Davis Selected Advisers Acquires 3,370 Shares of Terreno Realty Corporation $TRNO

Davis Selected Advisers grew its stake in shares of Terreno Realty Corporation (NYSE:TRNO) by 3.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 104,197 shares of the real estate investment trust’s stock after purchasing an additional 3,370 shares during the period. Davis Selected Advisers’ holdings in Terreno Realty were worth $5,842,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of TRNO. Norinchukin Bank The boosted its position in shares of Terreno Realty by 4.5% during the first quarter. Norinchukin Bank The now owns 4,606 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 197 shares during the last quarter. Alliance Wealth Advisors LLC UT lifted its stake in Terreno Realty by 2.2% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 9,297 shares of the real estate investment trust’s stock valued at $588,000 after acquiring an additional 200 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Terreno Realty by 3.2% during the 2nd quarter. Fifth Third Bancorp now owns 6,423 shares of the real estate investment trust’s stock worth $360,000 after acquiring an additional 202 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Terreno Realty by 3.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,079 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 208 shares during the last quarter. Finally, Profund Advisors LLC grew its stake in shares of Terreno Realty by 4.6% in the 2nd quarter. Profund Advisors LLC now owns 4,735 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 209 shares in the last quarter.

Terreno Realty Stock Performance

Shares of TRNO opened at $61.14 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.20. Terreno Realty Corporation has a 52 week low of $48.18 and a 52 week high of $69.20. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.51 and a beta of 1.07. The business has a 50-day simple moving average of $58.87 and a two-hundred day simple moving average of $57.53.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.34. The firm had revenue of $116.25 million for the quarter, compared to analysts’ expectations of $114.62 million. Terreno Realty had a net margin of 59.56% and a return on equity of 6.71%. On average, analysts expect that Terreno Realty Corporation will post 2.64 EPS for the current year.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Monday, December 15th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. Terreno Realty’s dividend payout ratio is currently 66.03%.

Insiders Place Their Bets

In other Terreno Realty news, EVP John Tull Meyer sold 4,758 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $59.95, for a total value of $285,242.10. Following the completion of the sale, the executive vice president owned 119,949 shares of the company’s stock, valued at $7,190,942.55. This trade represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

TRNO has been the topic of a number of recent analyst reports. Barclays lifted their target price on Terreno Realty from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, September 15th. Citigroup lifted their target price on shares of Terreno Realty from $58.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday. KeyCorp dropped their target price on Terreno Realty from $70.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Terreno Realty in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald started coverage on Terreno Realty in a research report on Wednesday, October 1st. They set an “overweight” rating and a $70.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.00.

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.