Copeland Capital Management LLC Sells 24,437 Shares of Terreno Realty Corporation $TRNO

Key Points

• Copeland Capital Management reduced its Terreno Realty stake by 2.6%, selling 24,437 shares in the third quarter and retaining 900,004 shares valued at approximately $58.1 million.
• Analysts remain broadly positive, with Terreno Realty carrying a consensus “Moderate Buy” rating and an average price target of $73.47, despite some target-price adjustments.
• Terreno Realty raised its quarterly dividend from $0.52 to $0.57 per share, equivalent to an annualized $2.28 dividend and a 3.5% yield; its latest quarterly EPS of $0.54 exceeded estimates.

Copeland Capital Management LLC trimmed its holdings in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 900,004 shares of the real estate investment trust's stock after selling 24,437 shares during the period. Terreno Realty comprises approximately 1.3% of Copeland Capital Management LLC's holdings, making the stock its 25th biggest holding. Copeland Capital Management LLC owned 0.83% of Terreno Realty worth $58,095,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GK Wealth Management LLC purchased a new position in Terreno Realty in the 3rd quarter valued at about $62,000. GAMMA Investing LLC boosted its holdings in shares of Terreno Realty by 26.3% during the third quarter. GAMMA Investing LLC now owns 3,230 shares of the real estate investment trust's stock worth $208,000 after purchasing an additional 673 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in shares of Terreno Realty by 31.0% during the third quarter. Moody National Bank Trust Division now owns 15,363 shares of the real estate investment trust's stock worth $992,000 after purchasing an additional 3,636 shares during the last quarter. Cim Investment Management Inc. grew its position in shares of Terreno Realty by 7.4% in the second quarter. Cim Investment Management Inc. now owns 3,565 shares of the real estate investment trust's stock valued at $231,000 after purchasing an additional 246 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Terreno Realty in the second quarter valued at $243,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup restated a "market outperform" rating on shares of Terreno Realty in a report on Wednesday, October 7th. Cantor Fitzgerald boosted their target price on Terreno Realty from $75.00 to $77.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. Piper Sandler decreased their target price on Terreno Realty from $91.00 to $85.00 and set an "overweight" rating for the company in a report on Monday. KeyCorp increased their target price on shares of Terreno Realty from $72.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Finally, Scotiabank increased their target price on shares of Terreno Realty from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $73.47.

Insider Transactions at Terreno Realty

In related news, EVP John Meyer sold 4,447 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total transaction of $305,242.08. Following the completion of the sale, the executive vice president owned 131,825 shares of the company's stock, valued at $9,048,468. This represents a 3.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael Coke sold 8,000 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $68.38, for a total transaction of $547,040.00. Following the sale, the president directly owned 425,381 shares of the company's stock, valued at approximately $29,087,552.78. This represents a 1.85% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.90% of the company's stock.

Terreno Realty Stock Performance

NYSE:TRNO opened at $65.99 on Wednesday. The firm has a 50-day moving average of $66.50 and a two-hundred day moving average of $66.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market cap of $7.19 billion, a P/E ratio of 22.95 and a beta of 1.03. Terreno Realty Corporation has a 1-year low of $56.09 and a 1-year high of $78.94.

Terreno Realty (NYSE:TRNO - Get Free Report) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%. The company had revenue of $124.71 million during the quarter, compared to analysts' expectations of $127.15 million. On average, research analysts expect that Terreno Realty Corporation will post 2.85 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, September 30th. This is an increase from Terreno Realty's previous quarterly dividend of $0.52. Terreno Realty's payout ratio is 61.13%.

Terreno Realty Profile

Terreno Realty Corporation is a real estate investment trust that acquires, owns, and operates industrial properties in major coastal U.S. markets. Its portfolio is focused primarily on functional, well-located properties that support logistics, distribution, warehousing, and other industrial uses.

The company serves metropolitan areas including Los Angeles, the San Francisco Bay Area, Seattle, New York City and Northern New Jersey, Miami, and Washington, DC Its properties generally include warehouse, distribution, flex, and other industrial facilities leased to businesses across a range of industries.

Terreno Realty was founded in 2009 and became a publicly traded company in 2010.

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