NFJ Investment Group LLC Acquires Shares of 81,377 Terreno Realty Corporation $TRNO

Key Points

• NFJ Investment Group acquired 81,377 shares of Terreno Realty worth approximately $5.27 million, representing about 0.07% of the REIT. Several other institutional investors also initiated positions during the second quarter, including BlackRock.
• Analysts maintain a generally positive outlook, with Terreno Realty receiving a consensus “Moderate Buy” rating and an average price target of $72.86. Recent firms raised their targets to as high as $91.
• Terreno Realty reported quarterly EPS of $0.54, exceeding the $0.41 consensus estimate, and increased its quarterly dividend to $0.57 per share from $0.52, implying a 3.3% annualized yield.

NFJ Investment Group LLC bought a new position in Terreno Realty Corporation (NYSE:TRNO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 81,377 shares of the real estate investment trust's stock, valued at approximately $5,271,000. NFJ Investment Group LLC owned about 0.07% of Terreno Realty as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fairtree Asset Management Pty Ltd purchased a new stake in shares of Terreno Realty during the second quarter valued at approximately $1,216,000. Vise Technologies Inc. purchased a new position in Terreno Realty in the 2nd quarter worth approximately $531,000. NewEdge Wealth LLC bought a new position in Terreno Realty in the 2nd quarter valued at approximately $272,000. Diversify Advisory Services LLC bought a new position in Terreno Realty in the 2nd quarter valued at approximately $1,683,000. Finally, BlackRock Inc. purchased a new stake in Terreno Realty during the 2nd quarter valued at $1,213,726,000.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TRNO. Weiss Ratings restated a "buy (b)" rating on shares of Terreno Realty in a research note on Friday, July 31st. Cantor Fitzgerald increased their price objective on Terreno Realty from $75.00 to $77.00 and gave the company an "overweight" rating in a research report on Monday. Piper Sandler lifted their price objective on Terreno Realty from $79.00 to $91.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. UBS Group set a $68.00 target price on Terreno Realty in a research report on Thursday, June 18th. Finally, Citigroup upped their target price on shares of Terreno Realty from $70.00 to $73.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Terreno Realty has a consensus rating of "Moderate Buy" and an average target price of $72.86.

Insider Transactions at Terreno Realty

In other news, EVP John Tull Meyer sold 4,447 shares of Terreno Realty 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 transaction, the executive vice president directly owned 131,825 shares of the company's stock, valued at $9,048,468. The trade was a 3.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael A. Coke sold 8,000 shares of Terreno Realty stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the transaction, 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company's stock.

Terreno Realty Stock Down 0.3%

TRNO opened at $68.37 on Friday. The firm's 50 day simple moving average is $68.98 and its two-hundred day simple moving average is $66.17. The company has a market capitalization of $7.45 billion, a PE ratio of 18.33 and a beta of 1.03. Terreno Realty Corporation has a 1-year low of $54.97 and a 1-year high of $78.94. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.22.

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, beating analysts' consensus estimates of $0.41 by $0.13. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. The firm had revenue of $124.71 million during the quarter, compared to the consensus estimate of $127.15 million. As a group, equities analysts forecast that Terreno Realty Corporation will post 2.82 EPS for the current year.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued 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 yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Terreno Realty's dividend payout ratio is presently 55.76%.

Terreno Realty 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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