Terreno Realty Corporation $TRNO Shares Purchased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. increased its stake in Terreno Realty Corporation by 14.4% during the first quarter, now holding over 4.15 million shares valued at approximately $262.9 million.
• Terreno Realty recently increased its quarterly dividend from $0.49 to $0.52 per share, which represents an annual yield of 3.6%.
• Analysts have mixed outlooks on Terreno Realty, with the average rating being "Hold" and a consensus target price set at $64.00.

Price T Rowe Associates Inc. MD increased its position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 14.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,158,754 shares of the real estate investment trust's stock after purchasing an additional 523,950 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 4.04% of Terreno Realty worth $262,918,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Mariner LLC increased its position in shares of Terreno Realty by 3.7% during the fourth quarter. Mariner LLC now owns 4,464 shares of the real estate investment trust's stock worth $264,000 after purchasing an additional 161 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Terreno Realty by 0.9% in the 1st quarter. New York State Teachers Retirement System now owns 22,900 shares of the real estate investment trust's stock valued at $1,448,000 after buying an additional 200 shares in the last quarter. Alliance Wealth Advisors LLC UT grew its holdings in Terreno Realty by 2.2% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 9,297 shares of the real estate investment trust's stock valued at $588,000 after buying an additional 200 shares in the last quarter. Cetera Investment Advisers grew its holdings in Terreno Realty by 5.0% in the 1st quarter. Cetera Investment Advisers now owns 4,448 shares of the real estate investment trust's stock valued at $281,000 after buying an additional 213 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Terreno Realty by 0.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,057 shares of the real estate investment trust's stock valued at $4,050,000 after buying an additional 250 shares in the last quarter.

Insider Transactions at Terreno Realty

In related news, President Michael A. Coke sold 10,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $53.96, for a total transaction of $539,600.00. Following the transaction, the president owned 412,415 shares of the company's stock, valued at approximately $22,253,913.40. This represents a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company's stock.

Terreno Realty Trading Up 1.2%

Shares of Terreno Realty stock traded up $0.68 during trading hours on Wednesday, hitting $57.87. The company's stock had a trading volume of 1,248,242 shares, compared to its average volume of 920,640. The firm has a fifty day moving average of $56.28 and a 200-day moving average of $59.10. 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. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 2.46 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. Investors of record on Monday, September 29th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, September 29th. This is a positive change from Terreno Realty's previous quarterly dividend of $0.49. Terreno Realty's dividend payout ratio is currently 77.78%.

Analyst Ratings Changes

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

Terreno Realty Company 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.