NFJ Investment Group LLC Trims Stock Position in Terreno Realty Corporation $TRNO

Key Points

• NFJ Investment Group LLC reduced its stake in Terreno Realty Corporation by 51.5% in the first quarter, owning approximately 102,195 shares valued at $6.46 million following the sale of 108,535 shares.
• The company's president, Michael A. Coke, sold 10,000 shares at an average price of $53.96, resulting in a total value of approximately $539,600 and a 2.37% decrease in his overall position.
• Terreno Realty announced an increase in its quarterly dividend to $0.52 per share, representing a 3.5% yield, with the ex-dividend date set for September 29th.

NFJ Investment Group LLC lowered its position in Terreno Realty Corporation (NYSE:TRNO - Free Report) by 51.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 102,195 shares of the real estate investment trust's stock after selling 108,535 shares during the period. NFJ Investment Group LLC owned 0.10% of Terreno Realty worth $6,461,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TRNO. Blue Trust Inc. increased its position in Terreno Realty by 143.6% during the 1st quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock valued at $70,000 after buying an additional 655 shares in the last quarter. GAMMA Investing LLC increased its position in Terreno Realty by 840.2% during the 1st quarter. GAMMA Investing LLC now owns 1,241 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 1,109 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Terreno Realty during the 4th quarter valued at approximately $104,000. Archer Investment Corp bought a new position in Terreno Realty during the 1st quarter valued at approximately $160,000. Finally, Portside Wealth Group LLC bought a new position in Terreno Realty during the 1st quarter valued at approximately $202,000.

Terreno Realty Trading Up 1.4%

Shares of TRNO traded up $0.82 during mid-day trading on Thursday, reaching $58.17. 217,386 shares of the company's stock traded hands, compared to its average volume of 903,762. The stock has a market cap of $6.01 billion, a P/E ratio of 23.09, a P/E/G ratio of 2.46 and a beta of 1.06. The stock's 50-day moving average is $56.40 and its two-hundred day moving average is $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 current ratio of 1.75 and a quick ratio of 1.75.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be paid a $0.52 dividend. This is a positive change from Terreno Realty's previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 29th. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. Terreno Realty's dividend payout ratio (DPR) is 77.78%.

Insiders Place Their Bets

In other Terreno Realty news, President Michael A. Coke sold 10,000 shares of the 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. The Goldman Sachs Group set a $64.00 price objective on Terreno Realty and gave the company a "buy" rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Barclays cut their target price 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 Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. Finally, KeyCorp cut their target price on Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a research note on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $62.89.

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.