UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in Terreno Realty Corporation $TRNO

Key Points

• UBS Asset Management increased its Terreno Realty stake by 19,261.3% in the second quarter, ending with 646,088 shares worth approximately $41.85 million, or 0.59% of the REIT.
• Terreno Realty reported quarterly EPS of $0.54, exceeding the $0.41 consensus estimate, while revenue of $124.71 million fell short of expectations. The company also raised its quarterly dividend to $0.57 per share, implying a 3.5% yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $73.29, compared with shares recently trading at $65.49.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 19,261.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 646,088 shares of the real estate investment trust's stock after purchasing an additional 642,751 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.59% of Terreno Realty worth $41,847,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Clearstead Trust LLC purchased a new stake in Terreno Realty during the second quarter worth about $28,000. EverSource Wealth Advisors LLC increased its holdings in Terreno Realty by 57.0% in the first quarter. EverSource Wealth Advisors LLC now owns 438 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 159 shares in the last quarter. Wiser Advisor Group LLC acquired a new stake in shares of Terreno Realty during the 3rd quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its position in shares of Terreno Realty by 304.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 465 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 350 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Terreno Realty by 52.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 498 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 172 shares in the last quarter.

Terreno Realty Trading Down 0.4%

Shares of Terreno Realty stock opened at $65.49 on Friday. Terreno Realty Corporation has a 1 year low of $55.92 and a 1 year high of $78.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50 day moving average price of $69.31 and a 200 day moving average price of $66.34. The company has a market capitalization of $7.14 billion, a P/E ratio of 17.56 and a beta of 1.02.

Terreno Realty (NYSE:TRNO - Get Free Report) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%.The firm had revenue of $124.71 million for the quarter, compared to analysts' expectations of $127.15 million. Sell-side analysts anticipate that Terreno Realty Corporation will post 2.83 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Terreno Realty's previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 30th. Terreno Realty's payout ratio is presently 55.76%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Raymond James Financial started coverage on Terreno Realty in a research note on Wednesday, June 17th. They issued an "underperform" rating for the company. Citigroup boosted their target price on Terreno Realty from $70.00 to $73.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. KeyCorp upped their target price on Terreno Realty from $72.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. Barclays raised their price target on Terreno Realty from $60.00 to $69.00 and gave the company an "equal weight" rating in a research report on Thursday, July 16th. Finally, Robert W. Baird set a $69.00 price target on Terreno Realty in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $73.29.

Insider Activity at Terreno Realty

In other news, EVP John Meyer sold 4,447 shares of Terreno Realty stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total value of $305,242.08. Following the completion of the sale, the executive vice president owned 131,825 shares of the company's stock, valued at $9,048,468. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael A. Coke sold 8,000 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $68.38, for a total value of $547,040.00. Following the completion of the transaction, the president owned 425,381 shares of the company's stock, valued at $29,087,552.78. The trade was a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is currently owned by insiders.

Terreno Realty Profile

Terreno Realty Corporation NYSE: TRNO is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company's portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.

Want to see what other hedge funds are holding TRNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terreno Realty Corporation (NYSE:TRNO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source