Northern Trust Corp Buys 49,494 Shares of Terreno Realty Corporation $TRNO

Key Points

• Northern Trust Corp increased its stake in Terreno Realty Corporation by 2.7%, holding nearly 1.9 million shares valued at approximately $119.81 million as of the latest SEC disclosure.
• Terreno Realty has announced a quarterly dividend increase from $0.49 to $0.52 per share, reflecting a dividend yield of 3.6% set to be paid on October 10th.
• Recent analyst reports show a mix of ratings for Terreno Realty, with the average price target now at $64.00, indicating general caution among investment analysts.

Northern Trust Corp lifted its holdings in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,895,115 shares of the real estate investment trust's stock after buying an additional 49,494 shares during the period. Northern Trust Corp owned 1.84% of Terreno Realty worth $119,809,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TRNO. Renaissance Technologies LLC bought a new stake in shares of Terreno Realty during the 4th quarter valued at about $1,047,000. Mariner LLC grew its position in shares of Terreno Realty by 3.7% during the 4th quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust's stock valued at $264,000 after buying an additional 161 shares during the last quarter. First Trust Advisors LP grew its position in shares of Terreno Realty by 0.9% during the 4th quarter. First Trust Advisors LP now owns 30,612 shares of the real estate investment trust's stock valued at $1,810,000 after buying an additional 271 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Terreno Realty by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,436,210 shares of the real estate investment trust's stock valued at $84,938,000 after buying an additional 38,775 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Terreno Realty by 6.4% during the 4th quarter. MetLife Investment Management LLC now owns 60,671 shares of the real estate investment trust's stock valued at $3,588,000 after buying an additional 3,652 shares during the last quarter.

Insider Buying and Selling at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 10,000 shares of Terreno Realty stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $53.96, for a total transaction of $539,600.00. Following the transaction, the president directly owned 412,415 shares in the company, valued at approximately $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 accessible through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on TRNO shares. Wells Fargo & Company reduced their target price on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday. The Goldman Sachs Group set a $64.00 target price on shares of Terreno Realty and gave the company a "buy" rating in a research note on Tuesday, August 12th. Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. KeyCorp reduced their target price on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday, August 21st. Finally, Barclays reduced their target price on shares of Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 27th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $62.80.

Terreno Realty Price Performance

Shares of NYSE:TRNO traded down $0.53 during trading on Thursday, reaching $57.30. The company had a trading volume of 239,953 shares, compared to its average volume of 916,370. The firm's fifty day moving average is $56.28 and its 200 day moving average is $59.10. The firm has a market capitalization of $5.92 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 2.43 and a beta of 1.02. Terreno Realty Corporation has a twelve month low of $48.18 and a twelve month high of $70.10. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be issued a $0.52 dividend. The ex-dividend date is Monday, September 29th. This is a positive change from Terreno Realty's previous quarterly dividend of $0.49. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. Terreno Realty's dividend payout ratio is 82.54%.

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.