Stephens Inc. AR Raises Position in Terreno Realty Corporation $TRNO

Key Points

• Stephens Inc. AR increased its stake in Terreno Realty Corporation by 18.3%, owning 42,503 shares valued at approximately $2.38 million after acquiring an additional 6,575 shares.
• Terreno Realty's dividend increased to $0.52 per share, up from $0.49, reflecting a 3.4% yield with a payout ratio of 82.54%.
• Several analysts have rated Terreno Realty stock with a consensus price target of $65.00, with mixed sentiments as some firms lowered their target prices and others maintained existing ratings.

Stephens Inc. AR lifted its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 18.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,503 shares of the real estate investment trust's stock after purchasing an additional 6,575 shares during the period. Stephens Inc. AR's holdings in Terreno Realty were worth $2,383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geneos Wealth Management Inc. raised its position in shares of Terreno Realty by 304.3% in the first quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 350 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Terreno Realty by 90.2% during the first quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust's stock worth $50,000 after buying an additional 378 shares during the period. CWM LLC grew its stake in Terreno Realty by 26.5% during the second quarter. CWM LLC now owns 1,171 shares of the real estate investment trust's stock worth $66,000 after buying an additional 245 shares during the period. Blue Trust Inc. grew its stake in Terreno Realty by 143.6% during 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. Finally, GAMMA Investing LLC boosted its stake 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 valued at $78,000 after purchasing an additional 1,109 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Terreno Realty in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their target price on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. KeyCorp lowered their price target on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, August 21st. Barclays increased their target price 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. Finally, Piper Sandler increased their target price 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. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $65.00.

Insider Activity

In other news, President Michael A. Coke sold 10,000 shares of the firm's 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 sale, the president owned 412,415 shares in the company, valued at approximately $22,253,913.40. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company's stock.

Terreno Realty Trading Down 0.7%

Shares of NYSE:TRNO opened at $61.12 on Thursday. The stock has a market capitalization of $6.31 billion, a PE ratio of 24.25, a P/E/G ratio of 2.65 and a beta of 1.04. Terreno Realty Corporation has a 1 year low of $48.18 and a 1 year high of $69.20. The firm has a fifty day moving average price of $57.80 and a 200 day moving average price of $57.04. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 29th were paid a $0.52 dividend. The ex-dividend date was 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 3.4%. Terreno Realty's dividend payout ratio is 82.54%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.