Chevy Chase Trust Holdings LLC Decreases Stake in Terreno Realty Corporation $TRNO

Key Points

• Chevy Chase Trust Holdings LLC reduced its stake in Terreno Realty Corporation by 3.6%, holding 621,956 shares valued at approximately $34.87 million after selling 23,110 shares in the second quarter.
• Terreno Realty announced a quarterly dividend increase from $0.49 to $0.52, representing an annualized yield of 3.4% with a payout ratio of 82.54%.
• Analyst ratings for Terreno Realty show a mix of opinions, with multiple firms adjusting target prices, resulting in an average consensus target of $63.70 and various ratings including three "Buy" and seven "Hold".

Chevy Chase Trust Holdings LLC lessened its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 3.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 621,956 shares of the real estate investment trust's stock after selling 23,110 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.60% of Terreno Realty worth $34,873,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake in shares of Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 350 shares during the period. Jones Financial Companies Lllp boosted its stake 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 buying an additional 378 shares during the period. CWM LLC boosted its stake in shares of Terreno Realty by 26.5% in the 2nd quarter. CWM LLC now owns 1,171 shares of the real estate investment trust's stock valued at $66,000 after buying an additional 245 shares during the period. Blue Trust Inc. boosted its stake in shares of Terreno Realty by 143.6% in the 1st quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock valued at $70,000 after buying an additional 655 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Terreno Realty by 840.2% in the 1st quarter. GAMMA Investing LLC now owns 1,241 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 1,109 shares during the period.

Terreno Realty Price Performance

TRNO stock opened at $61.01 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.20. Terreno Realty Corporation has a fifty-two week low of $48.18 and a fifty-two week high of $69.20. The business has a 50 day moving average price of $57.33 and a 200 day moving average price of $56.99. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 2.57 and a beta of 1.04.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 29th were paid a $0.52 dividend. This is an increase from Terreno Realty's previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Monday, September 29th. Terreno Realty's dividend payout ratio (DPR) is presently 82.54%.

Insiders Place Their Bets

In other Terreno Realty 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 completion of the sale, the president owned 412,415 shares in the company, valued at approximately $22,253,913.40. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays lifted their price objective on Terreno Realty from $56.00 to $57.00 and gave the company an "equal weight" rating in a research note on Monday, September 15th. The Goldman Sachs Group set a $64.00 target price on Terreno Realty and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Weiss Ratings restated a "hold (c)" rating on shares of Terreno Realty in a research note on Wednesday, October 8th. Wells Fargo & Company decreased their target price on Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Finally, Piper Sandler boosted their target price on Terreno Realty from $58.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, September 18th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $63.70.

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.

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