Landscape Capital Management L.L.C. acquired a new stake in Terreno Realty Corporation (NYSE:TRNO – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,513 shares of the real estate investment trust’s stock, valued at approximately $810,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in shares of Terreno Realty by 21.8% in the first quarter. Bank of America Corp DE now owns 912,214 shares of the real estate investment trust’s stock valued at $56,028,000 after purchasing an additional 163,347 shares during the period. Principal Financial Group Inc. grew its position in Terreno Realty by 7.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,208,471 shares of the real estate investment trust’s stock worth $70,950,000 after buying an additional 81,444 shares during the period. Sage Rhino Capital LLC grew its position in Terreno Realty by 36.6% during the fourth quarter. Sage Rhino Capital LLC now owns 40,190 shares of the real estate investment trust’s stock worth $2,360,000 after buying an additional 10,777 shares during the period. Strs Ohio increased its holdings in Terreno Realty by 27.0% in the fourth quarter. Strs Ohio now owns 363,700 shares of the real estate investment trust’s stock valued at $21,353,000 after buying an additional 77,400 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Terreno Realty by 4.2% during the 1st quarter. Bessemer Group Inc. now owns 680,641 shares of the real estate investment trust’s stock valued at $41,805,000 after acquiring an additional 27,624 shares during the period.
Terreno Realty Stock Up 0.1%
Shares of NYSE:TRNO opened at $68.21 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 18.29 and a beta of 1.03. The stock’s 50-day moving average price is $69.00 and its two-hundred day moving average price is $66.22. Terreno Realty Corporation has a 12-month low of $55.70 and a 12-month high of $78.94.
Terreno Realty Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 30th. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s payout ratio is presently 55.76%.
Insider Transactions at Terreno Realty
In other news, President Michael A. Coke sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $68.38, for a total value of $547,040.00. Following the completion of the sale, the president directly owned 425,381 shares in the company, valued at approximately $29,087,552.78. The trade was a 1.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Tull Meyer sold 4,447 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total transaction of $305,242.08. Following the sale, the executive vice president owned 131,825 shares in the company, valued at approximately $9,048,468. This trade represents a 3.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.90% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on TRNO. The Goldman Sachs Group lifted their price objective on Terreno Realty from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Terreno Realty in a report on Friday, July 31st. Mizuho raised their price target on Terreno Realty from $56.00 to $60.00 and gave the company an “underperform” rating in a research report on Wednesday. Wells Fargo & Company cut their price target on Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. Finally, Citigroup boosted their price objective on shares of Terreno Realty from $70.00 to $73.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Terreno Realty presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.86.
Read Our Latest Stock Analysis on Terreno Realty
Terreno Realty Profile
Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.
Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.
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