John Tull Meyer Sells 4,447 Shares of Terreno Realty (NYSE:TRNO) Stock

Key Points

• Terreno Realty EVP John Tull Meyer sold 4,447 shares at an average price of $68.64, generating approximately $305,242. He retained 131,825 shares after the transaction.
• Terreno Realty reported quarterly EPS of $0.54, exceeding analyst expectations of $0.41, while revenue of $124.71 million fell short of estimates. The REIT also increased its quarterly dividend to $0.57 per share, implying a 3.3% annual yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $71.93, while shares recently traded near $68.36.

Terreno Realty Corporation (NYSE:TRNO - Get Free Report) EVP John Tull Meyer sold 4,447 shares of Terreno Realty stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $68.64, for a total transaction of $305,242.08. Following the completion of the transaction, the executive vice president owned 131,825 shares of the company's stock, valued at $9,048,468. This represents a 3.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Terreno Realty Price Performance

NYSE TRNO remained flat at $68.36 on Tuesday. 789,954 shares of the company's stock traded hands, compared to its average volume of 768,542. Terreno Realty Corporation has a 12 month low of $53.10 and a 12 month high of $78.94. The firm has a fifty day simple moving average of $68.52 and a 200-day simple moving average of $65.82. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.45 billion, a P/E ratio of 18.33 and a beta of 1.03.

Terreno Realty (NYSE:TRNO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. The business had revenue of $124.71 million for the quarter, compared to analyst estimates of $127.15 million. Terreno Realty had a net margin of 77.22% and a return on equity of 9.21%. As a group, equities research analysts predict that Terreno Realty Corporation will post 2.82 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.28 annualized dividend and a dividend yield of 3.3%. This is an increase from Terreno Realty's previous quarterly dividend of $0.52. Terreno Realty's payout ratio is currently 55.76%.

Institutional Investors Weigh In On Terreno Realty

Several large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Terreno Realty during the 2nd quarter worth $1,213,726,000. State Street Corp raised its holdings in shares of Terreno Realty by 4.0% in the second quarter. State Street Corp now owns 5,944,559 shares of the real estate investment trust's stock valued at $336,139,000 after buying an additional 230,444 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Terreno Realty by 246.6% in the first quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust's stock valued at $257,257,000 after buying an additional 2,979,982 shares during the last quarter. Norges Bank acquired a new stake in shares of Terreno Realty during the fourth quarter worth about $168,221,000. Finally, Geode Capital Management LLC boosted its stake in shares of Terreno Realty by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,718,337 shares of the real estate investment trust's stock worth $159,620,000 after buying an additional 17,921 shares during the period.

Analysts Set New Price Targets

Several brokerages have commented on TRNO. Citigroup increased their price target on shares of Terreno Realty from $70.00 to $73.00 and gave the company a "neutral" rating in a research note on Monday. Weiss Ratings restated a "buy (b)" rating on shares of Terreno Realty in a report on Friday, July 31st. KeyCorp reaffirmed an "overweight" rating on shares of Terreno Realty in a research report on Tuesday, June 23rd. Piper Sandler lifted their price target on shares of Terreno Realty from $79.00 to $91.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Finally, UBS Group set a $68.00 price target on shares of Terreno Realty in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $71.93.

About Terreno Realty

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.

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