112,800 Shares in Terreno Realty Corporation $TRNO Bought by Strs Ohio

Key Points

• Strs Ohio has acquired a new stake in Terreno Realty Corporation, purchasing 112,800 shares valued at approximately $7.13 million in the first quarter.
• Terreno Realty announced an increase in its quarterly dividend from $0.49 to $0.52 per share, reflecting a commitment to returning capital to shareholders.
• Several hedge funds have significantly increased their positions in Terreno Realty, with GAMMA Investing LLC reporting an 840.2% increase in its stake during the same quarter.

Strs Ohio bought a new position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 112,800 shares of the real estate investment trust's stock, valued at approximately $7,131,000. Strs Ohio owned 0.11% of Terreno Realty as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings in shares of Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 350 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Terreno Realty by 90.2% during the 1st quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 378 shares during the period. Blue Trust Inc. grew its holdings in shares of Terreno Realty by 143.6% during the 1st quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock worth $70,000 after purchasing an additional 655 shares during the period. GAMMA Investing LLC grew its holdings in shares of Terreno Realty by 840.2% during the 1st 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 during the period. Finally, GF Fund Management CO. LTD. purchased a new position in Terreno Realty in the 4th quarter worth approximately $104,000.

Terreno Realty Stock Down 0.2%

Shares of TRNO traded down $0.09 during trading on Friday, reaching $58.52. The company's stock had a trading volume of 1,637,274 shares, compared to its average volume of 717,976. The company has a fifty day moving average of $56.59 and a two-hundred day moving average of $58.03. Terreno Realty Corporation has a twelve month low of $48.18 and a twelve month high of $69.82. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 2.50 and a beta of 1.06. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.20.

Terreno Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. This is an increase from Terreno Realty's previous quarterly dividend of $0.49. Terreno Realty's dividend payout ratio is currently 77.78%.

Analyst Ratings Changes

A number of research firms have weighed in on TRNO. Wells Fargo & Company decreased their price target on Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Piper Sandler upped their price target on Terreno Realty from $58.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday. KeyCorp decreased their price target on Terreno Realty from $70.00 to $64.00 and set an "overweight" rating for the company in a report on Thursday, August 21st. Barclays upped their price target on Terreno Realty from $56.00 to $57.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, The Goldman Sachs Group set a $64.00 price target on Terreno Realty and gave the stock a "buy" rating in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $63.00.

Insider Activity

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

Terreno Realty Company 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.