Public Sector Pension Investment Board Buys 67,881 Shares of Terreno Realty Corporation (NYSE:TRNO)

Key Points

• The Public Sector Pension Investment Board has increased its stake in Terreno Realty Corporation (NYSE:TRNO) by 27.3%, bringing its total shares to 316,381 valued at approximately $20 million.
• Terreno Realty has announced a quarterly dividend increase to $0.52 per share, indicating a positive change from the previous dividend and representing an annual yield of 3.9%.
• Analysts maintain a consensus rating of "Hold" on the stock, with target prices ranging from $56.00 to $72.00.

Public Sector Pension Investment Board boosted its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 27.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,381 shares of the real estate investment trust's stock after acquiring an additional 67,881 shares during the period. Public Sector Pension Investment Board owned 0.31% of Terreno Realty worth $20,002,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Quarry LP boosted its position in shares of Terreno Realty by 613.7% during the 4th 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. boosted its holdings 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 worth $70,000 after buying an additional 655 shares during the period. State of Tennessee Department of Treasury purchased a new stake in shares of Terreno Realty in the fourth quarter worth approximately $71,000. FIL Ltd lifted 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 worth $72,000 after purchasing an additional 378 shares in the last quarter. Finally, GAMMA Investing LLC lifted 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 worth $78,000 after purchasing an additional 1,109 shares in the last quarter.

Insider Activity at Terreno Realty

In related 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 value of $539,600.00. Following the completion of the sale, the president owned 412,415 shares of the company's stock, valued at $22,253,913.40. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.40% of the company's stock.

Terreno Realty Trading Up 0.1%

TRNO stock traded up $0.06 during trading on Friday, hitting $54.19. 865,059 shares of the company traded hands, compared to its average volume of 920,338. Terreno Realty Corporation has a 1 year low of $48.18 and a 1 year high of $71.63. 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 company has a 50-day moving average of $56.79 and a 200-day moving average of $59.72. The firm has a market capitalization of $5.60 billion, a PE ratio of 21.50, a P/E/G ratio of 2.32 and a beta of 1.02.

Terreno Realty Increases Dividend

The firm 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. 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. This is a positive change from Terreno Realty's previous quarterly dividend of $0.49. Terreno Realty's dividend payout ratio is 77.78%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TRNO shares. Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Barclays decreased their price target on shares of Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 27th. 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. Finally, Wells Fargo & Company set a $72.00 price target on Terreno Realty in a research note on Sunday, July 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Terreno Realty currently has an average rating of "Hold" and an average price target of $64.60.

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.