Bahl & Gaynor Inc. Boosts Holdings in 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. increased its holdings in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 1.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 438,897 shares of the real estate investment trust's stock after buying an additional 8,077 shares during the quarter. Bahl & Gaynor Inc. owned about 0.43% of Terreno Realty worth $27,747,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Mariner LLC increased its holdings in Terreno Realty by 3.7% in the 4th quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust's stock worth $264,000 after buying an additional 161 shares in the last quarter. Norinchukin Bank The increased its holdings in Terreno Realty by 4.5% in the 1st quarter. Norinchukin Bank The now owns 4,606 shares of the real estate investment trust's stock worth $291,000 after buying an additional 197 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Terreno Realty by 0.9% in the 1st quarter. New York State Teachers Retirement System now owns 22,900 shares of the real estate investment trust's stock worth $1,448,000 after buying an additional 200 shares in the last quarter. Alliance Wealth Advisors LLC UT increased its holdings in Terreno Realty by 2.2% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 9,297 shares of the real estate investment trust's stock worth $588,000 after buying an additional 200 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in Terreno Realty by 5.0% in the 1st quarter. Cetera Investment Advisers now owns 4,448 shares of the real estate investment trust's stock worth $281,000 after buying an additional 213 shares in the last quarter.

Terreno Realty Stock Performance

Shares of NYSE:TRNO traded down $0.73 during mid-day trading on Thursday, reaching $57.09. 173,257 shares of the company traded hands, compared to its average volume of 916,008. The company's 50 day moving average price is $56.28 and its 200-day moving average price is $59.10. The firm has a market cap of $5.90 billion, a PE ratio of 22.65, a PEG ratio of 2.43 and a beta of 1.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. Terreno Realty Corporation has a 52 week low of $48.18 and a 52 week high of $70.10.

Terreno Realty Increases Dividend

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

Insider Buying and Selling

In related news, President Michael A. Coke sold 10,000 shares of the business's stock in a transaction that occurred 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 transaction, the president directly owned 412,415 shares of the company's stock, valued at approximately $22,253,913.40. The trade was a 2.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.40% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on TRNO. 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 report on Wednesday. The Goldman Sachs Group set a $64.00 price objective on Terreno Realty and gave the stock a "buy" rating in a report on Tuesday, August 12th. KeyCorp cut 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. Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Barclays cut their price target on 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 research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Terreno Realty currently has a consensus rating of "Hold" and an average target price of $62.80.

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.