Azimuth Capital Investment Management LLC Trims Stake in Terreno Realty Corporation (NYSE:TRNO)

Key Points

• Azimuth Capital Investment Management LLC has reduced its stake in Terreno Realty Corporation by 7.0%, holding 273,141 shares after selling 20,694 shares in the first quarter.
• Terreno Realty has announced an increase in its quarterly dividend from $0.49 to $0.52 per share, with a yield of 3.8% and a dividend payout ratio of 77.78%.
• Wall Street analysts have mixed opinions on Terreno Realty, with price targets ranging from $56.00 to $72.00 and an average rating of "Hold."

Azimuth Capital Investment Management LLC reduced its stake in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 273,141 shares of the real estate investment trust's stock after selling 20,694 shares during the quarter. Azimuth Capital Investment Management LLC owned 0.27% of Terreno Realty worth $17,268,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Quarry LP grew its holdings in Terreno Realty by 613.7% in the fourth quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 626 shares during the period. Blue Trust Inc. grew its holdings in 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 valued at $70,000 after purchasing an additional 655 shares during the period. State of Tennessee Department of Treasury acquired a new stake in shares of Terreno Realty in the fourth quarter worth approximately $71,000. GAMMA Investing LLC boosted its stake 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 acquiring an additional 1,109 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Terreno Realty in the fourth quarter worth approximately $104,000.

Insider Buying and Selling

In related news, President Michael A. Coke sold 10,000 shares of Terreno Realty stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $53.96, for a total transaction of $539,600.00. Following the transaction, the president owned 412,415 shares in the company, valued at approximately $22,253,913.40. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TRNO shares. The Goldman Sachs Group set a $64.00 price target on Terreno Realty and gave the stock a "buy" rating in a research note on Tuesday. Wells Fargo & Company set a $72.00 price target on Terreno Realty in a research note on Sunday, July 13th. Wall Street Zen raised Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Barclays lowered their price target on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $64.60.

Terreno Realty Stock Performance

Shares of Terreno Realty stock opened at $54.14 on Friday. Terreno Realty Corporation has a one year low of $48.18 and a one year high of $71.63. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75. The business's 50 day moving average price is $56.79 and its 200 day moving average price is $59.72.

Terreno Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, September 29th. This is a positive change from Terreno Realty's previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. Terreno Realty's dividend payout ratio (DPR) is 77.78%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.