81,377 Shares in Terreno Realty Corporation $TRNO Bought by NFJ Investment Group LLC

NFJ Investment Group LLC purchased a new position in Terreno Realty Corporation (NYSE:TRNO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 81,377 shares of the real estate investment trust’s stock, valued at approximately $5,271,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TRNO. Fairtree Asset Management Pty Ltd purchased a new position in shares of Terreno Realty in the second quarter valued at about $1,216,000. Vise Technologies Inc. bought a new position in shares of Terreno Realty in the second quarter worth about $531,000. NewEdge Wealth LLC purchased a new stake in shares of Terreno Realty during the second quarter worth about $272,000. Diversify Advisory Services LLC purchased a new stake in shares of Terreno Realty during the second quarter worth about $1,683,000. Finally, BlackRock Inc. bought a new stake in Terreno Realty during the 2nd quarter valued at approximately $1,213,726,000.

Insider Buying and Selling

In related news, President Michael A. Coke sold 8,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the sale, the president owned 425,381 shares in the company, valued at approximately $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Tull Meyer sold 4,447 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total transaction of $305,242.08. Following the sale, the executive vice president directly owned 131,825 shares in the company, valued at approximately $9,048,468. The trade was a 3.26% decrease in their position. The SEC filing for this sale provides additional information. 1.90% of the stock is currently owned by corporate insiders.

Terreno Realty Price Performance

NYSE:TRNO opened at $68.37 on Friday. 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 company has a market capitalization of $7.45 billion, a P/E ratio of 18.33 and a beta of 1.03. Terreno Realty Corporation has a 12 month low of $54.97 and a 12 month high of $78.94. The business’s 50-day moving average is $68.98 and its 200 day moving average is $66.17.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. The company had revenue of $124.71 million during the quarter, compared to analyst estimates of $127.15 million. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%. On average, equities research analysts forecast that Terreno Realty Corporation will post 2.82 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The company 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 dividend of $0.57 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. Terreno Realty’s dividend payout ratio is currently 55.76%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TRNO shares. Cantor Fitzgerald boosted their price target on Terreno Realty from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday. Wells Fargo & Company cut their price objective on shares of Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. The Goldman Sachs Group lifted their price objective on shares of Terreno Realty from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Terreno Realty in a report on Friday, July 31st. Finally, Barclays upped their target price on shares of Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.86.

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.