Granite Investment Partners LLC bought a new stake in Terreno Realty Corporation (NYSE:TRNO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 368,606 shares of the real estate investment trust’s stock, valued at approximately $12,408,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Daiwa Securities Group Inc. boosted its position in shares of Terreno Realty Corporation by 37.0% in the first quarter. Daiwa Securities Group Inc. now owns 3,700 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 1,000 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Terreno Realty Corporation during the first quarter valued at approximately $109,000. New Mexico Educational Retirement Board boosted its position in shares of Terreno Realty Corporation by 11.9% in the first quarter. New Mexico Educational Retirement Board now owns 6,600 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 700 shares in the last quarter. Spirit of America Management Corp NY boosted its position in shares of Terreno Realty Corporation by 17.6% in the second quarter. Spirit of America Management Corp NY now owns 6,675 shares of the real estate investment trust’s stock worth $225,000 after buying an additional 1,000 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Terreno Realty Corporation by 170.9% in the first quarter. Bank of Montreal Can now owns 9,290 shares of the real estate investment trust’s stock worth $261,000 after buying an additional 5,861 shares during the period.

Shares of Terreno Realty Corporation (NYSE TRNO) opened at 34.47 on Thursday. Terreno Realty Corporation has a 12 month low of $24.81 and a 12 month high of $35.59. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 72.57 and a beta of 0.83. The firm has a 50-day moving average of $33.76 and a 200-day moving average of $30.60.

Terreno Realty Corporation (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The firm had revenue of $32.78 million for the quarter, compared to analysts’ expectations of $31.72 million. Terreno Realty Corporation had a net margin of 20.91% and a return on equity of 3.13%. On average, analysts anticipate that Terreno Realty Corporation will post $0.48 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.88 annualized dividend and a yield of 2.55%. This is a boost from Terreno Realty Corporation’s previous quarterly dividend of $0.20.

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A number of brokerages recently issued reports on TRNO. Stifel Nicolaus reissued a “buy” rating and issued a $37.00 price objective (up from $34.50) on shares of Terreno Realty Corporation in a research note on Wednesday. BidaskClub cut shares of Terreno Realty Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reissued a “hold” rating and issued a $35.00 price objective (up from $29.00) on shares of Terreno Realty Corporation in a research note on Friday, June 23rd. National Securities cut shares of Terreno Realty Corporation from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $29.00 to $33.00 in a research note on Thursday, May 11th. Finally, Wunderlich lifted their price objective on shares of Terreno Realty Corporation from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, May 8th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Terreno Realty Corporation has an average rating of “Hold” and a consensus price target of $32.13.

About Terreno Realty Corporation

Terreno Realty Corporation acquires, owns and operates industrial real estate in coastal markets in the United States, such as Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, District of Columbia (DC)/Baltimore. The Company invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development) and trans-shipment.

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Institutional Ownership by Quarter for Terreno Realty Corporation (NYSE:TRNO)

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