Terreno Realty Co. (NYSE:TRNO) Position Reduced by Truist Financial Corp

Truist Financial Corp cut its position in shares of Terreno Realty Co. (NYSE:TRNO) by 6.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,915 shares of the real estate investment trust’s stock after selling 1,200 shares during the quarter. Truist Financial Corp’s holdings in Terreno Realty were worth $1,119,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TRNO. Covestor Ltd increased its holdings in shares of Terreno Realty by 7.2% in the 1st quarter. Covestor Ltd now owns 2,950 shares of the real estate investment trust’s stock valued at $196,000 after purchasing an additional 197 shares during the period. Amalgamated Bank increased its holdings in shares of Terreno Realty by 9.9% in the 2nd quarter. Amalgamated Bank now owns 3,154 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 284 shares during the period. Caprock Group LLC increased its holdings in shares of Terreno Realty by 2.1% in the 1st quarter. Caprock Group LLC now owns 14,355 shares of the real estate investment trust’s stock valued at $960,000 after purchasing an additional 292 shares during the period. Creative Planning increased its holdings in shares of Terreno Realty by 7.0% in the 2nd quarter. Creative Planning now owns 4,797 shares of the real estate investment trust’s stock valued at $284,000 after purchasing an additional 312 shares during the period. Finally, Whittier Trust Co. increased its holdings in shares of Terreno Realty by 123.4% in the 1st quarter. Whittier Trust Co. now owns 610 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 337 shares during the period.

Analyst Upgrades and Downgrades

TRNO has been the topic of a number of research reports. JMP Securities increased their price objective on Terreno Realty from $65.00 to $72.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 13th. Wolfe Research upgraded Terreno Realty to a “hold” rating in a report on Sunday, September 22nd. The Goldman Sachs Group increased their price target on Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Wells Fargo & Company downgraded Terreno Realty from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $71.00 to $75.00 in a report on Wednesday, August 28th. Finally, Wedbush reissued a “neutral” rating and issued a $70.00 price objective (up from $57.00) on shares of Terreno Realty in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $69.56.

Insiders Place Their Bets

In other news, CFO Jaime Jackson Cannon sold 4,998 shares of Terreno Realty 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. Also, CFO Jaime Jackson Cannon sold 4,998 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $68.39, for a total value 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,643 shares of company stock worth $1,277,581. Insiders own 2.40% of the company’s stock.

Terreno Realty Stock Performance

Terreno Realty stock opened at $63.30 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The stock has a fifty day moving average price of $67.62 and a two-hundred day moving average price of $62.56. Terreno Realty Co. has a 52-week low of $50.42 and a 52-week high of $71.63. The firm has a market capitalization of $6.13 billion, a P/E ratio of 34.97, a P/E/G ratio of 2.88 and a beta of 0.90.

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 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 business had revenue of $94.25 million during the quarter, compared to analyst estimates of $89.07 million. As a group, analysts anticipate 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 was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.49 per share. The ex-dividend date was Monday, September 30th. This represents a $1.96 dividend on an annualized basis and a yield of 3.10%. This is a boost from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s dividend payout ratio (DPR) is 108.29%.

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.