Intech Investment Management LLC Increases Position in Terreno Realty Corporation $TRNO

Key Points

• Intech Investment Management LLC has increased its stake in Terreno Realty Corporation by 14.1%, now owning 46,811 shares valued at approximately $2.96 million.
• Terreno Realty has raised its quarterly dividend from $0.49 to $0.52, representing a 3.6% dividend yield.
• Analysts have mixed opinions on Terreno Realty, with a consensus rating of "Hold" and a price target of $62.89.

Intech Investment Management LLC increased its stake in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 14.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,811 shares of the real estate investment trust's stock after purchasing an additional 5,796 shares during the quarter. Intech Investment Management LLC's holdings in Terreno Realty were worth $2,959,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its holdings in Terreno Realty by 2.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,271,442 shares of the real estate investment trust's stock worth $333,261,000 after purchasing an additional 125,940 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Terreno Realty by 14.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust's stock worth $262,918,000 after buying an additional 523,950 shares during the last quarter. Invesco Ltd. grew its position in shares of Terreno Realty by 5.2% in the 1st quarter. Invesco Ltd. now owns 1,930,096 shares of the real estate investment trust's stock worth $122,021,000 after buying an additional 95,714 shares during the last quarter. Northern Trust Corp raised its stake in shares of Terreno Realty by 2.7% during the 1st quarter. Northern Trust Corp now owns 1,895,115 shares of the real estate investment trust's stock worth $119,809,000 after acquiring an additional 49,494 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Terreno Realty by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,884,086 shares of the real estate investment trust's stock valued at $119,112,000 after acquiring an additional 45,583 shares during the last quarter.

Terreno Realty Stock Down 0.2%

NYSE:TRNO opened at $58.58 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. The company's fifty day moving average price is $56.46 and its 200-day moving average price is $58.22. Terreno Realty Corporation has a 1-year low of $48.18 and a 1-year high of $70.10. The firm has a market capitalization of $6.05 billion, a P/E ratio of 23.24, a PEG ratio of 2.49 and a beta of 1.06.

Terreno Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be issued a $0.52 dividend. This is a boost from Terreno Realty's previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. Terreno Realty's payout ratio is presently 77.78%.

Insider Buying and Selling

In related news, President Michael A. Coke sold 10,000 shares of the business's stock in a transaction 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 $22,253,913.40. The trade was a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

TRNO has been the topic of several analyst reports. Wells Fargo & Company cut their price target on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Barclays lowered their price objective on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 27th. The Goldman Sachs Group set a $64.00 target price on Terreno Realty and gave the company a "buy" rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, KeyCorp dropped their price target on Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a research note on Thursday, August 21st. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Terreno Realty presently has a consensus rating of "Hold" and a consensus price target of $62.89.

About Terreno Realty

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.

Want to see what other hedge funds are holding TRNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terreno Realty Corporation (NYSE:TRNO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.