Terreno Realty Corporation $TRNO Shares Sold by Uniplan Investment Counsel Inc.

Key Points

• Uniplan Investment Counsel Inc. reduced its stake in Terreno Realty Corporation by 6.5%, making it their 6th largest position, holding approximately 506,680 shares worth $32 million as of the latest SEC filing.
• Terreno Realty recently increased its quarterly dividend from $0.49 to $0.52 per share, reflecting a 3.5% dividend yield, with the dividend payout expected on October 10th.
• Several analysts have adjusted their price targets for TRNO, with Barclays and Wells Fargo lowering theirs to $56.00 and $60.00 respectively, while Goldman Sachs maintains a buy rating with a target of $64.00.

Uniplan Investment Counsel Inc. lessened its stake in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 506,680 shares of the real estate investment trust's stock after selling 35,350 shares during the quarter. Terreno Realty comprises approximately 3.1% of Uniplan Investment Counsel Inc.'s holdings, making the stock its 6th biggest holding. Uniplan Investment Counsel Inc. owned approximately 0.49% of Terreno Realty worth $32,032,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new position in Terreno Realty in the first quarter valued at about $83,095,000. Deutsche Bank AG grew its stake in shares of Terreno Realty by 287.6% in the fourth quarter. Deutsche Bank AG now owns 1,546,406 shares of the real estate investment trust's stock valued at $91,454,000 after buying an additional 1,147,404 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Terreno Realty by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,158,754 shares of the real estate investment trust's stock valued at $262,918,000 after buying an additional 523,950 shares during the period. Ameriprise Financial Inc. lifted its position in Terreno Realty by 269.2% during the 4th quarter. Ameriprise Financial Inc. now owns 293,038 shares of the real estate investment trust's stock worth $17,331,000 after acquiring an additional 213,676 shares in the last quarter. Finally, Resolution Capital Ltd boosted its holdings in Terreno Realty by 13.6% in the 1st quarter. Resolution Capital Ltd now owns 1,610,253 shares of the real estate investment trust's stock worth $101,800,000 after acquiring an additional 192,268 shares during the period.

Insider Buying and Selling at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 10,000 shares of the firm'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 completion of the transaction, the president directly owned 412,415 shares in the company, valued at $22,253,913.40. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. KeyCorp dropped their price objective on Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a report on Thursday, August 21st. Wells Fargo & Company dropped their price target on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. 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 note on Tuesday, August 12th. Finally, Barclays dropped their target price on shares of Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 27th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $62.89.

Terreno Realty Stock Performance

TRNO stock traded down $0.38 on Wednesday, reaching $57.32. The company's stock had a trading volume of 523,599 shares, compared to its average volume of 907,862. Terreno Realty Corporation has a 52 week low of $48.18 and a 52 week high of $70.10. The firm has a fifty day moving average of $56.40 and a two-hundred day moving average of $58.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market capitalization of $5.92 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 2.50 and a beta of 1.06.

Terreno Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be paid 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 a boost from Terreno Realty's previous quarterly dividend of $0.49. Terreno Realty's dividend payout ratio is 77.78%.

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.