Bank of America Corp DE Buys 163,347 Shares of Terreno Realty Corporation $TRNO

Key Points

• Bank of America increased its Terreno Realty stake by 21.8% in the first quarter, acquiring 163,347 shares and bringing its holdings to 912,214 shares worth approximately $56 million.
• Terreno reported quarterly EPS of $0.54, beating estimates of $0.41, although revenue of $124.71 million missed expectations. The company also raised its quarterly dividend to $0.57 per share, implying a 3.3% annualized yield.
• Analyst sentiment remains Moderate Buy with an average price target of $71.93, but two executives recently sold a combined 12,447 shares for roughly $852,000.

Bank of America Corp DE lifted its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 21.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 912,214 shares of the real estate investment trust's stock after acquiring an additional 163,347 shares during the quarter. Bank of America Corp DE owned approximately 0.86% of Terreno Realty worth $56,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TRNO. Jones Financial Companies Lllp grew its position in shares of Terreno Realty by 90.2% in the 1st quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 378 shares during the period. Geneos Wealth Management Inc. grew its holdings in Terreno Realty by 304.3% during the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 350 shares during the period. EverSource Wealth Advisors LLC increased its position in Terreno Realty by 73.3% during the second quarter. EverSource Wealth Advisors LLC now owns 447 shares of the real estate investment trust's stock worth $25,000 after buying an additional 189 shares during the last quarter. First Trust Advisors LP raised its stake in Terreno Realty by 78.9% in the second quarter. First Trust Advisors LP now owns 52,473 shares of the real estate investment trust's stock valued at $2,942,000 after buying an additional 23,135 shares during the period. Finally, Amundi raised its stake in Terreno Realty by 18.6% in the second quarter. Amundi now owns 67,020 shares of the real estate investment trust's stock valued at $3,799,000 after buying an additional 10,525 shares during the period.

Insider Buying and Selling

In other Terreno Realty news, EVP John Tull Meyer sold 4,447 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction on Friday, August 7th. The shares were 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 of the company's stock, valued at $29,087,552.78. This represents a 1.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company's stock.

Terreno Realty News Roundup

Here are the key news stories impacting Terreno Realty this week:

• Positive Sentiment: Expansion with immediate occupancy: Terreno acquired a Torrance, California, industrial property for $14.7 million and executed a lease covering 100% of the building beginning in December 2026. The transaction should add rental income while limiting near-term vacancy risk. Terreno Realty Torrance acquisition
• Positive Sentiment: Dividend increased: Terreno announced a quarterly dividend of $0.57 per share, up from $0.52. The new annualized payout of $2.28 represents a yield of approximately 3.3%, potentially supporting demand among income-focused investors.
• Positive Sentiment: Higher valuation target: Citigroup raised its price target from $70 to $73 while maintaining a neutral rating, implying roughly 6.8% upside from the referenced share price. The broader analyst consensus remains “Moderate Buy,” with an average target of $71.93. Citigroup raises Terreno Realty price target
• Neutral Sentiment: Recent earnings were better than expected: Terreno reported quarterly EPS of $0.54, exceeding the $0.41 consensus estimate, although revenue of $124.71 million fell short of the $127.15 million forecast. Analysts project full-year EPS of $2.82.
• Negative Sentiment: Executive selling: President Michael Coke sold 8,000 shares for approximately $547,040, reducing his stake by 1.85%. EVP John Tull Meyer separately sold 4,447 shares for about $305,242, cutting his position by 3.26%. Both executives continue to hold sizable positions, but the back-to-back sales could create modest investor concern. Terreno Realty executive stock sale filing

Terreno Realty Stock Performance

Shares of Terreno Realty stock opened at $68.36 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a 50-day moving average of $68.52 and a 200-day moving average of $65.82. Terreno Realty Corporation has a 52-week low of $53.10 and a 52-week high of $78.94. The stock has a market cap of $7.45 billion, a PE ratio of 18.33 and a beta of 1.03.

Terreno Realty (NYSE:TRNO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $127.15 million. As a group, sell-side analysts forecast that Terreno Realty Corporation will post 2.82 EPS for the current year.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a dividend of $0.57 per share. This is an increase from Terreno Realty's previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Terreno Realty's dividend payout ratio (DPR) is currently 55.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TRNO. Citigroup increased their price target on Terreno Realty from $70.00 to $73.00 and gave the company a "neutral" rating in a research note on Monday. Raymond James Financial began coverage on shares of Terreno Realty in a research report on Wednesday, June 17th. They set an "underperform" rating for the company. Piper Sandler upped their price objective on shares of Terreno Realty from $79.00 to $91.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. KeyCorp reissued an "overweight" rating on shares of Terreno Realty in a research report on Tuesday, June 23rd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Terreno Realty in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $71.93.

About Terreno Realty

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.

Want to see what other hedge funds are holding TRNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terreno Realty Corporation (NYSE:TRNO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source