Terreno Realty’s (TRNO) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reissued their neutral rating on shares of Terreno Realty (NYSE:TRNO) in a report released on Friday, RTT News reports. The firm currently has a $70.00 target price on the real estate investment trust’s stock, up from their prior target price of $57.00.

Other equities analysts have also recently issued research reports about the stock. 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 report on Monday, August 12th. StockNews.com raised Terreno Realty from a sell rating to a hold rating in a research note on Tuesday, August 13th. Scotiabank dropped their target price on Terreno Realty from $66.00 to $59.00 and set a sector perform rating for the company in a research report on Thursday, May 16th. BNP Paribas initiated coverage on shares of Terreno Realty in a research note on Tuesday, June 4th. They issued an outperform rating and a $68.00 price objective for the company. Finally, JMP Securities upped their target price on shares of Terreno Realty from $65.00 to $72.00 and gave the stock a market outperform rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Terreno Realty has an average rating of Moderate Buy and a consensus target price of $67.89.

Terreno Realty Price Performance

NYSE:TRNO opened at $67.74 on Friday. The company has a market capitalization of $6.56 billion, a P/E ratio of 35.28, a P/E/G ratio of 3.28 and a beta of 0.89. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. Terreno Realty has a 52 week low of $50.42 and a 52 week high of $69.74. The stock’s fifty day moving average is $63.51 and its two-hundred day moving average is $61.26.

Terreno Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a dividend of $0.49 per share. The ex-dividend date is Monday, September 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.89%. This is an increase from Terreno Realty’s previous quarterly dividend of $0.45. Terreno Realty’s payout ratio is presently 93.75%.

Insider Activity at Terreno Realty

In related 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 completion of the sale, the executive vice president now owns 110,988 shares in the company, valued at $7,618,216.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, the chief financial officer now owns 101,927 shares in the company, valued at $6,970,787.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Tull Meyer sold 6,145 shares of the company’s stock in a transaction dated 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 directly owns 110,988 shares of the company’s stock, valued at $7,618,216.32. The disclosure for this sale can be found here. Insiders have sold 18,643 shares of company stock valued at $1,277,581 over the last quarter. 2.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Terreno Realty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Terreno Realty by 1.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,394 shares of the real estate investment trust’s stock valued at $2,469,000 after buying an additional 689 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Terreno Realty by 6.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 98,648 shares of the real estate investment trust’s stock worth $6,182,000 after acquiring an additional 6,102 shares during the period. Mackenzie Financial Corp grew its stake in shares of Terreno Realty by 17.7% in the 4th quarter. Mackenzie Financial Corp now owns 8,597 shares of the real estate investment trust’s stock valued at $539,000 after purchasing an additional 1,294 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Terreno Realty by 3.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,100 shares of the real estate investment trust’s stock valued at $946,000 after purchasing an additional 471 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Terreno Realty by 6.9% in the fourth quarter. Handelsbanken Fonder AB now owns 13,930 shares of the real estate investment trust’s stock valued at $873,000 after purchasing an additional 900 shares during the period.

About Terreno Realty

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.