Resolution Capital Ltd Purchases 192,268 Shares of 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 lifted its holdings in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 13.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,610,253 shares of the real estate investment trust's stock after acquiring an additional 192,268 shares during the quarter. Terreno Realty accounts for about 2.0% of Resolution Capital Ltd's holdings, making the stock its 16th biggest holding. Resolution Capital Ltd owned approximately 1.56% of Terreno Realty worth $101,800,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Nissay Asset Management Corp Japan ADV lifted its stake in Terreno Realty by 2.5% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 14,692 shares of the real estate investment trust's stock worth $929,000 after purchasing an additional 356 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Terreno Realty by 8.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,778 shares of the real estate investment trust's stock worth $3,716,000 after buying an additional 4,381 shares during the period. Amundi lifted its stake in shares of Terreno Realty by 9.3% in the 1st quarter. Amundi now owns 56,495 shares of the real estate investment trust's stock valued at $3,272,000 after acquiring an additional 4,785 shares during the last quarter. Royal Bank of Canada boosted its holdings in Terreno Realty by 1.0% during the 1st quarter. Royal Bank of Canada now owns 375,524 shares of the real estate investment trust's stock valued at $23,740,000 after acquiring an additional 3,862 shares during the period. Finally, Evergreen Capital Management LLC grew its position in Terreno Realty by 38.7% during the 1st quarter. Evergreen Capital Management LLC now owns 6,821 shares of the real estate investment trust's stock worth $431,000 after acquiring an additional 1,902 shares during the last quarter.

Terreno Realty Trading Up 2.3%

TRNO stock traded up $1.34 on Thursday, reaching $58.69. The company's stock had a trading volume of 781,932 shares, compared to its average volume of 907,123. The firm has a market cap of $6.06 billion, a PE ratio of 23.29, a PEG ratio of 2.46 and a beta of 1.06. The business has a fifty day simple moving average of $56.40 and a two-hundred day simple moving average of $58.46. 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.

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 paid 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 of this dividend 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 presently 77.78%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TRNO. Barclays decreased their price target 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 cut their target price on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Wall Street Zen upgraded shares of Terreno Realty from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. KeyCorp dropped their price target on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, August 21st. 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 report on Tuesday, August 12th. Three 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 presently has a consensus rating of "Hold" and an average target price of $62.89.

Insider Activity

In related news, President Michael A. Coke sold 10,000 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $53.96, for a total transaction of $539,600.00. Following the transaction, the president owned 412,415 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by corporate 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.