Franklin Resources Inc. Raises Holdings in Terreno Realty Co. (NYSE:TRNO)

Franklin Resources Inc. boosted its stake in Terreno Realty Co. (NYSE:TRNO) by 0.2% during the third quarter, Holdings Channel.com reports. The firm owned 610,055 shares of the real estate investment trust’s stock after buying an additional 1,348 shares during the period. Franklin Resources Inc.’s holdings in Terreno Realty were worth $38,824,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new position in shares of Terreno Realty in the third quarter worth $26,000. Assetmark Inc. grew its holdings in Terreno Realty by 2,381.3% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 381 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Terreno Realty in the second quarter valued at about $48,000. International Assets Investment Management LLC raised its stake in shares of Terreno Realty by 6,580.0% during the third quarter. International Assets Investment Management LLC now owns 1,002 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 987 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Terreno Realty by 58.2% during the second quarter. CWM LLC now owns 1,191 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 438 shares during the period.

Terreno Realty Trading Down 0.1 %

Shares of NYSE TRNO opened at $61.98 on Wednesday. Terreno Realty Co. has a 1 year low of $53.78 and a 1 year high of $71.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.71 and a quick ratio of 2.71. The firm has a 50-day moving average of $61.72 and a 200 day moving average of $63.81. The stock has a market cap of $6.18 billion, a P/E ratio of 34.05, a price-to-earnings-growth ratio of 2.87 and a beta of 0.89.

Terreno Realty (NYSE:TRNO) last released its 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 net margin of 45.37% and a return on equity of 4.94%. The business had revenue of $99.64 million for the quarter, compared to analysts’ expectations of $96.31 million. As a group, sell-side analysts expect that Terreno Realty Co. will post 2.41 EPS for the current fiscal year.

Terreno Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Friday, December 13th will be paid 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 dividend yield of 3.16%. Terreno Realty’s dividend payout ratio is currently 107.69%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TRNO. JMP Securities restated a “market outperform” rating and set a $72.00 price target on shares of Terreno Realty in a report on Monday, December 9th. Wolfe Research raised Terreno Realty to a “hold” rating in a research note on Sunday, September 22nd. Wells Fargo & Company lowered Terreno Realty from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $71.00 to $75.00 in a research note on Wednesday, August 28th. Scotiabank decreased their price objective 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. Finally, Mizuho reaffirmed an “underperform” rating and set a $62.00 target price on shares of Terreno Realty in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.