Public Employees Retirement System of Ohio Invests $7.95 Million in Terreno Realty Corporation $TRNO

Key Points

• Public Employees Retirement System of Ohio acquired 122,697 shares of Terreno Realty worth approximately $7.95 million, representing about 0.11% of the REIT. Other major institutions, including BlackRock and Norges Bank, also recently initiated or expanded positions.
• Analysts maintain a generally positive outlook, with Terreno Realty receiving a “Moderate Buy” consensus rating and an average price target of $73.29. Recent targets range from $60 to $75.
• Terreno Realty reported quarterly EPS of $0.54, surpassing the $0.41 consensus estimate, and raised its quarterly dividend from $0.52 to $0.57 per share, implying a 3.4% annualized yield.

Public Employees Retirement System of Ohio bought a new stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 122,697 shares of the real estate investment trust's stock, valued at approximately $7,947,000. Public Employees Retirement System of Ohio owned approximately 0.11% of Terreno Realty as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Terreno Realty in the 2nd quarter valued at $1,213,726,000. Principal Financial Group Inc. boosted its holdings in Terreno Realty by 246.6% during the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust's stock worth $257,257,000 after acquiring an additional 2,979,982 shares during the last quarter. Norges Bank purchased a new position in Terreno Realty during the 4th quarter worth $168,221,000. Legal & General Group Plc bought a new stake in shares of Terreno Realty in the 2nd quarter worth $61,764,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Terreno Realty in the 2nd quarter worth $53,869,000.

Insider Activity at Terreno Realty

In other Terreno Realty news, EVP John Tull Meyer sold 4,447 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the sale, the executive vice president directly owned 131,825 shares of the company's stock, valued at $9,048,468. This trade represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Michael A. Coke sold 8,000 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the completion of the sale, the president 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. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TRNO shares. Barclays raised their price target on shares of Terreno Realty from $60.00 to $69.00 and gave the company an "equal weight" rating in a research report on Thursday, July 16th. Robert W. Baird set a $69.00 price objective on shares of Terreno Realty in a research note on Friday, May 8th. KeyCorp lifted their target price on shares of Terreno Realty from $72.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Citigroup boosted their target price on Terreno Realty from $70.00 to $73.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Finally, Mizuho upped their target price on Terreno Realty from $56.00 to $60.00 and gave the company an "underperform" rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Terreno Realty has an average rating of "Moderate Buy" and an average target price of $73.29.

Terreno Realty Stock Performance

NYSE TRNO opened at $66.42 on Wednesday. The company has a market capitalization of $7.24 billion, a PE ratio of 17.81 and a beta of 1.03. 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 52-week low of $55.71 and a 52-week high of $78.94. The company has a 50-day simple moving average of $69.30 and a 200 day simple moving average of $66.33.

Terreno Realty (NYSE:TRNO - Get Free Report) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share 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 for the quarter, compared to analysts' expectations of $127.15 million. On average, research analysts predict that Terreno Realty Corporation will post 2.83 EPS for the current year.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a $0.57 dividend. The ex-dividend date is Wednesday, September 30th. This is a positive change from Terreno Realty's previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a yield of 3.4%. Terreno Realty's dividend payout ratio (DPR) is currently 55.76%.

Terreno Realty Company 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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