APG Asset Management US Inc. Has $29.43 Million Stake in Terreno Realty Co. (NYSE:TRNO)

APG Asset Management US Inc. reduced its position in shares of Terreno Realty Co. (NYSE:TRNO) by 23.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 495,205 shares of the real estate investment trust’s stock after selling 150,000 shares during the period. APG Asset Management US Inc. owned approximately 0.51% of Terreno Realty worth $29,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in Terreno Realty by 15.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,817 shares of the real estate investment trust’s stock valued at $490,000 after purchasing an additional 1,023 shares during the period. Norges Bank bought a new stake in shares of Terreno Realty in the fourth quarter valued at approximately $54,302,000. UBS Group AG grew its position in Terreno Realty by 27.4% during the fourth quarter. UBS Group AG now owns 127,707 shares of the real estate investment trust’s stock worth $8,003,000 after buying an additional 27,469 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Terreno Realty by 2.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 94,480 shares of the real estate investment trust’s stock worth $5,921,000 after acquiring an additional 1,940 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Terreno Realty by 412.0% in the 4th quarter. Hsbc Holdings PLC now owns 205,287 shares of the real estate investment trust’s stock valued at $12,874,000 after acquiring an additional 165,194 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TRNO shares. Mizuho reissued an “underperform” rating and set a $62.00 target price on shares of Terreno Realty in a report on Thursday, September 5th. The Goldman Sachs Group increased their price objective on shares of Terreno Realty from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Wedbush restated a “neutral” rating and issued a $70.00 target price (up from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. JMP Securities increased 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 report on Tuesday, August 13th. Finally, Wells Fargo & Company downgraded shares of Terreno Realty from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $71.00 to $75.00 in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $69.56.

Terreno Realty Stock Down 1.7 %

Shares of NYSE:TRNO opened at $67.56 on Thursday. Terreno Realty Co. has a 52-week low of $50.42 and a 52-week high of $71.63. The company has a market capitalization of $6.55 billion, a PE ratio of 35.18, a price-to-earnings-growth ratio of 3.18 and a beta of 0.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. The company has a fifty day moving average of $68.31 and a 200-day moving average of $62.45.

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

Terreno Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.90%. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, September 30th. Terreno Realty’s payout ratio is presently 93.75%.

Insider Activity

In related news, EVP John Tull Meyer sold 6,145 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $68.64, for a total value of $421,792.80. Following the sale, the executive vice president now owns 110,988 shares of the company’s stock, valued at $7,618,216.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP John Tull Meyer sold 6,145 shares of Terreno Realty stock in a transaction that occurred 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 of the company’s stock, valued at $7,618,216.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jaime Jackson Cannon sold 4,998 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.39, for a total transaction of $341,813.22. Following 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. Over the last 90 days, insiders sold 18,643 shares of company stock valued at $1,277,581. 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.