23,059 Shares in Terreno Realty Corporation $TRNO Purchased by Diversify Advisory Services LLC

Key Points

• Diversify Advisory Services acquired 23,059 shares of Terreno Realty in the second quarter, valued at approximately $1.68 million. Other major institutions, including BlackRock, State Street and Principal Financial Group, also increased or initiated holdings.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus rating of “Moderate Buy” and an average price target of $72.86. Recent target increases included KeyCorp to $75 and Citigroup to $73, although some firms remain neutral or bearish.
• Terreno Realty reported quarterly EPS of $0.54, beating estimates of $0.41, and raised its quarterly dividend from $0.52 to $0.57 per share. The stock recently traded at $68.65, with a 3.3% annualized dividend yield.

Diversify Advisory Services LLC acquired a new position in Terreno Realty Corporation (NYSE:TRNO - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,059 shares of the real estate investment trust's stock, valued at approximately $1,683,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in Terreno Realty during the second quarter worth $1,213,726,000. State Street Corp raised its position in shares of Terreno Realty by 4.0% during the 2nd quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust's stock worth $336,139,000 after purchasing an additional 230,444 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Terreno Realty by 246.6% in the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust's stock valued at $257,257,000 after buying an additional 2,979,982 shares in the last quarter. Norges Bank purchased a new position in Terreno Realty in the 4th quarter valued at about $168,221,000. Finally, Geode Capital Management LLC boosted its holdings in Terreno Realty by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust's stock worth $159,620,000 after buying an additional 17,921 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have commented on TRNO. Raymond James Financial started coverage on Terreno Realty in a report on Wednesday, June 17th. They set an "underperform" rating for the company. KeyCorp boosted their price target on Terreno Realty from $72.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Weiss Ratings reissued a "buy (b)" rating on shares of Terreno Realty in a research note on Friday, July 31st. 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, August 10th. Finally, Barclays lifted 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 note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $72.86.

Terreno Realty Stock Performance

NYSE TRNO opened at $68.65 on Thursday. The stock has a fifty day simple moving average of $68.94 and a 200-day simple moving average of $66.12. 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 stock has a market cap of $7.48 billion, a PE ratio of 18.40 and a beta of 1.03. Terreno Realty Corporation has a twelve month low of $54.97 and a twelve month high of $78.94.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted its 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. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. The company had revenue of $124.71 million for the quarter, compared to analysts' expectations of $127.15 million. Equities analysts anticipate that Terreno Realty Corporation will post 2.82 earnings per share for the current year.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. 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%. Terreno Realty's payout ratio is presently 55.76%.

Insider Transactions at Terreno Realty

In other news, EVP John Tull Meyer sold 4,447 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $9,048,468. This represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael A. Coke sold 8,000 shares of the business's stock in a transaction 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 transaction, the president directly owned 425,381 shares of the company's stock, valued at $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by corporate insiders.

About Terreno Realty

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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