Fairtree Asset Management Pty Ltd Purchases Shares of 18,767 Terreno Realty Corporation $TRNO

Key Points

• Fairtree Asset Management initiated a position of 18,767 Terreno Realty shares valued at approximately $1.2 million. Other major institutions, including BlackRock, Norges Bank and Principal Financial Group, also increased or established holdings.
• Terreno Realty reported quarterly EPS of $0.54, exceeding the $0.41 consensus estimate, while revenue of $124.7 million fell slightly short of expectations. Shares recently traded at $68.37, within a 12-month range of $54.97 to $78.94.
• The REIT raised its quarterly dividend from $0.52 to $0.57 per share, implying an annualized dividend of $2.28 and a 3.3% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $72.86.

Fairtree Asset Management Pty Ltd purchased a new position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,767 shares of the real estate investment trust's stock, valued at approximately $1,216,000.

Several other hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new position in Terreno Realty during the second quarter worth about $1,213,726,000. Principal Financial Group Inc. increased its stake in shares of Terreno Realty by 246.6% during the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust's stock valued at $257,257,000 after acquiring an additional 2,979,982 shares during the last quarter. Norges Bank purchased a new position in shares of Terreno Realty during the 4th quarter worth about $168,221,000. Bank of New York Mellon Corp purchased a new position in shares of Terreno Realty during the 2nd quarter worth about $53,869,000. Finally, Janus Henderson Group PLC boosted its position in shares of Terreno Realty by 1,252.5% in the first quarter. Janus Henderson Group PLC now owns 642,749 shares of the real estate investment trust's stock worth $39,487,000 after acquiring an additional 595,225 shares during the last quarter.

Terreno Realty Stock Down 0.3%

Shares of NYSE TRNO opened at $68.37 on Friday. Terreno Realty Corporation has a 12-month low of $54.97 and a 12-month high of $78.94. The stock has a fifty day moving average price of $68.98 and a 200 day moving average price of $66.17. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.22. The company has a market cap of $7.45 billion, a P/E ratio of 18.33 and a beta of 1.03.

Terreno Realty (NYSE:TRNO - Get Free Report) last announced 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. The business had revenue of $124.71 million for the quarter, compared to the consensus estimate of $127.15 million. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%. Research analysts anticipate that Terreno Realty Corporation will post 2.82 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This is an increase from Terreno Realty's previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.3%. Terreno Realty's dividend payout ratio is presently 55.76%.

Insiders Place Their Bets

In other news, President Michael A. Coke sold 8,000 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the completion of the transaction, the president directly owned 425,381 shares in the company, valued at approximately $29,087,552.78. This represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Tull Meyer sold 4,447 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total transaction of $305,242.08. Following the sale, the executive vice president directly owned 131,825 shares of the company's stock, valued at approximately $9,048,468. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Terreno Realty from $79.00 to $91.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Wells Fargo & Company cut their price target on shares of Terreno Realty from $68.00 to $64.00 and set an "equal weight" rating on the stock in a research note on Monday, June 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Terreno Realty in a research report on Friday, July 31st. UBS Group set a $68.00 price target on Terreno Realty in a research report on Thursday, June 18th. Finally, Mizuho raised their price objective on Terreno Realty from $56.00 to $60.00 and gave the stock an "underperform" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $72.86.

Terreno Realty Company Profile

Terreno Realty Corporation NYSE: TRNO is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company's portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.

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