Resolution Capital Ltd Grows Stock Position in Terreno Realty Corporation $TRNO

Key Points

• Resolution Capital Ltd increased its stake in Terreno Realty Corporation ($TRNO) by 13.6%, owning approximately 1.61 million shares valued at $101.8 million as of the most recent SEC filing.
• Terreno Realty has recently announced an increase in its quarterly dividend to $0.52 per share, with a dividend yield of 3.5% and an ex-dividend date set for September 29th.
• Currently, Terreno Realty holds a consensus rating of "Hold" by analysts, with a target price of $62.89, reflecting recent adjustments in ratings by several brokerages.

Resolution Capital Ltd boosted its stake in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 13.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,610,253 shares of the real estate investment trust's stock after buying an additional 192,268 shares during the period. Terreno Realty makes up approximately 2.0% of Resolution Capital Ltd's holdings, making the stock its 16th largest holding. Resolution Capital Ltd owned approximately 1.56% of Terreno Realty worth $101,800,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TRNO. Blue Trust Inc. grew its position in Terreno Realty by 143.6% in the 1st quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 655 shares during the last quarter. GAMMA Investing LLC grew its position in Terreno Realty by 840.2% in 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 during the last quarter. GF Fund Management CO. LTD. bought a new position in Terreno Realty in the 4th quarter valued at $104,000. Archer Investment Corp bought a new position in Terreno Realty in the 1st quarter valued at $160,000. Finally, Portside Wealth Group LLC bought a new position in Terreno Realty in the 1st quarter valued at $202,000.

Insiders Place Their Bets

In related news, President Michael A. Coke sold 10,000 shares of the firm's stock in a transaction dated 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 owned 412,415 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on TRNO. KeyCorp cut 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. Wall Street Zen raised Terreno Realty from a "sell" rating to a "hold" rating in a research 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 on the stock in a research report on Wednesday, August 27th. Barclays dropped their price target on 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 Terreno Realty and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Terreno Realty currently has a consensus rating of "Hold" and a consensus price target of $62.89.

Terreno Realty Stock Down 1.9%

TRNO stock traded down $1.09 during trading on Tuesday, reaching $57.65. 470,417 shares of the company traded hands, compared to its average volume of 779,298. Terreno Realty Corporation has a 12 month low of $48.18 and a 12 month high of $70.10. The business has a 50 day simple moving average of $56.38 and a 200 day simple moving average of $58.47. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 2.50 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.75 and a current ratio of 1.75.

Terreno Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, September 29th. This is an increase from Terreno Realty's previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. Terreno Realty's dividend payout ratio is 77.78%.

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.