Terreno Realty Corporation $TRNO Shares Acquired by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Terreno Realty Corporation by 2.4% in Q1, now owning 5.12% of the company, valued at approximately $333 million.
• Terreno Realty plans to pay a quarterly dividend of $0.52 per share on October 10th, which reflects an increase from its previous dividend of $0.49 and results in an annualized dividend yield of 3.7%.
• Current analyst ratings reveal a consensus "Hold" rating for Terreno Realty, with a price target of $64.00, while its share price as of Thursday stands at $55.64.

T. Rowe Price Investment Management Inc. lifted its holdings in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,271,442 shares of the real estate investment trust's stock after purchasing an additional 125,940 shares during the quarter. T. Rowe Price Investment Management Inc. owned 5.12% of Terreno Realty worth $333,261,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cerity Partners LLC grew its stake 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 worth $1,213,000 after purchasing an additional 13,445 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Terreno Realty by 0.9% in the first 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 purchasing an additional 200 shares in the last quarter. KBC Group NV grew its stake in shares of Terreno Realty by 12.8% in the first quarter. KBC Group NV now owns 4,132 shares of the real estate investment trust's stock worth $261,000 after purchasing an additional 470 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Terreno Realty in the first quarter worth $948,000. Finally, GAMMA Investing LLC grew its stake 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 Ratings Changes

Several research analysts have recently issued reports on the company. The Goldman Sachs Group set a $64.00 price target on Terreno Realty and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Barclays dropped their price objective 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. Wells Fargo & Company set a $72.00 price objective on Terreno Realty in a research note on Sunday, July 13th. Finally, Wall Street Zen raised Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $64.00.

Terreno Realty Stock Down 0.1%

Shares of Terreno Realty stock opened at $55.6430 on Thursday. The stock's fifty day moving average is $56.41 and its 200-day moving average is $59.42. The firm has a market capitalization of $5.75 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02. 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 Corporation has a 12-month low of $48.18 and a 12-month high of $71.63.

Terreno Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Terreno Realty's previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 29th. Terreno Realty's payout ratio is presently 77.78%.

Insider Activity

In other news, President Michael A. Coke sold 10,000 shares of the business's stock in a transaction 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 $22,253,913.40. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is owned by company insiders.

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.

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