Nuveen LLC Invests $83.10 Million in Terreno Realty Corporation (NYSE:TRNO)

Key Points

• Nuveen LLC acquired a significant stake in Terreno Realty Corporation, buying 1,314,386 shares valued at approximately $83.1 million, which amounts to about 1.28% of the company.
• Recent brokerages' price objectives for Terreno Realty shares vary, with Wells Fargo setting a target of $72.00 and Goldman Sachs giving it a "buy" rating with a target of $64.00.
• Terreno Realty announced a quarterly dividend increase to $0.52, representing an annual yield of 3.9%, to be paid to investors of record on September 29th.

Nuveen LLC acquired a new position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,314,386 shares of the real estate investment trust's stock, valued at approximately $83,095,000. Nuveen LLC owned approximately 1.28% of Terreno Realty at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TRNO. Quarry LP lifted its holdings in shares of Terreno Realty by 613.7% in the fourth quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 626 shares in the last quarter. Blue Trust Inc. raised its position in shares of 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 buying an additional 655 shares during the last quarter. State of Tennessee Department of Treasury acquired a new position in shares of Terreno Realty in the fourth quarter valued at approximately $71,000. FIL Ltd raised its position in shares of Terreno Realty by 45.3% in the fourth quarter. FIL Ltd now owns 1,213 shares of the real estate investment trust's stock valued at $72,000 after buying an additional 378 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of 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 buying an additional 1,109 shares during the last quarter.

Analysts Set New Price Targets

TRNO has been the subject of several research analyst reports. The Goldman Sachs Group set a $64.00 price target on shares of Terreno Realty and gave the stock a "buy" rating in a research report on Tuesday. Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Wells Fargo & Company set a $72.00 price objective on shares of Terreno Realty in a research report on Sunday, July 13th. Finally, Barclays dropped their price objective on shares of Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Terreno Realty currently has an average rating of "Hold" and an average price target of $64.60.

Insider Buying and Selling at Terreno Realty

In other news, President Michael A. Coke sold 10,000 shares of Terreno Realty stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $53.96, for a total transaction of $539,600.00. Following the completion of the sale, the president owned 412,415 shares of the company's stock, valued at approximately $22,253,913.40. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company's stock.

Terreno Realty Stock Up 0.1%

Shares of NYSE:TRNO traded up $0.06 during midday trading on Friday, hitting $54.19. The stock had a trading volume of 865,190 shares, compared to its average volume of 923,022. Terreno Realty Corporation has a 12 month low of $48.18 and a 12 month high of $71.63. 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 business's 50-day simple moving average is $56.70 and its 200-day simple moving average is $59.64. The company has a market cap of $5.60 billion, a P/E ratio of 21.50, a PEG ratio of 2.32 and a beta of 1.02.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.52 per share. This is an increase from Terreno Realty's previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, September 29th. Terreno Realty's 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.