Copeland Capital Management LLC Sells 104,570 Shares of Terreno Realty Corporation $TRNO

Key Points

• Copeland Capital Management LLC reduced its stake in Terreno Realty Corporation by 8.7%, selling 104,570 shares and now holds 1,093,749 shares, representing about 1.3% of its portfolio.
• Terreno Realty recently increased its quarterly dividend from $0.49 to $0.52, with an annual yield of 3.6%, to be paid on October 10th.
• Multiple analysts have adjusted their price targets for Terreno Realty, with Goldman Sachs setting a $64.00 buy rating, while Wells Fargo lowered its target to $60.00, reflecting a consensus rating of "Hold".

Copeland Capital Management LLC lessened its position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 8.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,093,749 shares of the real estate investment trust's stock after selling 104,570 shares during the period. Terreno Realty makes up about 1.3% of Copeland Capital Management LLC's portfolio, making the stock its 29th largest holding. Copeland Capital Management LLC owned approximately 1.06% of Terreno Realty worth $61,327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norinchukin Bank The lifted its holdings 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 acquiring 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 1st quarter. New York State Teachers Retirement System now owns 22,900 shares of the real estate investment trust's stock worth $1,448,000 after acquiring an additional 200 shares during the period. Alliance Wealth Advisors LLC UT lifted its holdings in shares of Terreno Realty by 2.2% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 9,297 shares of the real estate investment trust's stock worth $588,000 after acquiring an additional 200 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Terreno Realty by 3.2% during the 2nd quarter. Fifth Third Bancorp now owns 6,423 shares of the real estate investment trust's stock worth $360,000 after acquiring an additional 202 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in 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.

Terreno Realty Trading Up 0.0%

Shares of NYSE TRNO opened at $57.71 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75. Terreno Realty Corporation has a 52-week low of $48.18 and a 52-week high of $69.20. The firm has a 50 day moving average price of $56.67 and a two-hundred day moving average price of $57.42. The stock has a market cap of $5.96 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 2.46 and a beta of 1.04.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be given a $0.52 dividend. This is an increase from Terreno Realty's previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 29th. This represents a $2.08 annualized dividend and a yield of 3.6%. Terreno Realty's dividend payout ratio is currently 82.54%.

Insider Transactions at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the transaction, the president directly owned 412,415 shares in the company, valued at approximately $22,253,913.40. This represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TRNO. Wells Fargo & Company lowered their price objective on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Piper Sandler upped their price objective on shares of Terreno Realty from $58.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, September 18th. Barclays upped their price objective on shares of Terreno Realty from $56.00 to $57.00 and gave the stock an "equal weight" rating in a research report on Monday, September 15th. The Goldman Sachs Group set a $64.00 price objective on shares of Terreno Realty and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Finally, Cantor Fitzgerald began coverage on shares of Terreno Realty in a research report on Wednesday. They set an "overweight" rating and a $70.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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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