Bahl & Gaynor Inc. Purchases 8,077 Shares of Terreno Realty Corporation $TRNO

Key Points

• Bahl & Gaynor Inc. increased its stake in Terreno Realty Corporation by 1.9% during the 1st quarter, acquiring an additional 8,077 shares, bringing its total ownership to approximately 438,897 shares valued at $27,747,000.
• Terreno Realty recently announced a quarterly dividend of $0.52 per share, an increase from its previous dividend of $0.49, representing an annualized dividend yield of 3.6%.
• Wall Street analysts have mixed ratings on Terreno Realty, with three analysts rating it as a Buy, seven as a Hold, and one as a Sell, while the average price target is set at $64.00.

Bahl & Gaynor Inc. boosted its position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 438,897 shares of the real estate investment trust's stock after acquiring an additional 8,077 shares during the period. Bahl & Gaynor Inc. owned 0.43% of Terreno Realty worth $27,747,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of TRNO. Nuveen LLC purchased a new position in Terreno Realty during the first quarter valued at approximately $83,095,000. Deutsche Bank AG grew its stake in Terreno Realty by 287.6% during the fourth quarter. Deutsche Bank AG now owns 1,546,406 shares of the real estate investment trust's stock valued at $91,454,000 after acquiring an additional 1,147,404 shares in the last quarter. Northern Trust Corp grew its stake in Terreno Realty by 51.6% during the fourth quarter. Northern Trust Corp now owns 1,845,621 shares of the real estate investment trust's stock valued at $109,150,000 after acquiring an additional 628,065 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Terreno Realty by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust's stock valued at $262,918,000 after acquiring an additional 523,950 shares in the last quarter. Finally, Deprince Race & Zollo Inc. purchased a new position in Terreno Realty during the fourth quarter valued at approximately $25,805,000.

Analyst Upgrades and Downgrades

TRNO has been the subject of several recent analyst reports. Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Wells Fargo & Company cut their price target on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday. KeyCorp cut their price target on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday, August 21st. The Goldman Sachs Group set a $64.00 price target on shares of Terreno Realty and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Finally, Barclays cut their price target on shares of Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 27th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $62.80.

Terreno Realty Trading Up 1.2%

Shares of TRNO traded up $0.68 during mid-day trading on Wednesday, reaching $57.87. The company's stock had a trading volume of 1,248,242 shares, compared to its average volume of 920,585. The stock has a market cap of $5.98 billion, a PE ratio of 22.96, a P/E/G ratio of 2.46 and a beta of 1.02. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. Terreno Realty Corporation has a 52 week low of $48.18 and a 52 week high of $70.10. The company's fifty day moving average price is $56.29 and its two-hundred day moving average price is $59.10.

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 issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, September 29th. This is a positive change from Terreno Realty's previous quarterly dividend of $0.49. Terreno Realty's dividend payout ratio (DPR) is presently 77.78%.

Insider Buying and Selling at Terreno Realty

In other news, President Michael A. Coke sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were 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 approximately $22,253,913.40. The trade was a 2.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company's stock.

Terreno Realty Company 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.