Aberdeen Group plc Has $18.61 Million Stock Holdings in Terreno Realty Corporation $TRNO

Key Points

• Aberdeen Group plc reduced its stake in Terreno Realty Corporation by 20.9% during Q2, holding approximately 331,984 shares worth about $18.61 million after selling 87,655 shares.
• Terreno Realty recently announced a quarterly dividend increase to $0.52 per share, reflecting an annualized dividend of $2.08 and a yield of 3.6%.
• Wall Street analysts have varied price targets for Terreno Realty, with an average target price of $63.70 and ratings ranging from Buy to Hold.

Aberdeen Group plc lessened its position in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 20.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 331,984 shares of the real estate investment trust's stock after selling 87,655 shares during the quarter. Aberdeen Group plc owned approximately 0.32% of Terreno Realty worth $18,614,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRNO. Park Avenue Securities LLC acquired a new stake in Terreno Realty in the 1st quarter valued at approximately $240,000. GAMMA Investing LLC raised its position in Terreno Realty by 840.2% in the 1st quarter. GAMMA Investing LLC now owns 1,241 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 1,109 shares during the last quarter. SG Americas Securities LLC bought a new position in Terreno Realty in the first quarter valued at approximately $948,000. Janney Montgomery Scott LLC grew its stake in Terreno Realty by 10.0% in the first quarter. Janney Montgomery Scott LLC now owns 8,256 shares of the real estate investment trust's stock valued at $522,000 after purchasing an additional 750 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Terreno Realty by 0.7% in the first quarter. State of Alaska Department of Revenue now owns 103,156 shares of the real estate investment trust's stock valued at $6,520,000 after purchasing an additional 735 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TRNO. Barclays raised their price target on Terreno Realty from $56.00 to $57.00 and gave the company an "equal weight" rating in a research note on Monday, September 15th. Piper Sandler raised their price target on Terreno Realty from $58.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, September 18th. Wells Fargo & Company decreased their price target on Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. The Goldman Sachs Group set a $64.00 price target on Terreno Realty and gave the company a "buy" rating in a research note on Tuesday, August 12th. Finally, KeyCorp decreased their price target on Terreno Realty from $70.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday, August 21st. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $63.70.

Insider Transactions at Terreno Realty

In related news, President Michael A. Coke sold 10,000 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the sale, the president directly owned 412,415 shares in the company, valued at $22,253,913.40. The trade was a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

Terreno Realty Stock Up 0.7%

TRNO stock opened at $57.39 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $5.93 billion, a PE ratio of 22.77, a PEG ratio of 2.45 and a beta of 1.04. Terreno Realty Corporation has a 1-year low of $48.18 and a 1-year high of $69.20. The business's 50 day simple moving average is $56.98 and its 200 day simple moving average is $57.01.

Terreno Realty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 29th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, September 29th. This is a boost from Terreno Realty's previous quarterly dividend of $0.49. Terreno Realty's payout ratio is presently 82.54%.

Terreno Realty 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.

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