Susquehanna International Group LLP Sells 26,691 Shares of Terreno Realty Corporation $TRNO

Key Points

• Susquehanna International Group cut its Terreno Realty stake by 70.9%, selling 26,691 shares and retaining 10,950 shares worth approximately $709,000. Other major institutions, including BlackRock, State Street and Principal Financial, increased or initiated positions.
• Terreno Realty reported quarterly EPS of $0.54, exceeding the $0.41 consensus estimate, though revenue of $124.71 million fell short of expectations. The stock opened at $66.14, down 0.7%.
• The REIT raised its quarterly dividend from $0.52 to $0.57 per share, implying an annualized dividend of $2.28 and a 3.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $72.86.

Susquehanna International Group LLP decreased its holdings in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 70.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,950 shares of the real estate investment trust's stock after selling 26,691 shares during the period. Susquehanna International Group LLP's holdings in Terreno Realty were worth $709,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. bought a new stake in Terreno Realty during the 2nd quarter valued at $1,213,726,000. State Street Corp boosted its position in shares of Terreno Realty by 4.0% in the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust's stock valued at $336,139,000 after acquiring an additional 230,444 shares during the period. Principal Financial Group Inc. lifted its stake in Terreno Realty by 246.6% in the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust's stock worth $257,257,000 after purchasing an additional 2,979,982 shares in the last quarter. Norges Bank bought a new position in Terreno Realty in the 4th quarter worth about $168,221,000. Finally, Geode Capital Management LLC boosted its position in shares of Terreno Realty by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust's stock valued at $159,620,000 after acquiring an additional 17,921 shares during the last quarter.

Terreno Realty Stock Down 0.7%

NYSE TRNO opened at $66.14 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $7.21 billion, a PE ratio of 17.73 and a beta of 1.03. The business's 50-day moving average is $69.28 and its 200 day moving average is $66.32. Terreno Realty Corporation has a 1 year low of $55.71 and a 1 year high of $78.94.

Terreno Realty (NYSE:TRNO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. The business had revenue of $124.71 million during the quarter, compared to analyst estimates of $127.15 million. Sell-side analysts forecast that Terreno Realty Corporation will post 2.82 earnings per share for the current year.

Terreno Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.57 per share. The ex-dividend date is Wednesday, September 30th. This is a positive change from Terreno Realty's previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 3.4%. Terreno Realty's dividend payout ratio (DPR) is 55.76%.

Insider Buying and Selling at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 8,000 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $68.38, for a total value of $547,040.00. Following the sale, the president directly owned 425,381 shares of the company's stock, valued at approximately $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Tull Meyer sold 4,447 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total transaction of $305,242.08. Following the sale, the executive vice president owned 131,825 shares of the company's stock, valued at approximately $9,048,468. This represents a 3.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TRNO. Raymond James Financial assumed coverage on shares of Terreno Realty in a research report on Wednesday, June 17th. They set an "underperform" rating for the company. Scotiabank upped their target price on shares of Terreno Realty from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. Mizuho increased their target price on Terreno Realty from $56.00 to $60.00 and gave the company an "underperform" rating in a research note on Wednesday, August 19th. UBS Group set a $68.00 price target on Terreno Realty in a research report on Thursday, June 18th. Finally, Robert W. Baird set a $69.00 price target on Terreno Realty in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $72.86.

About Terreno Realty

Terreno Realty Corporation NYSE: TRNO is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company's portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.

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