Charles Schwab Investment Management Inc. Buys 45,583 Shares of Terreno Realty Corporation (NYSE:TRNO)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Terreno Realty Corporation by 2.5%, acquiring an additional 45,583 shares, bringing its total ownership to 1,884,086 shares valued at approximately $119 million.
• Several hedge funds have made significant changes to their positions in Terreno Realty, including Cerity Partners LLC, which raised its stake by 233.9% during the first quarter.
• Terreno Realty recently announced a quarterly dividend increase to $0.52 per share, reflecting a 3.9% annual yield, up from the previous dividend of $0.49.

Charles Schwab Investment Management Inc. boosted its position in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,884,086 shares of the real estate investment trust's stock after buying an additional 45,583 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.83% of Terreno Realty worth $119,112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mariner LLC raised its position in Terreno Realty by 3.7% during the fourth quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust's stock worth $264,000 after acquiring an additional 161 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Terreno Realty by 0.9% in the first quarter. New York State Teachers Retirement System now owns 22,900 shares of the real estate investment trust's stock valued at $1,448,000 after purchasing an additional 200 shares during the period. Cetera Investment Advisers raised its position in shares of Terreno Realty by 5.0% in the first quarter. Cetera Investment Advisers now owns 4,448 shares of the real estate investment trust's stock valued at $281,000 after purchasing an additional 213 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Terreno Realty by 0.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,057 shares of the real estate investment trust's stock valued at $4,050,000 after purchasing an additional 250 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Terreno Realty by 0.9% in the fourth quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust's stock valued at $1,810,000 after purchasing an additional 271 shares during the period.

Wall Street Analyst Weigh In

TRNO has been the topic of several research analyst reports. Barclays dropped their price objective on shares of Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 27th. Wells Fargo & Company set a $72.00 price target on shares of Terreno Realty in a research report on Sunday, July 13th. 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 report on Tuesday. Finally, Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Terreno Realty presently has a consensus rating of "Hold" and an average target price of $64.60.

Insider Transactions at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 10,000 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $53.96, for a total transaction of $539,600.00. Following the completion of the sale, the president directly owned 412,415 shares in the company, valued at $22,253,913.40. The trade was a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.40% of the company's stock.

Terreno Realty Trading Up 0.5%

Shares of NYSE:TRNO traded up $0.25 during trading on Friday, reaching $54.38. 339,609 shares of the company traded hands, compared to its average volume of 919,481. The business's fifty day moving average is $56.79 and its 200-day moving average is $59.72. Terreno Realty Corporation has a 52-week low of $48.18 and a 52-week high of $71.63. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 2.32 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, September 29th. This represents a $2.08 annualized dividend and a yield of 3.8%. This is an increase from Terreno Realty's previous quarterly dividend of $0.49. Terreno Realty's dividend payout ratio (DPR) is currently 77.78%.

About Terreno Realty

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.