Citigroup Inc. Has $10.82 Million Stock Holdings in Terreno Realty Corporation $TRNO

Key Points

• Citigroup Inc. increased its stake in Terreno Realty Corporation by 12.1% in the first quarter, owning a total of 171,160 shares valued at approximately $10.82 million.
• Terreno Realty announced a quarterly dividend increase to $0.52 per share, which will be paid on October 10th, representing an annualized yield of 3.8%.
• Analyst ratings for Terreno Realty have shown mixed reviews, with one recent upgrade to a "hold" rating and target prices ranging from $56.00 to $72.00.

Citigroup Inc. lifted its stake in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 12.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 171,160 shares of the real estate investment trust's stock after purchasing an additional 18,477 shares during the quarter. Citigroup Inc. owned about 0.17% of Terreno Realty worth $10,821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mariner LLC increased its position in Terreno Realty by 3.7% in the 4th quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust's stock valued at $264,000 after acquiring an additional 161 shares during the period. New York State Teachers Retirement System increased its position in Terreno Realty by 0.9% in the 1st 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 acquiring an additional 200 shares during the period. Cetera Investment Advisers increased its position in Terreno Realty by 5.0% in the 1st quarter. Cetera Investment Advisers now owns 4,448 shares of the real estate investment trust's stock valued at $281,000 after acquiring an additional 213 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Terreno Realty by 0.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,057 shares of the real estate investment trust's stock valued at $4,050,000 after acquiring an additional 250 shares during the period. Finally, First Trust Advisors LP increased its position in Terreno Realty by 0.9% in the 4th quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust's stock valued at $1,810,000 after acquiring an additional 271 shares during the period.

Terreno Realty Price Performance

Shares of TRNO stock traded down $0.39 during mid-day trading on Thursday, hitting $55.25. 798,537 shares of the stock traded hands, compared to its average volume of 783,121. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02. The company's 50-day simple moving average is $56.33 and its 200-day simple moving average is $59.35. Terreno Realty Corporation has a twelve month low of $48.18 and a twelve month high of $71.63.

Terreno Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, September 29th. This is a positive change from Terreno Realty's previous quarterly dividend of $0.49. Terreno Realty's payout ratio is presently 77.78%.

Analyst Upgrades and Downgrades

TRNO has been the topic of several analyst reports. KeyCorp lowered their target price on Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday. Wells Fargo & Company set a $72.00 target price on Terreno Realty in a research report on Sunday, July 13th. Barclays lowered their price target on 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. The Goldman Sachs Group set a $64.00 price target on Terreno Realty and gave the company a "buy" rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $64.00.

Insider Activity

In related news, President Michael A. Coke sold 10,000 shares of Terreno Realty stock in a transaction 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is owned by insiders.

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.