Cramer Rosenthal Mcglynn LLC Has $25.98 Million Stock Holdings in Terreno Realty Corporation $TRNO

Key Points

• Cramer Rosenthal Mcglynn LLC reduced its holdings in Terreno Realty Corporation by 22.0%, now owning 410,888 shares valued at approximately $25.98 million.
• The company has increased its quarterly dividend from $0.49 to $0.52 per share, equating to an annualized yield of 3.6%.
• Analysts are divided on the stock, with a current consensus rating of "Hold" and a target price averaging $64.00.

Cramer Rosenthal Mcglynn LLC trimmed its stake in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 22.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 410,888 shares of the real estate investment trust's stock after selling 115,701 shares during the quarter. Terreno Realty accounts for 1.9% of Cramer Rosenthal Mcglynn LLC's portfolio, making the stock its 17th largest holding. Cramer Rosenthal Mcglynn LLC owned approximately 0.40% of Terreno Realty worth $25,976,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TRNO. Quarry LP lifted its position in shares of Terreno Realty by 613.7% during the 4th quarter. Quarry LP now owns 728 shares of the real estate investment trust's stock worth $43,000 after buying an additional 626 shares during the period. Blue Trust Inc. raised its stake in Terreno Realty by 143.6% during the first quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 655 shares in the last quarter. State of Tennessee Department of Treasury bought a new position in shares of Terreno Realty during the fourth quarter valued at $71,000. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 1,109 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Terreno Realty in the 4th quarter valued at $104,000.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TRNO. Wall Street Zen upgraded shares of Terreno Realty from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. The Goldman Sachs Group set a $64.00 price objective on shares of Terreno Realty and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Wells Fargo & Company cut their target price on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday. KeyCorp cut their target price on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday, August 21st. Finally, Barclays cut their target price on shares of Terreno Realty from $57.00 to $56.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 27th. Three investment 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $62.80.

Insider Activity at Terreno Realty

In other 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 completion of the sale, the president directly owned 412,415 shares of the company's stock, valued at approximately $22,253,913.40. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.40% of the company's stock.

Terreno Realty Trading Down 0.3%

NYSE:TRNO traded down $0.20 during trading hours on Thursday, hitting $57.62. 697,817 shares of the stock were exchanged, compared to its average volume of 848,858. The company has a market capitalization of $5.95 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 2.46 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. The company's 50 day moving average is $56.27 and its two-hundred day moving average is $59.03. Terreno Realty Corporation has a twelve month low of $48.18 and a twelve month high of $70.10.

Terreno Realty Increases Dividend

The company 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 $0.52 dividend. This is an increase from Terreno Realty's previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. Terreno Realty's payout ratio is 77.78%.

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.