State of Alaska Department of Revenue Purchases 7,922 Shares of Terreno Realty Corporation $TRNO

Key Points

• The State of Alaska Department of Revenue increased its stake in Terreno Realty Corporation by 7.7%, now holding 111,078 shares worth $6.23 million after purchasing an additional 7,922 shares.
• Terreno Realty has announced a quarterly dividend increase to $0.52 per share, with a payout ratio of 77.78%, representing an annualized yield of 3.6%.
• Analyst ratings for Terreno Realty show a mix, with several firms setting a price target around $64, while three analysts rated the stock as a "Buy" and six advised a "Hold."

State of Alaska Department of Revenue lifted its position in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 7.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 111,078 shares of the real estate investment trust's stock after buying an additional 7,922 shares during the period. State of Alaska Department of Revenue owned about 0.11% of Terreno Realty worth $6,226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TRNO. Cetera Investment Advisers lifted its stake in shares of Terreno Realty by 9.9% in the fourth quarter. Cetera Investment Advisers now owns 4,235 shares of the real estate investment trust's stock worth $250,000 after buying an additional 383 shares in the last quarter. Mackenzie Financial Corp lifted its position in Terreno Realty by 44.2% during the fourth quarter. Mackenzie Financial Corp now owns 6,532 shares of the real estate investment trust's stock valued at $386,000 after purchasing an additional 2,001 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Terreno Realty by 20.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,916 shares of the real estate investment trust's stock valued at $350,000 after purchasing an additional 988 shares during the period. Moody National Bank Trust Division lifted its position in Terreno Realty by 3.5% during the first quarter. Moody National Bank Trust Division now owns 10,151 shares of the real estate investment trust's stock valued at $642,000 after purchasing an additional 343 shares during the period. Finally, GAMMA Investing LLC lifted its position in Terreno Realty by 59,336.4% during the first quarter. GAMMA Investing LLC now owns 78,456 shares of the real estate investment trust's stock valued at $4,960,000 after purchasing an additional 78,324 shares during the period.

Terreno Realty Stock Up 0.4%

Shares of TRNO stock opened at $57.64 on Monday. Terreno Realty Corporation has a 12 month low of $48.18 and a 12 month high of $69.20. The stock has a market cap of $5.95 billion, a P/E ratio of 22.87, a P/E/G ratio of 2.46 and a beta of 1.06. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.20. The company has a 50 day simple moving average of $56.69 and a two-hundred day simple moving average of $57.56.

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 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 yield of 3.6%. The ex-dividend date of this dividend is Monday, September 29th. Terreno Realty's dividend payout ratio is currently 77.78%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group set a $64.00 price objective on shares of Terreno Realty and gave the company a "buy" rating in a research report on Tuesday, August 12th. KeyCorp lowered their price objective on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, August 21st. Barclays increased their price objective on shares of Terreno Realty from $56.00 to $57.00 and gave the company an "equal weight" rating in a research report on Monday, September 15th. Wells Fargo & Company lowered their price objective on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 27th. Finally, Piper Sandler increased their price objective on shares of Terreno Realty from $58.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, September 18th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Terreno Realty presently has an average rating of "Hold" and an average target price of $63.00.

Insider Activity

In other news, President Michael A. Coke sold 10,000 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the sale, the president directly owned 412,415 shares of the company's stock, valued at $22,253,913.40. This represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.

About Terreno Realty

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.

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