Vanguard Group Inc. Buys 34,934 Shares of Terreno Realty Corporation (NYSE:TRNO)

Key Points

• Vanguard Group Inc. increased its ownership in Terreno Realty Corporation by 0.2%, holding approximately 14.84% of the company, valued at nearly $967 million.
• Analysts have lowered their target prices for Terreno Realty, with Wells Fargo setting a price target of $72.00 while maintaining a "hold" rating.
• Terreno Realty has announced a quarterly dividend increase to $0.52 per share, reflecting an annual yield of 3.9%, marking an increase from its previous dividend of $0.49.

Vanguard Group Inc. grew its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 0.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,291,834 shares of the real estate investment trust's stock after acquiring an additional 34,934 shares during the period. Vanguard Group Inc. owned 14.84% of Terreno Realty worth $966,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quarry LP grew its position in shares of Terreno Realty by 613.7% during the 4th quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock worth $43,000 after buying an additional 626 shares during the period. Blue Trust Inc. boosted its holdings in shares of Terreno Realty by 143.6% in the first quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock valued at $70,000 after buying an additional 655 shares during the period. State of Tennessee Department of Treasury bought a new stake in shares of Terreno Realty in the fourth quarter worth $71,000. FIL Ltd lifted its position in shares of Terreno Realty by 45.3% in the fourth quarter. FIL Ltd now owns 1,213 shares of the real estate investment trust's stock worth $72,000 after purchasing an additional 378 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position 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 worth $78,000 after purchasing an additional 1,109 shares in the last quarter.

Analyst Upgrades and Downgrades

TRNO has been the topic of several analyst reports. Wells Fargo & Company set a $72.00 price target on shares of Terreno Realty in a research report on Sunday, July 13th. Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Barclays dropped their price target 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. Finally, The Goldman Sachs Group set a $64.00 price target on shares of Terreno Realty and gave the stock a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $64.60.

Terreno Realty Stock Performance

Shares of TRNO stock traded up $0.25 on Friday, hitting $54.38. The company's stock had a trading volume of 339,609 shares, compared to its average volume of 919,481. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75. The stock's 50 day moving average is $56.79 and its 200-day moving average is $59.72. Terreno Realty Corporation has a fifty-two week low of $48.18 and a fifty-two week high of $71.63. The company has a market capitalization of $5.62 billion, a PE ratio of 21.58, a PEG ratio of 2.32 and a beta of 1.02.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.8%. This is a boost from Terreno Realty's previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 29th. Terreno Realty's dividend payout ratio is currently 77.78%.

Insider Activity at Terreno Realty

In related news, President Michael A. Coke sold 10,000 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the transaction, the president directly owned 412,415 shares in the company, valued at approximately $22,253,913.40. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.