Terreno Realty Corporation $TRNO Shares Acquired by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Terreno Realty stake by 1.4% to 123,333 shares, worth approximately $8.0 million; other institutional investors also adjusted or initiated positions.
• Analysts maintain a generally positive outlook, with Terreno carrying a “Moderate Buy” consensus rating and an average price target of $73.29, above its reported share price of $65.30.
• Terreno reported quarterly EPS of $0.54, beating estimates of $0.41, and raised its quarterly dividend to $0.57 per share, representing a 3.5% annualized yield.

California State Teachers Retirement System lifted its position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,333 shares of the real estate investment trust's stock after purchasing an additional 1,758 shares during the period. California State Teachers Retirement System owned about 0.11% of Terreno Realty worth $7,988,278 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TRNO. EverSource Wealth Advisors LLC boosted its holdings in shares of Terreno Realty by 57.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 159 shares during the period. Clearstead Trust LLC acquired a new stake in shares of Terreno Realty in the second quarter valued at approximately $28,000. Quantbot Technologies LP acquired a new stake in Terreno Realty during the 2nd quarter worth approximately $53,000. Caitong International Asset Management Co. Ltd lifted its stake in Terreno Realty by 125.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,122 shares of the real estate investment trust's stock valued at $66,000 after purchasing an additional 624 shares during the last quarter. Finally, State of Wyoming bought a new stake in Terreno Realty during the second quarter worth about $71,000.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TRNO shares. Weiss Ratings downgraded Terreno Realty from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, September 3rd. KeyCorp raised their target price on shares of Terreno Realty from $72.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, August 12th. Wells Fargo & Company upped their price objective on shares of Terreno Realty from $64.00 to $70.00 and gave the company an "equal weight" rating in a report on Tuesday, September 1st. Barclays increased their price target on Terreno Realty from $60.00 to $69.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Finally, The Goldman Sachs Group upped their price target on Terreno Realty from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Terreno Realty currently has an average rating of "Moderate Buy" and a consensus target price of $73.29.

Insiders Place Their Bets

In related news, President Michael Coke sold 8,000 shares of the stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Meyer sold 4,447 shares of Terreno Realty stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of 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. 1.90% of the stock is currently owned by insiders.

Terreno Realty Stock Up 0.2%

NYSE:TRNO traded up $0.16 on Tuesday, hitting $65.30. 238,110 shares of the company's stock were exchanged, compared to its average volume of 747,809. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a 50-day moving average price of $69.17 and a 200-day moving average price of $66.32. Terreno Realty Corporation has a 52 week low of $55.92 and a 52 week high of $78.94. The company has a market cap of $7.12 billion, a P/E ratio of 17.51 and a beta of 1.02.

Terreno Realty (NYSE:TRNO - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (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 company had revenue of $124.71 million for the quarter, compared to analysts' expectations of $127.15 million. As a group, analysts expect that Terreno Realty Corporation will post 2.83 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.57 per share. This is a boost from Terreno Realty's previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 30th. This represents a $2.28 annualized dividend and a dividend yield of 3.5%. Terreno Realty's dividend payout ratio (DPR) is presently 55.76%.

Terreno Realty Profile

Terreno Realty Corporation NYSE: TRNO is a real estate investment trust that acquires, owns, and operates industrial properties in major coastal U.S. markets. The company focuses primarily on functional, well-located properties that support distribution, transportation, and other industrial activities.

Terreno's portfolio includes warehouses, distribution facilities, transshipment buildings, and industrial properties that may offer outdoor storage or other specialized features. Its strategy emphasizes infill locations with access to population centers, transportation infrastructure, ports, airports, and other important logistics networks.

The company serves six key coastal markets: Los Angeles, Northern New Jersey and New York City, the San Francisco Bay Area, Seattle, Miami, and Washington, DC Terreno Realty was founded in 2009 and became a publicly traded company in 2010.

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.