Amundi Boosts Stake in Terreno Realty Corporation $TRNO

Key Points

• Amundi increased its stake in Terreno Realty Corporation by 9.3%, acquiring an additional 4,785 shares in the first quarter, bringing its total ownership to approximately $3.27 million.
• Terreno Realty announced a quarterly dividend increase to $0.52 per share, up from $0.49, with an annual yield of 3.5%.
• Recent analyst opinions have led to varied price target adjustments for Terreno Realty, with Wells Fargo reducing its target from $63 to $60, while Goldman Sachs set its target at $64 with a "buy" rating.

Amundi lifted its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 9.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,495 shares of the real estate investment trust's stock after buying an additional 4,785 shares during the quarter. Amundi owned approximately 0.05% of Terreno Realty worth $3,272,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in Terreno Realty by 143.6% in the 1st quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock worth $70,000 after purchasing an additional 655 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Terreno Realty by 840.2% in the first quarter. GAMMA Investing LLC now owns 1,241 shares of the real estate investment trust's stock worth $78,000 after buying an additional 1,109 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Terreno Realty in the fourth quarter worth about $104,000. Archer Investment Corp purchased a new stake in shares of Terreno Realty during the 1st quarter worth approximately $160,000. Finally, Portside Wealth Group LLC purchased a new stake in shares of Terreno Realty during the 1st quarter worth approximately $202,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. KeyCorp decreased their target price on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, August 21st. Barclays upped their target price on shares of Terreno Realty from $56.00 to $57.00 and gave the company an "equal weight" rating in a research report on Monday. The Goldman Sachs Group set a $64.00 price objective on Terreno Realty and gave the company a "buy" rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Three 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, Terreno Realty has an average rating of "Hold" and an average target price of $63.00.

Terreno Realty Stock Down 1.1%

NYSE TRNO traded down $0.62 during trading on Wednesday, reaching $57.98. 806,313 shares of the company's stock traded hands, compared to its average volume of 730,010. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06. The company's 50 day simple moving average is $56.56 and its two-hundred day simple moving average is $58.15. Terreno Realty Corporation has a 12-month low of $48.18 and a 12-month high of $69.82.

Terreno Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be paid a dividend of $0.52 per share. This is a positive change from Terreno Realty's previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 29th. This represents a $2.08 annualized dividend and a yield of 3.6%. Terreno Realty's dividend payout ratio (DPR) is presently 77.78%.

Insiders Place Their Bets

In other news, President Michael A. Coke sold 10,000 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $53.96, for a total transaction of $539,600.00. Following the sale, the president owned 412,415 shares in the company, valued at approximately $22,253,913.40. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is currently owned by company insiders.

About Terreno Realty

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.