Bamco Inc. NY Purchases New Position in Terreno Realty Corporation $TRNO

Key Points

• Bamco Inc. NY acquired 67,525 shares of Terreno Realty in the second quarter, a position valued at approximately $4.4 million. Several other major institutional investors also increased or initiated holdings.
• Analysts maintain a generally positive outlook, with Terreno receiving a consensus “Moderate Buy” rating and an average price target of $72.86, compared with the reported share price of $67.12.
• Terreno reported quarterly EPS of $0.54, exceeding estimates of $0.41, and raised its quarterly dividend from $0.52 to $0.57 per share, implying an annualized yield of about 3.4%.

Bamco Inc. NY acquired a new position in Terreno Realty Corporation (NYSE:TRNO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 67,525 shares of the real estate investment trust's stock, valued at approximately $4,374,000. Bamco Inc. NY owned 0.06% of Terreno Realty at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Terreno Realty in the second quarter valued at $1,213,726,000. State Street Corp grew its holdings in Terreno Realty by 4.0% during the 2nd quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust's stock valued at $336,139,000 after buying an additional 230,444 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Terreno Realty by 246.6% during the first quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust's stock valued at $257,257,000 after buying an additional 2,979,982 shares during the period. Norges Bank purchased a new stake in shares of Terreno Realty in the fourth quarter worth about $168,221,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Terreno Realty by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust's stock worth $159,620,000 after buying an additional 17,921 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group set a $68.00 target price on shares of Terreno Realty in a report on Thursday, June 18th. Robert W. Baird set a $69.00 price target on shares of Terreno Realty in a research report on Friday, May 8th. Citigroup upped their price target on shares of Terreno Realty from $70.00 to $73.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Cantor Fitzgerald increased their price objective on Terreno Realty from $75.00 to $77.00 and gave the stock an "overweight" rating in a research report on Monday, August 17th. Finally, Scotiabank lifted their price objective on Terreno Realty from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $72.86.

Terreno Realty Trading Down 0.7%

Shares of Terreno Realty stock opened at $67.12 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. Terreno Realty Corporation has a 1 year low of $55.71 and a 1 year high of $78.94. The firm has a market cap of $7.31 billion, a PE ratio of 18.00 and a beta of 1.03. The company has a 50 day simple moving average of $69.21 and a two-hundred day simple moving average of $66.32.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. The firm had revenue of $124.71 million for the quarter, compared to analyst estimates of $127.15 million. Analysts expect that Terreno Realty Corporation will post 2.82 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.57 per share. The ex-dividend date is Wednesday, September 30th. This is a positive change from Terreno Realty's previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a yield of 3.4%. Terreno Realty's dividend payout ratio (DPR) is 55.76%.

Insider Transactions at Terreno Realty

In other news, President Michael A. Coke sold 8,000 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $68.38, for a total value of $547,040.00. Following the completion of the transaction, the president directly owned 425,381 shares in the company, valued at approximately $29,087,552.78. This represents a 1.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Tull Meyer sold 4,447 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total value of $305,242.08. Following the transaction, the executive vice president owned 131,825 shares in the company, valued at $9,048,468. This trade represents a 3.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.90% of the company's stock.

Terreno Realty Profile

Terreno Realty Corporation NYSE: TRNO is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company's portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.

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