American Century Companies Inc. Trims Holdings in Terreno Realty Corporation $TRNO

Key Points

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American Century Companies Inc. reduced its holdings in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 14.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,607,872 shares of the real estate investment trust's stock after selling 267,601 shares during the period. American Century Companies Inc. owned approximately 1.56% of Terreno Realty worth $101,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Aberdeen Group plc increased its position in Terreno Realty by 29.0% during the 1st quarter. Aberdeen Group plc now owns 419,639 shares of the real estate investment trust's stock valued at $26,530,000 after buying an additional 94,305 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its holdings in shares of Terreno Realty by 37.1% in the first quarter. Vestmark Advisory Solutions Inc. now owns 23,002 shares of the real estate investment trust's stock valued at $1,454,000 after purchasing an additional 6,227 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Terreno Realty by 1.3% in the first quarter. Russell Investments Group Ltd. now owns 526,864 shares of the real estate investment trust's stock valued at $33,308,000 after purchasing an additional 6,677 shares during the period. Resona Asset Management Co. Ltd. increased its holdings in shares of Terreno Realty by 8.9% in the first quarter. Resona Asset Management Co. Ltd. now owns 43,338 shares of the real estate investment trust's stock valued at $2,720,000 after purchasing an additional 3,532 shares during the period. Finally, HighTower Advisors LLC increased its holdings in shares of Terreno Realty by 69.8% in the first quarter. HighTower Advisors LLC now owns 6,229 shares of the real estate investment trust's stock valued at $394,000 after purchasing an additional 2,560 shares during the period.

Wall Street Analysts Forecast Growth

TRNO has been the topic of a number of research reports. Barclays cut their price objective on Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 27th. Wells Fargo & Company set a $72.00 target price on Terreno Realty in a report on Sunday, July 13th. The Goldman Sachs Group set a $64.00 target price on Terreno Realty and gave the stock a "buy" rating in a report on Tuesday, August 12th. Wall Street Zen raised Terreno Realty from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, KeyCorp dropped their target price on Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $64.00.

Insider Buying and Selling at Terreno Realty

In other news, President Michael A. Coke sold 10,000 shares of the firm's stock in a transaction that occurred 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 $22,253,913.40. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by company insiders.

Terreno Realty Price Performance

TRNO stock traded up $2.4140 during mid-day trading on Friday, reaching $57.7740. 1,074,144 shares of the company's stock were exchanged, compared to its average volume of 779,404. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02. The stock's 50 day moving average is $56.31 and its 200 day moving average is $59.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.75 and a quick ratio of 1.75. Terreno Realty Corporation has a 12-month low of $48.18 and a 12-month high of $71.63.

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be given a dividend of $0.52 per share. 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%. The ex-dividend date is Monday, September 29th. Terreno Realty's dividend payout ratio (DPR) is currently 77.78%.

About Terreno Realty

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.