.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, August 21st. The Goldman Sachs Group lifted their price objective on Terreno Realty from $64.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Terreno Realty in a report on Wednesday, October 8th. Wells Fargo & Company dropped their price target on Terreno Realty from $63.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 27th. Finally, Cantor Fitzgerald initiated coverage on shares of Terreno Realty in a research report on Wednesday, October 1st. They set an “overweight” rating and a $70.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $65.00.

Terreno Realty Stock Up 1.7%

Shares of NYSE:TRNO opened at $58.97 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75. Terreno Realty Corporation has a 52-week low of $48.18 and a 52-week high of $69.20. The firm has a market capitalization of $6.09 billion, a P/E ratio of 23.40, a P/E/G ratio of 2.51 and a beta of 1.07. The stock has a 50 day moving average price of $58.47 and a 200-day moving average price of $57.37.

Terreno Realty (NYSE:TRNO) last issued its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.34. The company had revenue of $116.25 million for the quarter, compared to analysts’ expectations of $114.62 million. Terreno Realty had a return on equity of 6.71% and a net margin of 59.56%. As a group, equities research analysts anticipate that Terreno Realty Corporation will post 2.64 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Monday, December 15th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, December 15th. Terreno Realty’s dividend payout ratio (DPR) is presently 82.54%.

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.