Intech Investment Management LLC Grows Stock Holdings 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 raised its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,811 shares of the real estate investment trust's stock after purchasing an additional 5,796 shares during the period. Intech Investment Management LLC's holdings in Terreno Realty were worth $2,959,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in Terreno Realty by 90.2% in the first quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 378 shares in the last quarter. Blue Trust Inc. increased its stake in Terreno Realty by 143.6% in the first quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 655 shares in the last quarter. GAMMA Investing LLC increased its stake in Terreno Realty by 840.2% in the first quarter. GAMMA Investing LLC now owns 1,241 shares of the real estate investment trust's stock valued at $78,000 after purchasing an additional 1,109 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Terreno Realty in the fourth quarter valued at $104,000. Finally, Archer Investment Corp acquired a new stake in shares of Terreno Realty in the 1st quarter worth about $160,000.

Analysts Set New Price Targets

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

Insider Transactions at Terreno Realty

In related news, President Michael A. Coke sold 10,000 shares of Terreno Realty stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $53.96, for a total transaction of $539,600.00. Following the completion of the transaction, the president directly owned 412,415 shares of the company's stock, valued at $22,253,913.40. This trade represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.40% of the stock is currently owned by company insiders.

Terreno Realty Trading Down 0.2%

TRNO traded down $0.09 during trading on Friday, hitting $58.52. 1,637,274 shares of the stock traded hands, compared to its average volume of 717,976. The firm has a market capitalization of $6.05 billion, a P/E ratio of 23.22, a price-to-earnings-growth ratio of 2.50 and a beta of 1.06. 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 firm has a 50-day moving average of $56.59 and a 200 day moving average of $58.03. Terreno Realty Corporation has a 12-month low of $48.18 and a 12-month high of $69.82.

Terreno Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be given a $0.52 dividend. 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%. This is a positive change from Terreno Realty's previous quarterly dividend of $0.49. Terreno Realty's dividend payout ratio is 77.78%.

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.