MQS Management LLC Takes Position in Terreno Realty Co. (NYSE:TRNO)

MQS Management LLC purchased a new stake in shares of Terreno Realty Co. (NYSE:TRNO) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,239 shares of the real estate investment trust’s stock, valued at approximately $310,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Terreno Realty by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 12,981,741 shares of the real estate investment trust’s stock valued at $861,988,000 after purchasing an additional 919,851 shares during the last quarter. Norges Bank purchased a new stake in Terreno Realty during the fourth quarter valued at about $54,302,000. Principal Financial Group Inc. increased its holdings in shares of Terreno Realty by 16.4% in the first quarter. Principal Financial Group Inc. now owns 5,155,458 shares of the real estate investment trust’s stock worth $342,322,000 after buying an additional 727,995 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in shares of Terreno Realty by 91,086.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 713,076 shares of the real estate investment trust’s stock valued at $44,688,000 after acquiring an additional 712,294 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Terreno Realty during the 2nd quarter valued at about $39,064,000.

Insider Buying and Selling

In other news, President Michael A. Coke sold 7,500 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.53, for a total value of $513,975.00. Following the sale, the president now directly owns 402,164 shares of the company’s stock, valued at $27,560,298.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, President Michael A. Coke sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.53, for a total transaction of $513,975.00. Following the completion of the sale, the president now owns 402,164 shares of the company’s stock, valued at $27,560,298.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jaime Jackson Cannon sold 4,998 shares of Terreno Realty stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.39, for a total value of $341,813.22. Following the completion of the sale, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at approximately $6,970,787.53. The disclosure for this sale can be found here. Insiders have sold 18,643 shares of company stock worth $1,277,581 in the last 90 days. Insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JMP Securities raised their price target on Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 13th. Mizuho reaffirmed an “underperform” rating and issued a $62.00 target price on shares of Terreno Realty in a research note on Thursday, September 5th. Scotiabank increased their price target on shares of Terreno Realty from $59.00 to $70.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Wedbush restated a “neutral” rating and issued a $70.00 price objective (up previously from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. Finally, Wells Fargo & Company downgraded shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $71.00 to $75.00 in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Terreno Realty presently has an average rating of “Hold” and a consensus price target of $69.56.

Terreno Realty Trading Down 1.6 %

Shares of TRNO opened at $68.39 on Friday. Terreno Realty Co. has a 1-year low of $50.42 and a 1-year high of $71.63. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 3.20 and a beta of 0.90. The firm’s 50-day moving average price is $68.20 and its 200-day moving average price is $62.36. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24.

Terreno Realty (NYSE:TRNO) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). The firm had revenue of $94.25 million for the quarter, compared to analysts’ expectations of $89.07 million. Terreno Realty had a return on equity of 5.08% and a net margin of 45.69%. Sell-side analysts anticipate that Terreno Realty Co. will post 2.42 EPS for the current year.

Terreno Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $0.49 dividend. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Monday, September 30th. Terreno Realty’s payout ratio is currently 93.75%.

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.