The Manufacturers Life Insurance Company Has $3.94 Million Stake in Terreno Realty Co. (NYSE:TRNO)

The Manufacturers Life Insurance Company boosted its holdings in Terreno Realty Co. (NYSE:TRNO) by 14.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,584 shares of the real estate investment trust’s stock after buying an additional 8,336 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Terreno Realty worth $3,940,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRNO. Mather Group LLC. acquired a new position in shares of Terreno Realty in the 1st quarter valued at $31,000. Whittier Trust Co. lifted its stake in Terreno Realty by 123.4% in the first quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 337 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Terreno Realty during the second quarter worth about $48,000. EntryPoint Capital LLC grew its position in shares of Terreno Realty by 80.3% during the 1st quarter. EntryPoint Capital LLC now owns 941 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 419 shares during the period. Finally, CWM LLC increased its stake in shares of Terreno Realty by 58.2% in the 2nd quarter. CWM LLC now owns 1,191 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 438 shares during the last quarter.

Terreno Realty Price Performance

Shares of TRNO opened at $65.16 on Tuesday. The company has a 50 day moving average of $68.01 and a 200-day moving average of $62.57. 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 stock has a market capitalization of $6.30 billion, a P/E ratio of 33.94, a P/E/G ratio of 2.98 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.

Terreno Realty (NYSE:TRNO) last issued its quarterly 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 net margin of 45.69% and a return on equity of 5.08%. The business had revenue of $94.25 million during the quarter, compared to analyst estimates of $89.07 million. As a group, equities research analysts forecast that Terreno Realty Co. will post 2.42 EPS for the current fiscal year.

Terreno Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.01%. The ex-dividend date is Monday, September 30th. This is a positive change from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s dividend payout ratio is presently 102.08%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TRNO. Wedbush reissued a “neutral” rating and set a $70.00 price objective (up previously from $57.00) on shares of Terreno Realty in a research note on Friday, August 16th. Wells Fargo & Company cut 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 report on Wednesday, August 28th. Scotiabank lifted their target price on Terreno Realty from $59.00 to $70.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Wolfe Research upgraded Terreno Realty to a “hold” rating in a report on Sunday, September 22nd. Finally, The Goldman Sachs Group lifted their price objective on Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Terreno Realty has an average rating of “Hold” and an average target price of $69.56.

Insider Activity at Terreno Realty

In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.64, for a total transaction of $421,792.80. Following the transaction, the executive vice president now owns 110,988 shares of the company’s stock, valued at $7,618,216.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of the 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 completion of the sale, the executive vice president now owns 110,988 shares in the company, valued at $7,618,216.32. This trade represents 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. Also, CFO Jaime Jackson Cannon sold 4,998 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $68.39, for a total transaction of $341,813.22. Following the transaction, the chief financial officer now owns 101,927 shares in the company, valued at $6,970,787.53. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety 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 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.