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

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings 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 buying an additional 378 shares in the last quarter. Blue Trust Inc. grew its holdings 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 buying an additional 655 shares in the last quarter. GAMMA Investing LLC grew its holdings in 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 in the last quarter. GF Fund Management CO. LTD. bought a new position in Terreno Realty in the 4th quarter worth approximately $104,000. Finally, Archer Investment Corp bought a new position in Terreno Realty in the 1st quarter worth approximately $160,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company decreased their price target on Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Barclays increased their price target on Terreno Realty from $56.00 to $57.00 and gave the company an "equal weight" rating in a research note on Monday. Wall Street Zen raised Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. KeyCorp decreased their price target on 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, The Goldman Sachs Group set a $64.00 price target on Terreno Realty and gave the company a "buy" rating in a research note on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $63.00.

Terreno Realty Stock Performance

Shares of NYSE:TRNO traded up $0.52 during midday trading on Wednesday, hitting $59.12. The company's stock had a trading volume of 74,886 shares, compared to its average volume of 898,597. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 2.48 and a beta of 1.06. The stock's 50 day simple moving average is $56.52 and its 200 day simple moving average is $58.15. Terreno Realty Corporation has a fifty-two week low of $48.18 and a fifty-two week high of $69.82. 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 announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.5%. 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. Terreno Realty's dividend payout ratio (DPR) is 77.78%.

Insiders Place Their Bets

In related news, President Michael A. Coke sold 10,000 shares of Terreno Realty 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 $22,253,913.40. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Terreno Realty Company 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.