Amundi Acquires 4,785 Shares of 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 holdings in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,495 shares of the real estate investment trust's stock after buying an additional 4,785 shares during the period. Amundi owned about 0.05% of Terreno Realty worth $3,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TRNO. Blue Trust Inc. boosted its position in shares of Terreno Realty by 143.6% in the first quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock worth $70,000 after buying an additional 655 shares during the period. GAMMA Investing LLC boosted 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 during the period. GF Fund Management CO. LTD. acquired a new stake in Terreno Realty during the fourth quarter valued at $104,000. Archer Investment Corp acquired a new stake in Terreno Realty during the first quarter valued at $160,000. Finally, Portside Wealth Group LLC acquired a new stake in Terreno Realty during the first quarter valued at $202,000.

Terreno Realty Stock Down 0.4%

Shares of NYSE:TRNO traded down $0.25 on Monday, reaching $58.31. The company had a trading volume of 677,031 shares, compared to its average volume of 904,312. Terreno Realty Corporation has a twelve month low of $48.18 and a twelve month high of $70.10. The stock has a 50-day moving average price of $56.46 and a 200 day moving average price of $58.22. The stock has a market capitalization of $6.02 billion, a P/E ratio of 23.14, a P/E/G ratio of 2.49 and a beta of 1.06. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.20.

Terreno Realty Increases Dividend

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

Analysts Set New Price Targets

TRNO has been the subject of a number of research reports. Wall Street Zen raised Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. 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. Wells Fargo & Company reduced their price objective on Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. KeyCorp reduced their price objective on Terreno Realty from $70.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, August 21st. Finally, Barclays boosted their price target on Terreno Realty from $56.00 to $57.00 and gave the stock an "equal weight" rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Terreno Realty has an average rating of "Hold" and an average price target of $63.00.

Insider Activity at Terreno Realty

In other news, President Michael A. Coke sold 10,000 shares of Terreno Realty stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $53.96, for a total value of $539,600.00. Following the transaction, the president directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company's stock.

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.