Insider Selling: Terreno Realty (NYSE:TRNO) EVP Sells $305,242.08 in Stock

Terreno Realty Corporation (NYSE:TRNO) 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 value of $305,242.08. Following the transaction, the executive vice president owned 131,825 shares of the company’s stock, valued at approximately $9,048,468. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Terreno Realty Stock Up 0.2%

Shares of Terreno Realty stock opened at $68.83 on Friday. The business’s 50 day simple moving average is $68.70 and its 200 day simple moving average is $65.92. Terreno Realty Corporation has a 52-week low of $53.46 and a 52-week high of $78.94. The firm has a market cap of $7.50 billion, a PE ratio of 18.45 and a beta of 1.03. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43.

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

Terreno Realty Increases Dividend

The firm also recently disclosed 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 is a boost from Terreno Realty’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Terreno Realty’s payout ratio is presently 55.76%.

Hedge Funds Weigh In On Terreno Realty

Institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in Terreno Realty in the second quarter valued at $875,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Terreno Realty during the 2nd quarter worth about $1,949,000. Capital Square LLC bought a new stake in shares of Terreno Realty in the 2nd quarter valued at about $1,222,000. Quantbot Technologies LP bought a new stake in shares of Terreno Realty in the 2nd quarter valued at about $53,000. Finally, Westpac Banking Corp acquired a new stake in Terreno Realty in the 2nd quarter valued at about $842,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TRNO shares. KeyCorp lifted their price target on shares of Terreno Realty from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays increased their price objective on shares of Terreno Realty from $60.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Citigroup raised their price objective on Terreno Realty from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Monday. Robert W. Baird set a $69.00 target price on Terreno Realty in a research report on Friday, May 8th. Finally, Raymond James Financial started coverage on Terreno Realty in a report on Wednesday, June 17th. They set an “underperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Terreno Realty presently has an average rating of “Moderate Buy” and an average price target of $72.43.

Terreno Realty Company 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.