Terreno Realty Corporation $TRNO is Uniplan Investment Counsel Inc.'s 6th Largest Position

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. cut its position in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 506,680 shares of the real estate investment trust's stock after selling 35,350 shares during the quarter. Terreno Realty accounts for 3.1% of Uniplan Investment Counsel Inc.'s investment portfolio, 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 quarter.

A number of other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC increased its position in shares of Terreno Realty by 233.9% in the first quarter. Cerity Partners LLC now owns 19,194 shares of the real estate investment trust's stock valued at $1,213,000 after buying an additional 13,445 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Terreno Realty by 0.9% in the 1st quarter. New York State Teachers Retirement System now owns 22,900 shares of the real estate investment trust's stock worth $1,448,000 after buying an additional 200 shares in the last quarter. KBC Group NV grew its stake in Terreno Realty by 12.8% in the 1st quarter. KBC Group NV now owns 4,132 shares of the real estate investment trust's stock valued at $261,000 after acquiring an additional 470 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Terreno Realty in the 1st quarter valued at about $948,000. Finally, GAMMA Investing LLC increased its holdings in 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 valued at $78,000 after acquiring an additional 1,109 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have issued reports on TRNO shares. Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Wells Fargo & Company cut their price objective on Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Barclays reduced their target price on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 27th. The Goldman Sachs Group set a $64.00 price target on Terreno Realty and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Finally, KeyCorp reduced their price objective on Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, August 21st. Three 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 stock currently has a consensus rating of "Hold" and a consensus price target of $62.89.

Insider Buying and Selling at Terreno Realty

In related news, President Michael A. Coke sold 10,000 shares of Terreno Realty stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $53.96, for a total value of $539,600.00. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company's stock.

Terreno Realty Trading Down 0.1%

Terreno Realty stock traded down $0.03 during trading on Friday, reaching $58.67. The company had a trading volume of 290,304 shares, compared to its average volume of 903,473. Terreno Realty Corporation has a 12-month low of $48.18 and a 12-month high of $70.10. 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 price is $56.43 and its two-hundred day moving average price is $58.40. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.44 and a beta of 1.06.

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, September 29th. This is a positive change from Terreno Realty's previous quarterly dividend of $0.49. Terreno Realty's payout ratio is currently 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.