Vident Advisory LLC Sells 4,872 Shares of Terreno Realty Corporation $TRNO

Key Points

• Vident Advisory LLC has reduced its stake in Terreno Realty Corporation by 15% during the first quarter, selling 4,872 shares, leaving them with a total of 27,516 shares valued at approximately $1.74 million.
• Terreno Realty announced a quarterly dividend increase from $0.49 to $0.52 per share, reflecting a 3.7% yield, with the ex-dividend date set for September 29th.
• Recent analyst ratings for TRNO show a mix of upgrades and downgrades, with an average rating of "Hold" and a price target of $62.80, indicating varying outlooks among investment analysts.

Vident Advisory LLC lowered its stake in shares of Terreno Realty Corporation (NYSE:TRNO - Free Report) by 15.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,516 shares of the real estate investment trust's stock after selling 4,872 shares during the period. Vident Advisory LLC's holdings in Terreno Realty were worth $1,740,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TRNO. Blue Trust Inc. grew 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 valued at $70,000 after buying an additional 655 shares in the last quarter. State of Tennessee Department of Treasury purchased a new position in Terreno Realty in the 4th quarter valued at approximately $71,000. GAMMA Investing LLC grew its stake 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 valued at $78,000 after buying an additional 1,109 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Terreno Realty in the 4th quarter valued at approximately $104,000. Finally, Archer Investment Corp purchased a new position in Terreno Realty in the 1st quarter valued at approximately $160,000.

Insider Transactions at Terreno Realty

In related news, President Michael A. Coke sold 10,000 shares of the company'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 completion of the transaction, the president directly owned 412,415 shares in the company, valued at approximately $22,253,913.40. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TRNO shares. KeyCorp reduced their price objective 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. The Goldman Sachs Group set a $64.00 price objective on shares of Terreno Realty and gave the company a "buy" rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded shares of Terreno Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Barclays reduced their price objective 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. Finally, Wells Fargo & Company reduced their price target on shares of Terreno Realty from $63.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $62.89.

Terreno Realty Price Performance

Terreno Realty stock traded up $1.16 during midday trading on Friday, hitting $59.06. 1,014,833 shares of the company's stock were exchanged, compared to its average volume of 778,427. Terreno Realty Corporation has a 52-week low of $48.18 and a 52-week high of $70.10. The stock has a 50-day moving average price of $56.31 and a two-hundred day moving average price of $58.59. The company has a market cap of $6.10 billion, a P/E ratio of 23.44, a PEG ratio of 2.52 and a beta of 1.06. 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 business 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 $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.5%. This is a boost from Terreno Realty's previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 29th. Terreno Realty's dividend payout ratio (DPR) is presently 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.