Russell Investments Group Ltd. Boosts Position in Terreno Realty Corporation $TRNO

Key Points

• Russell Investments Group Ltd. increased its holdings in Terreno Realty Corporation by 1.3%, owning approximately 526,864 shares valued at about $33.3 million.
• The quarterly dividend of $0.52 per share will be paid on October 10th, reflecting a positive change from the previous $0.49, yielding 3.8% annually.
• Several analysts gave Terreno Realty mixed reviews, with a consensus rating of "Hold" and an average target price of $64.60, highlighting varying market perspectives on the stock's performance.

Russell Investments Group Ltd. grew its position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 526,864 shares of the real estate investment trust's stock after buying an additional 6,677 shares during the quarter. Russell Investments Group Ltd. owned 0.51% of Terreno Realty worth $33,308,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LPL Financial LLC boosted its stake in Terreno Realty by 10.9% during the 4th quarter. LPL Financial LLC now owns 19,293 shares of the real estate investment trust's stock valued at $1,141,000 after purchasing an additional 1,903 shares during the last quarter. Bank of Montreal Can grew its holdings in Terreno Realty by 74.1% during the fourth quarter. Bank of Montreal Can now owns 25,885 shares of the real estate investment trust's stock valued at $1,531,000 after purchasing an additional 11,016 shares during the period. Renaissance Technologies LLC purchased a new stake in Terreno Realty in the fourth quarter worth about $1,047,000. Raymond James Financial Inc. bought a new position in shares of Terreno Realty in the fourth quarter worth about $19,792,000. Finally, Sterling Capital Management LLC lifted its position in shares of Terreno Realty by 837.0% during the 4th quarter. Sterling Capital Management LLC now owns 3,064 shares of the real estate investment trust's stock valued at $181,000 after buying an additional 2,737 shares in the last quarter.

Terreno Realty Trading Down 0.9%

Shares of TRNO stock traded down $0.50 during trading hours on Monday, reaching $53.70. 272,773 shares of the stock were exchanged, compared to its average volume of 918,721. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. Terreno Realty Corporation has a 12-month low of $48.18 and a 12-month high of $71.63. The company's 50-day moving average price is $56.70 and its 200-day moving average price is $59.56. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders 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 3.9%. Terreno Realty's dividend payout ratio (DPR) is currently 77.78%.

Insider Buying and Selling at Terreno Realty

In related news, President Michael A. Coke sold 10,000 shares of the firm's stock in a transaction that occurred 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 directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TRNO. Wells Fargo & Company set a $72.00 target price on shares of Terreno Realty in a report on Sunday, July 13th. The Goldman Sachs Group set a $64.00 price target 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. Finally, Barclays decreased their target price on shares of Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Terreno Realty currently has an average rating of "Hold" and a consensus target price of $64.00.

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.