Moody Aldrich Partners LLC Purchases 39,231 Shares of Terreno Realty Corporation $TRNO

Key Points

• Moody Aldrich Partners increased its Terreno Realty stake by 39.7%, purchasing 39,231 additional shares to hold 138,027 shares valued at approximately $8.91 million.
• Terreno Realty reported quarterly EPS of $0.54, exceeding the $0.41 analyst consensus, and raised its quarterly dividend from $0.52 to $0.57 per share, equating to a 3.6% annualized yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $73.47 versus its reported price of $63.64.

Moody Aldrich Partners LLC grew its position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 39.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,027 shares of the real estate investment trust's stock after buying an additional 39,231 shares during the period. Terreno Realty accounts for 1.7% of Moody Aldrich Partners LLC's investment portfolio, making the stock its 3rd largest position. Moody Aldrich Partners LLC owned about 0.13% of Terreno Realty worth $8,910,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Terreno Realty in the 2nd quarter worth about $1,213,726,000. Principal Financial Group Inc. raised its stake in Terreno Realty by 246.6% in 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 period. Legal & General Group Plc purchased a new stake in Terreno Realty during the second quarter valued at about $61,764,000. Bank of New York Mellon Corp purchased a new stake in Terreno Realty during the second quarter valued at about $53,869,000. Finally, Bank of America Corp DE purchased a new stake in Terreno Realty during the second quarter valued at about $52,358,000.

Terreno Realty Price Performance

Shares of NYSE TRNO opened at $63.64 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43. Terreno Realty Corporation has a fifty-two week low of $56.09 and a fifty-two week high of $78.94. The stock has a market cap of $6.94 billion, a PE ratio of 17.06 and a beta of 1.03. The stock has a fifty day moving average of $65.72 and a 200-day moving average of $65.69.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%. The business had revenue of $124.71 million for the quarter, compared to analysts' expectations of $127.15 million. Equities research analysts anticipate that Terreno Realty Corporation will post 2.84 earnings per share for the current year.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.57 per share. This is a boost from Terreno Realty's previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, September 30th. Terreno Realty's dividend payout ratio (DPR) is currently 61.13%.

Analyst Ratings Changes

A number of brokerages have weighed in on TRNO. Royal Bank Of Canada set a $73.00 target price on shares of Terreno Realty in a research report on Wednesday, October 7th. UBS Group set a $74.00 price target on shares of Terreno Realty in a research report on Monday, September 21st. The Goldman Sachs Group upped their price target on shares of Terreno Realty from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Citigroup restated a "market outperform" rating on shares of Terreno Realty in a research note on Wednesday, October 7th. Finally, KeyCorp raised their price objective on shares of Terreno Realty from $72.00 to $75.00 and gave the stock an "overweight" rating in a 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 issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $73.47.

Insider Activity

In other news, EVP John Meyer sold 4,447 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was 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 in the company, valued at $9,048,468. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Michael Coke sold 8,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $68.38, for a total transaction of $547,040.00. Following the completion of the sale, the president directly owned 425,381 shares in the company, valued at approximately $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company's stock.

Terreno Realty Profile

Terreno Realty Corporation is a real estate investment trust that owns, operates, and invests in industrial properties. The company primarily targets functional, well-located properties serving distribution, logistics, and other industrial uses in densely populated coastal markets.

Terreno's portfolio generally includes warehouse, transshipment, and industrial-flex properties, as well as improved land and other assets that support industrial operations. Its activities include acquiring properties, leasing available space to tenants, and managing, developing, and redeveloping properties to enhance their utility and value.

The company focuses on major U.S.

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