Terreno Realty Co. (NYSE:TRNO) Shares Acquired by Creative Planning

Creative Planning boosted its position in Terreno Realty Co. (NYSE:TRNO) by 7.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,797 shares of the real estate investment trust’s stock after acquiring an additional 312 shares during the quarter. Creative Planning’s holdings in Terreno Realty were worth $284,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TRNO. Algert Global LLC acquired a new stake in Terreno Realty in the second quarter valued at $573,000. The Manufacturers Life Insurance Company increased its holdings in shares of Terreno Realty by 14.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,584 shares of the real estate investment trust’s stock valued at $3,940,000 after acquiring an additional 8,336 shares during the last quarter. DigitalBridge Group Inc. increased its holdings in shares of Terreno Realty by 30.1% in the 2nd quarter. DigitalBridge Group Inc. now owns 175,288 shares of the real estate investment trust’s stock valued at $10,374,000 after acquiring an additional 40,600 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Terreno Realty by 48.4% in the 2nd quarter. AQR Capital Management LLC now owns 44,114 shares of the real estate investment trust’s stock valued at $2,611,000 after acquiring an additional 14,386 shares during the last quarter. Finally, Xponance Inc. lifted its stake in Terreno Realty by 15.9% during the second quarter. Xponance Inc. now owns 6,085 shares of the real estate investment trust’s stock worth $360,000 after purchasing an additional 833 shares during the last quarter.

Terreno Realty Stock Performance

NYSE TRNO opened at $64.46 on Friday. The business’s 50-day moving average price is $67.43 and its 200 day moving average price is $62.55. 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 market cap of $6.25 billion, a P/E ratio of 35.61, a P/E/G ratio of 2.93 and a beta of 0.90. Terreno Realty Co. has a 52-week low of $50.42 and a 52-week high of $71.63.

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

Terreno Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.49 dividend. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a yield of 3.04%. The ex-dividend date was Monday, September 30th. Terreno Realty’s payout ratio is currently 108.29%.

Insiders Place Their Bets

In other news, CFO Jaime Jackson Cannon sold 4,998 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $68.39, for a total transaction of $341,813.22. Following the transaction, the chief financial officer now directly owns 101,927 shares in the company, valued at $6,970,787.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Jaime Jackson Cannon sold 4,998 shares of the firm’s 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 sale, the chief financial officer now directly owns 101,927 shares of the company’s stock, valued at $6,970,787.53. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Tull Meyer sold 6,145 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $68.64, for a total value of $421,792.80. Following the transaction, the executive vice president now directly owns 110,988 shares in the company, valued at $7,618,216.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,643 shares of company stock worth $1,277,581. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Scotiabank raised their price objective on shares of Terreno Realty from $59.00 to $70.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. StockNews.com downgraded shares of Terreno Realty from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Mizuho reiterated an “underperform” rating and set a $62.00 price target on shares of Terreno Realty in a research note on Thursday, September 5th. Wells Fargo & Company lowered Terreno Realty from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $71.00 to $75.00 in a report on Wednesday, August 28th. Finally, JMP Securities lifted their target price 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $69.56.

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.