Lincluden Management Ltd. Grows Holdings in Terreno Realty Corporation $TRNO

Key Points

• Lincluden Management Ltd. increased its holdings in Terreno Realty Corporation by 47.8% in Q2, owning 41,251 shares valued at approximately $2.31 million.
• Terreno Realty recently declared a quarterly dividend of $0.52 per share, up from $0.49, resulting in an annualized yield of 3.7%.
• Analysts have a consensus target price of $63.70 for Terreno Realty, with several firms rating it as a "Hold" or "Buy".

Lincluden Management Ltd. lifted its holdings in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 47.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,251 shares of the real estate investment trust's stock after buying an additional 13,332 shares during the quarter. Lincluden Management Ltd.'s holdings in Terreno Realty were worth $2,313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRNO. Geneos Wealth Management Inc. grew its position in shares of Terreno Realty by 304.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock worth $29,000 after buying an additional 350 shares during the period. Jones Financial Companies Lllp grew its position in Terreno Realty by 90.2% during the 1st 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 during the last quarter. Blue Trust Inc. grew its position in Terreno Realty by 143.6% during the 1st 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 during the last quarter. GAMMA Investing LLC grew its position in Terreno Realty by 840.2% during the 1st 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 during the last quarter. Finally, Archer Investment Corp purchased a new stake in Terreno Realty during the 1st quarter valued at about $160,000.

Insider Buying and Selling at Terreno Realty

In other news, President Michael A. Coke sold 10,000 shares of the 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 transaction, the president owned 412,415 shares in the company, valued at $22,253,913.40. This represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is owned by company insiders.

Terreno Realty Stock Performance

Shares of NYSE TRNO opened at $55.94 on Friday. The firm's 50-day moving average price is $56.90 and its 200-day moving average price is $57.09. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.20. The company has a market cap of $5.78 billion, a PE ratio of 22.20, a PEG ratio of 2.39 and a beta of 1.04. Terreno Realty Corporation has a 52-week low of $48.18 and a 52-week high of $69.20.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 29th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, September 29th. This is a boost from Terreno Realty's previous quarterly dividend of $0.49. Terreno Realty's payout ratio is 82.54%.

Wall Street Analyst Weigh In

TRNO has been the topic of several recent analyst reports. The Goldman Sachs Group set a $64.00 price objective on shares of Terreno Realty and gave the company a "buy" rating in a research report on Tuesday, August 12th. KeyCorp cut their price objective on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, August 21st. Cantor Fitzgerald initiated coverage on shares of Terreno Realty in a research report on Wednesday, October 1st. They set an "overweight" rating and a $70.00 price objective on the stock. Piper Sandler increased their price objective on shares of Terreno Realty from $58.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, September 18th. Finally, Barclays increased their price objective on shares of Terreno Realty from $56.00 to $57.00 and gave the company an "equal weight" rating in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $63.70.

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.

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