Thrivent Financial for Lutherans Grows Stake in Terreno Realty Co. (NYSE:TRNO)

Thrivent Financial for Lutherans increased its holdings in Terreno Realty Co. (NYSE:TRNO) by 238.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,327,932 shares of the real estate investment trust’s stock after buying an additional 935,418 shares during the period. Thrivent Financial for Lutherans owned 1.37% of Terreno Realty worth $78,587,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Terreno Realty by 7.6% during the first 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. Principal Financial Group Inc. raised its position in shares of Terreno Realty by 16.4% during the 1st quarter. Principal Financial Group Inc. now owns 5,155,458 shares of the real estate investment trust’s stock valued at $342,322,000 after buying an additional 727,995 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Terreno Realty by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,162,332 shares of the real estate investment trust’s stock worth $276,381,000 after acquiring an additional 291,051 shares during the last quarter. American Century Companies Inc. grew its position in Terreno Realty by 7.3% in the second quarter. American Century Companies Inc. now owns 2,150,842 shares of the real estate investment trust’s stock worth $127,287,000 after acquiring an additional 146,808 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Terreno Realty by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,383,262 shares of the real estate investment trust’s stock valued at $81,862,000 after acquiring an additional 103,833 shares during the last quarter.

Terreno Realty Trading Down 1.6 %

Shares of TRNO opened at $68.38 on Friday. The stock has a market capitalization of $6.61 billion, a P/E ratio of 35.61, a PEG ratio of 3.20 and a beta of 0.90. Terreno Realty Co. has a twelve month low of $50.42 and a twelve month high of $71.63. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $68.20 and a two-hundred day simple moving average of $62.35.

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

Terreno Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a $0.49 dividend. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.96 dividend on an annualized basis and a yield of 2.87%. Terreno Realty’s dividend payout ratio (DPR) is presently 102.08%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TRNO shares. Scotiabank upped their price objective on Terreno Realty from $59.00 to $70.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Wedbush reiterated a “neutral” rating and set a $70.00 price target (up from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. Wells Fargo & Company lowered shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $71.00 to $75.00 in a report on Wednesday, August 28th. Mizuho reaffirmed an “underperform” rating and set a $62.00 target price on shares of Terreno Realty in a report on Thursday, September 5th. Finally, JMP Securities boosted their price target on shares of Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Terreno Realty has a consensus rating of “Hold” and a consensus price target of $69.56.

Insider Activity at Terreno Realty

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

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.