United Services Automobile Association Purchases New Holdings in Terreno Realty Corporation $TRNO

Key Points

• United Services Automobile Association has invested approximately $407,000 in Terreno Realty Corporation, acquiring 6,489 shares in the first quarter.
• Terreno Realty recently declared a quarterly dividend increase from $0.49 to $0.52 per share, with an annualized dividend yield of 3.5%.
• Insider trading activity included President Michael A. Coke selling 10,000 shares for a total of $539,600, resulting in a decrease of his position by 2.37%.

United Services Automobile Association bought a new position in Terreno Realty Corporation (NYSE:TRNO - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 6,489 shares of the real estate investment trust's stock, valued at approximately $407,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in Terreno Realty by 90.2% in the 1st quarter. Jones Financial Companies Lllp now owns 797 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 378 shares in the last quarter. Blue Trust Inc. lifted its stake in Terreno Realty by 143.6% in the 1st quarter. Blue Trust Inc. now owns 1,111 shares of the real estate investment trust's stock worth $70,000 after purchasing an additional 655 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 worth $78,000 after buying an additional 1,109 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Terreno Realty in the 4th quarter worth $104,000. Finally, Archer Investment Corp bought a new position in shares of Terreno Realty in the 1st quarter worth $160,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company decreased their price target 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. Barclays increased their price target on shares of Terreno Realty from $56.00 to $57.00 and gave the stock an "equal weight" rating in a report on Monday. 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. KeyCorp decreased their price target on shares of Terreno Realty from $70.00 to $64.00 and set an "overweight" rating on the stock in a report on Thursday, August 21st. Finally, Wall Street Zen raised shares of Terreno Realty from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $63.00.

Terreno Realty Trading Down 0.4%

NYSE:TRNO traded down $0.25 during trading hours on Monday, reaching $58.31. The company's stock had a trading volume of 677,031 shares, compared to its average volume of 904,312. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 2.49 and a beta of 1.06. The firm has a 50-day simple moving average of $56.46 and a 200-day simple moving average of $58.22. Terreno Realty Corporation has a 1 year low of $48.18 and a 1 year 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 company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be issued a $0.52 dividend. This is a boost 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 dividend on an annualized basis and a yield of 3.6%. Terreno Realty's payout ratio is 82.54%.

Insider Transactions at Terreno Realty

In other Terreno Realty news, President Michael A. Coke sold 10,000 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the sale, the president owned 412,415 shares of the company's stock, valued at $22,253,913.40. This trade represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by company insiders.

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.