Congress Asset Management Co. Purchases 8,896 Shares of Terreno Realty Corporation $TRNO

Key Points

• Congress Asset Management Co. increased its position in Terreno Realty Corporation by 1.7%, purchasing an additional 8,896 shares, bringing its total ownership to 520,356 shares valued at approximately $29.18 million.
• Terreno Realty announced a quarterly dividend increase to $0.52, payable on October 10th, giving it an annualized yield of 3.6%.
• Analysts have set varying price targets for Terreno Realty, with Goldman Sachs recommending a "buy" rating and a target of $64.00, while consensus indicates a hold status with an average target price of $63.00.

Congress Asset Management Co. lifted its position in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 520,356 shares of the real estate investment trust's stock after purchasing an additional 8,896 shares during the quarter. Congress Asset Management Co. owned 0.50% of Terreno Realty worth $29,176,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norinchukin Bank The lifted its position in shares of Terreno Realty by 4.5% during the 1st quarter. Norinchukin Bank The now owns 4,606 shares of the real estate investment trust's stock worth $291,000 after buying an additional 197 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Terreno Realty by 0.9% during 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 acquiring an additional 200 shares during the period. Alliance Wealth Advisors LLC UT boosted its stake in shares of Terreno Realty by 2.2% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 9,297 shares of the real estate investment trust's stock valued at $588,000 after purchasing an additional 200 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Terreno Realty by 3.2% in the 2nd quarter. Fifth Third Bancorp now owns 6,423 shares of the real estate investment trust's stock worth $360,000 after purchasing an additional 202 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Terreno Realty by 3.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,079 shares of the real estate investment trust's stock worth $347,000 after purchasing an additional 208 shares in the last quarter.

Insider Buying and Selling

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 of the company's stock, valued at approximately $22,253,913.40. The trade was a 2.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

Terreno Realty Stock Up 0.4%

NYSE TRNO opened at $57.64 on Friday. The stock has a market capitalization of $5.95 billion, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 2.45 and a beta of 1.06. Terreno Realty Corporation has a 52 week low of $48.18 and a 52 week high of $69.20. 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 stock has a fifty day moving average of $56.69 and a 200-day moving average of $57.68.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be given a $0.52 dividend. The ex-dividend date is Monday, September 29th. This is a positive change from Terreno Realty's previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. Terreno Realty's dividend payout ratio is 77.78%.

Analyst Upgrades and Downgrades

TRNO has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $64.00 price target on shares of Terreno Realty and gave the company a "buy" rating in a research report on Tuesday, August 12th. KeyCorp reduced their target price on Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a report on Thursday, August 21st. Piper Sandler raised their price target on Terreno Realty from $58.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, September 18th. Barclays boosted their price objective on Terreno Realty from $56.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Monday, September 15th. Finally, Wells Fargo & Company cut their price target on Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Terreno Realty presently has an average rating of "Hold" and an average target price of $63.00.

Terreno Realty 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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