John Tull Meyer Sells 4,447 Shares of Terreno Realty (NYSE:TRNO) Stock

Terreno Realty Corporation (NYSE:TRNO) EVP John Tull Meyer sold 4,447 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $68.64, for a total transaction of $305,242.08. Following the transaction, the executive vice president directly owned 131,825 shares of the company’s stock, valued at $9,048,468. The trade was a 3.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Terreno Realty Stock Performance

Shares of Terreno Realty stock opened at $68.70 on Thursday. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of 18.42 and a beta of 1.03. Terreno Realty Corporation has a twelve month low of $53.46 and a twelve month high of $78.94. The company’s fifty day moving average is $68.62 and its 200 day moving average is $65.87. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Terreno Realty had a return on equity of 9.21% and a net margin of 77.22%.The business had revenue of $124.71 million during the quarter, compared to analyst estimates of $127.15 million. Sell-side analysts forecast that Terreno Realty Corporation will post 2.82 EPS for the current year.

Terreno Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a $0.57 dividend. This is an increase from Terreno Realty’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Terreno Realty’s payout ratio is presently 55.76%.

Institutional Trading of Terreno Realty

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Terreno Realty in the second quarter worth $1,213,726,000. Principal Financial Group Inc. boosted its position in shares of Terreno Realty by 246.6% during the 1st quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock worth $257,257,000 after purchasing an additional 2,979,982 shares in the last quarter. Norges Bank acquired a new stake in shares of Terreno Realty in the 4th quarter valued at about $168,221,000. Bank of New York Mellon Corp acquired a new stake in shares of Terreno Realty in the 2nd quarter valued at about $53,869,000. Finally, Janus Henderson Group PLC increased its position in Terreno Realty by 1,252.5% in the 1st quarter. Janus Henderson Group PLC now owns 642,749 shares of the real estate investment trust’s stock valued at $39,487,000 after buying an additional 595,225 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have issued reports on TRNO shares. Scotiabank restated an “outperform” rating and set a $72.00 price target on shares of Terreno Realty in a report on Wednesday. The Goldman Sachs Group increased their price objective on shares of Terreno Realty from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Citigroup lifted their target price on shares of Terreno Realty from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday. Wells Fargo & Company dropped their target price on shares of Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Finally, KeyCorp increased their price target on Terreno Realty from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.43.

Terreno Realty Company Profile

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.